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Registered Number: 07601027
England and Wales

 

 

 

WESTERN RAIL SERVICES (HOLDINGS) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 31 December 2022
Director Mr I P Merrifield
Registered Number 07601027
Registered Office C3 Apollo Court
Neptune Park
Plymouth
Devon
PL4 0SJ
Accountants FUEL Accountancy Services Ltd
Chartered Certified Accountants
C3 Apollo Court
Neptune Park
Plymouth
PL4 0SJ
1
 
 
Notes
 
2022
£
  2022
£
Fixed assets      
Investments 3 126,825    126,825 
126,825    126,825 
Current assets      
Net current assets  
 
Total assets less current liabilities 126,825    126,825 
Creditors: amount falling due after more than one year 4 (125,625)   (125,625)
Net assets 1,200    1,200 
 

Capital and reserves
     
Called up share capital 1,200    1,200 
Profit and loss account  
Shareholder's funds 1,200    1,200 
 


For the period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 03 April 2024 and were signed by:


-------------------------------
Mr I P Merrifield
Director
2
General Information
WESTERN RAIL SERVICES (HOLDINGS) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07601027, registration address C3 Apollo Court, Neptune Park, Plymouth, Devon, PL4 0SJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The financial statements are prepared in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Investment in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. 

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. 

Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. 
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less and accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. 
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. 
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. 
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.

Average number of employees

Average number of employees during the period was 1 (2022 : 1).
3.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 May 2022 126,825    126,825 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2022 126,825    126,825 
 The company owns 100% of the issued share capital of WRS Cables Limited.

 The last two years aggregate capital and reserves and the profit and (loss) for each year is shown below.

  2018
£
  2017
£
Aggregate capital and reserves 236,258  204,445 
Profit and (loss) for the year 155,713  186,240 

WRS Cables Limited is a company incorporated in the UK, it's principle activity is the supply and distribution of rail cables and related products. The company registration number is 04613828 and its registered office address is 66 Faraday Mill Business Park, Cattedown, Plymouth, PL4 0ST.


4.

Creditors: amount falling due after more than one year

2022
£
  2022
£
Amounts Owed to Group Undertakings 125,625    125,625 
125,625    125,625 

5.

Related party transactions

During the year, the company received a dividend from WRS Cables Limited totaling £194,000. 

At the year end there was an amount owed to WRS Cabled Limited totaling £125,625 (2021: £125,625).
3