Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31false2023-01-01falseThat of a holding company00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12123621 2023-01-01 2023-12-31 12123621 2022-01-01 2022-12-31 12123621 2023-12-31 12123621 2022-12-31 12123621 c:Director1 2023-01-01 2023-12-31 12123621 d:Buildings 2023-01-01 2023-12-31 12123621 d:Buildings 2023-12-31 12123621 d:Buildings 2022-12-31 12123621 d:CurrentFinancialInstruments 2023-12-31 12123621 d:CurrentFinancialInstruments 2022-12-31 12123621 d:Non-currentFinancialInstruments 2023-12-31 12123621 d:Non-currentFinancialInstruments 2022-12-31 12123621 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12123621 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12123621 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12123621 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12123621 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 12123621 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 12123621 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 12123621 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 12123621 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 12123621 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 12123621 d:ShareCapital 2023-12-31 12123621 d:ShareCapital 2022-12-31 12123621 d:RetainedEarningsAccumulatedLosses 2023-12-31 12123621 d:RetainedEarningsAccumulatedLosses 2022-12-31 12123621 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 12123621 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 12123621 c:FRS102 2023-01-01 2023-12-31 12123621 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12123621 c:FullAccounts 2023-01-01 2023-12-31 12123621 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12123621 2 2023-01-01 2023-12-31 12123621 6 2023-01-01 2023-12-31 12123621 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12123621









WESTERN BUSINESS MEDIA HOLDINGS LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WESTERN BUSINESS MEDIA HOLDINGS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Western Business Media Holdings Limited for the year ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Western Business Media Holdings Limited, as a body, in accordance with the terms of our engagement letter dated March 2023Our work has been undertaken solely to prepare for your approval the financial statements of Western Business Media Holdings Limited and state those matters that we have agreed to state to the Board of directors of Western Business Media Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Western Business Media Holdings Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Western Business Media Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Western Business Media Holdings Limited. You consider that Western Business Media Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Western Business Media Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



DMC Partnership Limited
 
Chartered Accountants
  
Yew Tree House
Lewes Road
Forest Row
East Sussex
RH18 5AA
10 April 2024
Page 1


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
REGISTERED NUMBER:12123621

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
819,189

Investments
 5 
800,000
800,000

  
800,000
1,619,189

Current assets
  

Debtors: amounts falling due within one year
 6 
-
1,097

Cash at bank and in hand
 7 
52,470
52,477

  
52,470
53,574

Creditors: amounts falling due within one year
 8 
(484,796)
(539,225)

Net current liabilities
  
 
 
(432,326)
 
 
(485,651)

Total assets less current liabilities
  
367,674
1,133,538

Creditors: amounts falling due after more than one year
 9 
(154,400)
(907,608)

  

Net assets
  
213,274
225,930


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
212,974
225,630

  
213,274
225,930


Page 2


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
REGISTERED NUMBER:12123621
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 on 10 April 2024.




M Sennett
Director

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

Page 3


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Western Business Media Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 12123621, registration address Dorset House, 64 High Street, East Grinstead, West Sussex, RH19 3DE.
The principal activity of the company is advertising and event organising.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

Page 4


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

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.

 
2.10

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.

Page 5


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

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

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.

 
2.13

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.

Page 6


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

2023
2022
£
£

Cost of defined contribution scheme
300,000
23,000

300,000
23,000


The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).


4.


Tangible fixed assets





Freehold property

£





At 1 January 2023
819,189


Disposals
(819,189)



At 31 December 2023

-






Net book value



At 31 December 2023
-



At 31 December 2022
819,189


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
800,000



At 31 December 2023
800,000




Page 7


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Other debtors
-
1,097

-
1,097



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
52,470
52,477

52,470
52,477



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
33,000
83,000

Trade creditors
-
3,398

Amounts owed to group undertakings
448,820
452,827

Other taxation and social security
1,476
-

Accruals and deferred income
1,500
-

484,796
539,225



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
154,400
907,608

154,400
907,608


Page 8


 
WESTERN BUSINESS MEDIA HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
33,000
83,000


33,000
83,000

Amounts falling due 1-2 years

Bank loans
33,000
907,608


33,000
907,608

Amounts falling due 2-5 years

Bank loans
99,000
-


99,000
-

Amounts falling due after more than 5 years

Bank loans
22,400
-

22,400
-

187,400
990,608



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
52,470
52,477




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Controlling party

The company was controlled throughout the year by the directors who between them own all the issued share capital.

 
Page 9