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REGISTERED NUMBER: 12028653 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

WDS ACCOUNTANTS LTD

WDS ACCOUNTANTS LTD (REGISTERED NUMBER: 12028653)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WDS ACCOUNTANTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: John Richard Hall
Julie Anne Young
Jonathan William Brown
Kimberley Lauren Mawer





REGISTERED OFFICE: 1 Valley Court
Canal Road
Bradford
West Yorkshire
BD1 4SP





REGISTERED NUMBER: 12028653 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
1 Valley Court
Canal Road
Bradford
West Yorkshire
BD1 4SP

WDS ACCOUNTANTS LTD (REGISTERED NUMBER: 12028653)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,081,383 2,811,359
Tangible assets 5 97,385 77,715
Investments 6 416,743 416,743
3,595,511 3,305,817

CURRENT ASSETS
Stocks 802,026 759,050
Debtors 7 882,895 923,694
Cash at bank and in hand 39,249 30,293
1,724,170 1,713,037
CREDITORS
Amounts falling due within one year 8 1,107,771 837,879
NET CURRENT ASSETS 616,399 875,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,211,910

4,180,975

CREDITORS
Amounts falling due after more than
one year

9

(2,178,748

)

(2,954,124

)

PROVISIONS FOR LIABILITIES (18,250 ) (11,995 )
NET ASSETS 2,014,912 1,214,856

CAPITAL AND RESERVES
Called up share capital 151,000 152,000
Capital redemption reserve 51,000 -
Profit and loss account 1,812,912 1,062,856
2,014,912 1,214,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WDS ACCOUNTANTS LTD (REGISTERED NUMBER: 12028653)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:




John Richard Hall - Director



Julie Anne Young - Director


WDS ACCOUNTANTS LTD (REGISTERED NUMBER: 12028653)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

WDS Accountants Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about WDS Accountants Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated impairment losses. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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.
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 are 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

WDS ACCOUNTANTS LTD (REGISTERED NUMBER: 12028653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

FINANCE COSTS OF DEBT
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2022 - 75 ) .

WDS ACCOUNTANTS LTD (REGISTERED NUMBER: 12028653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022 2,811,359
Additions 270,024
At 30 September 2023 3,081,383
NET BOOK VALUE
At 30 September 2023 3,081,383
At 30 September 2022 2,811,359

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles Equipment Totals
£    £    £    £   
COST
At 1 October 2022 96,901 9,715 19,498 126,114
Additions 36,928 15,910 13,295 66,133
Disposals - (14,000 ) - (14,000 )
At 30 September 2023 133,829 11,625 32,793 178,247
DEPRECIATION
At 1 October 2022 39,831 3,332 5,236 48,399
Charge for year 23,500 2,074 6,889 32,463
At 30 September 2023 63,331 5,406 12,125 80,862
NET BOOK VALUE
At 30 September 2023 70,498 6,219 20,668 97,385
At 30 September 2022 57,070 6,383 14,262 77,715

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 30 September 2023 416,743
NET BOOK VALUE
At 30 September 2023 416,743
At 30 September 2022 416,743

WDS ACCOUNTANTS LTD (REGISTERED NUMBER: 12028653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 752,059 790,940
Other debtors 130,836 132,754
882,895 923,694

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 188,462 92,667
Trade creditors 113,783 129,417
Amounts owed to group undertakings 2,215 8,415
Taxation and social security 512,013 421,450
Other creditors 291,298 185,930
1,107,771 837,879

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 439,744 260,851
Amounts owed to related party - 300,000
Other creditors 1,739,004 2,393,273
2,178,748 2,954,124

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 628,206 353,518

The bank loan is secured against the assets of the company.

11. PENSION COMMITMENTS

The amount recognised in the profit and loss account as an expense in relation to a defined contribution scheme was £184,514 (2022:£91,665). Contributions totalling £9,442 (2022:£9,771) were payable to the fund and included in creditors.

WDS ACCOUNTANTS LTD (REGISTERED NUMBER: 12028653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

12. RELATED PARTY DISCLOSURES

Mr G D Atkinson ceased to be a director on 31 March 2023, along with his directorship in WDS Wealth Management Ltd. He is also a director of Walter Dawson & Son (Insurance Agents) Limited. Mr J R Hall is also a director of WDS Wealth Management Ltd.

Creditors falling due after more than one year includes the following directors loans £309,562 (2022: £1,883,273).

Creditors falling due within one year includes the following group undertaking loan, WDS Wealth Management Ltd £2,215 (2022:£8,415).

Creditors falling due after more than one year includes the following related party balance, Walter Dawson & Son (Insurance Agents) Limited £Nil (2022:£300,000).