Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-302023-04-302022-05-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13321690 2022-05-01 2023-04-30 13321690 2021-05-01 2022-04-30 13321690 2023-04-30 13321690 2022-04-30 13321690 c:Director1 2022-05-01 2023-04-30 13321690 d:LeaseholdInvestmentProperty 2023-04-30 13321690 d:LeaseholdInvestmentProperty 2022-04-30 13321690 d:CurrentFinancialInstruments 2023-04-30 13321690 d:CurrentFinancialInstruments 2022-04-30 13321690 d:Non-currentFinancialInstruments 2023-04-30 13321690 d:Non-currentFinancialInstruments 2022-04-30 13321690 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13321690 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 13321690 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 13321690 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 13321690 d:ShareCapital 2023-04-30 13321690 d:ShareCapital 2021-05-01 2022-04-30 13321690 d:ShareCapital 2022-04-30 13321690 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 13321690 d:RetainedEarningsAccumulatedLosses 2023-04-30 13321690 d:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 13321690 d:RetainedEarningsAccumulatedLosses 2022-04-30 13321690 c:OrdinaryShareClass1 2022-05-01 2023-04-30 13321690 c:OrdinaryShareClass1 2023-04-30 13321690 c:FRS102 2022-05-01 2023-04-30 13321690 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 13321690 c:FullAccounts 2022-05-01 2023-04-30 13321690 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 13321690 2 2022-05-01 2023-04-30 13321690 4 2022-05-01 2023-04-30 13321690 6 2022-05-01 2023-04-30 13321690 e:PoundSterling 2022-05-01 2023-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13321690










WGWM LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
WGWM LIMITED
REGISTERED NUMBER: 13321690

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
-
100

Investment property
 5 
5,700,000
5,700,000

  
5,700,000
5,700,100

Current assets
  

Debtors
 6 
51,885
59,458

Cash at bank and in hand
  
55,292
83,412

  
107,177
142,870

Creditors: amounts falling due within one year
 7 
(59,730)
(2,047,234)

Net current assets/(liabilities)
  
 
 
47,447
 
 
(1,904,364)

Total assets less current liabilities
  
5,747,447
3,795,736

Creditors: amounts falling due after more than one year
 8 
(3,850,000)
(3,850,000)

  

Net assets/(liabilities)
  
1,897,447
(54,264)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
1,897,446
(54,265)

  
1,897,447
(54,264)


Page 1

 
WGWM LIMITED
REGISTERED NUMBER: 13321690

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The director considers 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 director acknowledges his 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 comprehensive income 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: 




A W Kirima-Muchoki
Director

Date: 26 March 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
WGWM LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the year

Loss for the year
-
(54,265)
(54,265)


Contributions by and distributions to owners

Shares issued during the year
1
-
1



At 1 May 2022
1
(54,265)
(54,264)


Comprehensive income for the year

Profit for the year
-
2,601,711
2,601,711


Contributions by and distributions to owners

Dividends: Equity capital
-
(650,000)
(650,000)


At 30 April 2023
1
1,897,446
1,897,447


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
WGWM LIMITED
 

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

1.


General information

WGWM LImited is a private company, limited by shares, and incorporated in England and Wales. The address of its registered office is 29 Broad Walk, London, N21 3BU.
The financial statements are presented in pound sterling which is the functional currency of the company.

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

Revenue

Revenue 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. Revenue 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:

Turnover represents rents receivable during the year from investment property in accordance with lease agreement with its tenants.
Property acquisistion and disposals are accounted for when legally binding contracts which are irrecoverable and effectively unconditional are exchange, and in the case of disposals, where completion has taken place prior to the date on which the financial statements are approved.

 
2.3

Exxemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated financial statements.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 4

 
WGWM LIMITED
 

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

2.Accounting policies (continued)

 
2.8

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 

Page 5

 
WGWM LIMITED
 

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

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
WGWM LIMITED
 

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

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 May 2022
100


Amounts written off
(100)



At 30 April 2023
-




The subsidiary company was dissolved on 23.07.23.


5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 May 2022
5,700,000



At 30 April 2023
5,700,000

The 2023 valuations were made by the director, on a fair value for existing use basis.






If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
5,715,028
5,715,028

Page 7

 
WGWM LIMITED
 

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

6.


Debtors


2023
2022
£
£

Due after more than one year

Other debtors
37,577
37,577

Prepayments and accrued income
8,773
12,533

46,350
50,110

Due within one year

Other debtors
492
1,613

Prepayments and accrued income
5,043
7,735

51,885
59,458



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
240

Other creditors
40,831
2,040,858

Accruals and deferred income
18,899
6,136

59,730
2,047,234



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
3,850,000
3,850,000


Secured creditors
The aggregate amount of creditors for which security has been given amounted to £3,850,000 (2022 - £3,850,000) by fixed and floating charges over all the assets of the company.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 Ordinary share of £1
1
1


Page 8

 
WGWM LIMITED
 

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

10.


Related party transactions

The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with the other wholly owned members for the group.
At the balance sheet the balance due to the director was £40,832 (2022 - £Nil).


Page 9