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Registration number: 13546084

Word On The Street Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Word On The Street Group Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Word On The Street Group Ltd

Company Information

Directors

Miss Jasmine Louisa Ough

Mr Michael Paul Street

Registered office

2 Highmead Street
Manchester
M18 8PJ

Accountants

The Moffatts Partnership LLP
Suite 1.1, First Floor
Jackson House
Sibson Road
Sale
M33 7RR

 

Word On The Street Group Ltd

(Registration number: 13546084)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

3

4

Current assets

 

Cash at bank and in hand

 

2

2

Creditors: Amounts falling due within one year

6

(3)

(4)

Net current liabilities

 

(1)

(2)

Net assets

 

2

2

Capital and reserves

 

Called up share capital

7

2

2

Shareholders' funds

 

2

2

For the financial year ending 30 June 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Word On The Street Group Ltd

(Registration number: 13546084)
Balance Sheet as at 30 June 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 

.........................................
Mr Michael Paul Street
Director

   
     
 

Word On The Street Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Highmead Street
Manchester
M18 8PJ

These financial statements were authorised for issue by the Board on 25 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Word On The Street Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Word On The Street Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

3

4

Subsidiaries

£

Cost or valuation

At 1 July 2022

4

Disposals

(1)

At 30 June 2023

3

Provision

Carrying amount

At 30 June 2023

3

At 30 June 2022

4

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Word on the Street Construction Ltd

2 Highmead Street, Manchester, United Kingdom, M18 8PJ

England and Wales

Ordinary Shares

100%

100%

Word on the Street Financial Solutions Ltd

2 Highmead Street, Manchester, United Kingdom, M18 8PJ

England and Wales

Ordinary Shares

100%

100%

Word on the Street Estates & Lettings Ltd

2 Highmead Street, Manchester, England, M18 8PJ

England and Wales

Ordinary Shares

100%

100%

 

Word On The Street Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Subsidiary undertakings

Word on the Street Construction Ltd

The principal activity of Word on the Street Construction Ltd is Construction of commercial & domestic buildings.

Word on the Street Financial Solutions Ltd

The principal activity of Word on the Street Financial Solutions Ltd is Activities of mortgage finance companies.

Word on the Street Estates & Lettings Ltd

The principal activity of Word on the Street Estates & Lettings Ltd is Other letting and operating of own or leased real estate.

5

Debtors

2023
£

2022
£

-

-

6

Creditors

2023
£

2022
£

Due within one year

Other creditors

3

4

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share class 1 of £1 each

2

2

2

2