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COMPANY REGISTRATION NUMBER: 08770614
Weber Talma Subsidiary Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2022
Weber Talma Subsidiary Limited
Financial Statements
Year ended 30 November 2022
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Weber Talma Subsidiary Limited
Officers and Professional Advisers
THE BOARD OF DIRECTORS
Mr I Ezekiel
Dr G J Weber
COMPANY SECRETARY
Mr I Ezekiel
REGISTERED OFFICE
Streets Chartered Accountants
Ecen Suite 43
Michael Way
Raunds
Northants
NN9 6GR
ACCOUNTANTS
Streets
Chartered accountants
Potton House
Wyboston Lakes
A1/A428 Interchange
Beds
MK44 3BZ
Weber Talma Subsidiary Limited
Statement of Financial Position
30 November 2022
2022
2021
Note
£
£
Fixed assets
Investments
4
200
Current assets
Stocks
1,338,680
Debtors
5
465,752
98
Cash at bank and in hand
20,521
403
---------
------------
486,273
1,339,181
Creditors: amounts falling due within one year
6
557,224
1,383,650
---------
------------
Net current liabilities
70,951
44,469
--------
--------
Total assets less current liabilities
( 70,751)
( 44,469)
--------
--------
Net liabilities
( 70,751)
( 44,469)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 70,851)
( 44,569)
--------
--------
Shareholders deficit
( 70,751)
( 44,469)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Weber Talma Subsidiary Limited
Statement of Financial Position (continued)
30 November 2022
These financial statements were approved by the board of directors and authorised for issue on 22 February 2024 , and are signed on behalf of the board by:
Mr I Ezekiel
Director
Company registration number: 08770614
Weber Talma Subsidiary Limited
Notes to the Financial Statements
Year ended 30 November 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Streets Chartered Accountants, Ecen Suite 43, Michael Way, Raunds, Northants, NN9 6GR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is supported by loans from its directors, bankers and other parties. These lenders have pledged their continued support to the company.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Investments
Shares in group undertakings
£
Cost
At 1 December 2021
Additions
200
----
At 30 November 2022
200
----
Impairment
At 1 December 2021 and 30 November 2022
----
Carrying amount
At 30 November 2022
200
----
At 30 November 2021
----
5. Debtors
2022
2021
£
£
Other debtors
465,752
98
---------
----
6. Creditors: amounts falling due within one year
2022
2021
£
£
Social security and other taxes
7,462
Other creditors
557,224
1,376,188
---------
------------
557,224
1,383,650
---------
------------
7. Related party transactions
During the year the company transferred trade and stock to its wholly owned subsidiary companies, Weber Talma Leasehold Limited and Weber Talma Commercial Limited. The trade and stock was transferred at cost value of £1,098,187 into Weber Talma Leasehold Limited and £346,607 into Weber Talma Commercial Limited.