Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-3132022-08-01falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03927929 2022-08-01 2023-07-31 03927929 2021-08-01 2022-07-31 03927929 2023-07-31 03927929 2022-07-31 03927929 c:Director1 2022-08-01 2023-07-31 03927929 d:CurrentFinancialInstruments 2023-07-31 03927929 d:CurrentFinancialInstruments 2022-07-31 03927929 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03927929 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 03927929 d:ShareCapital 2023-07-31 03927929 d:ShareCapital 2022-07-31 03927929 d:CapitalRedemptionReserve 2023-07-31 03927929 d:CapitalRedemptionReserve 2022-07-31 03927929 d:RetainedEarningsAccumulatedLosses 2023-07-31 03927929 d:RetainedEarningsAccumulatedLosses 2022-07-31 03927929 c:FRS102 2022-08-01 2023-07-31 03927929 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 03927929 c:FullAccounts 2022-08-01 2023-07-31 03927929 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 03927929 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 03927929









WAVENEY PUBLISHING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
WAVENEY PUBLISHING LIMITED
REGISTERED NUMBER: 03927929

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
                                                                     Note
£
£

  

Current assets
  

Stocks
  
15,000
30,635

Debtors: amounts falling due within one year
 4 
2,210,115
2,159,765

Cash at bank and in hand
 5 
84,163
18,439

  
2,309,278
2,208,839

Creditors: amounts falling due within one year
 6 
(469,824)
(476,412)

Net current assets
  
 
 
1,839,454
 
 
1,732,427

Total assets less current liabilities
  
1,839,454
1,732,427

  

Net assets
  
1,839,454
1,732,427


Capital and reserves
  

Called up share capital 
  
667
667

Capital redemption reserve
  
333
333

Profit and loss account
  
1,838,454
1,731,427

  
1,839,454
1,732,427


Page 1

 
WAVENEY PUBLISHING LIMITED
REGISTERED NUMBER: 03927929
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N P Clarke
Director

Date: 5 April 2024


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WAVENEY PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Waveney Publishing Limited ("the company") is a private limited liability company incorporated and domiciled in the United Kingdom. 
The address of its registered office is: 
45-47 Stour Street
Birmingham
West Midlands
B18 7AJ 
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 31 July 2023 (2022: year ended 31 July 2022).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
WAVENEY PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash
Page 4

 
WAVENEY PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
WAVENEY PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Debtors

2023
2022
£
£


Trade debtors
153,695
232,956

Amounts owed by group undertakings
2,056,420
1,926,809

2,210,115
2,159,765



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
84,163
18,439

84,163
18,439



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
119,611
116,881

Amounts owed to group undertakings
326,220
326,220

Corporation tax
9,142
28,000

Other taxation and social security
12,302
2,762

Accruals and deferred income
2,549
2,549

469,824
476,412



7.


Controlling party

The controlling party is TEPE Holdings Limited, which holds the entire share capital of the company.
Page 6