Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-309The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-05-01falseNo description of principal activity9falsetrue 11319091 2022-05-01 2023-04-30 11319091 2021-05-01 2022-04-30 11319091 2023-04-30 11319091 2022-04-30 11319091 c:Director1 2022-05-01 2023-04-30 11319091 d:FurnitureFittings 2022-05-01 2023-04-30 11319091 d:FurnitureFittings 2023-04-30 11319091 d:FurnitureFittings 2022-04-30 11319091 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 11319091 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 11319091 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-30 11319091 d:CurrentFinancialInstruments 2023-04-30 11319091 d:CurrentFinancialInstruments 2022-04-30 11319091 d:Non-currentFinancialInstruments 2023-04-30 11319091 d:Non-currentFinancialInstruments 2022-04-30 11319091 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11319091 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 11319091 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 11319091 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 11319091 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 11319091 d:ShareCapital 2023-04-30 11319091 d:ShareCapital 2022-04-30 11319091 d:RetainedEarningsAccumulatedLosses 2023-04-30 11319091 d:RetainedEarningsAccumulatedLosses 2022-04-30 11319091 c:FRS102 2022-05-01 2023-04-30 11319091 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 11319091 c:FullAccounts 2022-05-01 2023-04-30 11319091 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11319091 2 2022-05-01 2023-04-30 11319091 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-05-01 2023-04-30 11319091 e:PoundSterling 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 11319091









WHOOBID HOLDINGS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

 
WHOOBID HOLDINGS LTD
REGISTERED NUMBER: 11319091

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
9,468
11,361

Tangible assets
 5 
1,135
1,695

  
10,603
13,056

Current assets
  

Debtors: amounts falling due within one year
 6 
326,093
174,603

Cash at bank and in hand
 7 
-
39,363

  
326,093
213,966

Creditors: amounts falling due within one year
 8 
(277,391)
(168,068)

Net current assets
  
 
 
48,702
 
 
45,898

Total assets less current liabilities
  
59,305
58,954

Creditors: amounts falling due after more than one year
 9 
(22,521)
(32,177)

  

Net assets
  
36,784
26,777


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
36,782
26,775

  
36,784
26,777

Page 1

 
WHOOBID HOLDINGS LTD
REGISTERED NUMBER: 11319091
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 1 February 2024.




................................................
Alexander Haigh
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
WHOOBID HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Whoobid Holdings Ltd is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of an online auction site.

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:

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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
WHOOBID HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Interest income

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

 
2.7

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.

 
2.8

Borrowing costs

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

 
2.9

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.

Page 4

 
WHOOBID HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

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 and on reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33% reducing balance

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.

 
2.13

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.

 
2.14

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

 
WHOOBID HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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

 
2.17

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 9 (2022 - 9).

Page 6

 
WHOOBID HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Intangible assets




Website developme't

£



Cost


At 1 May 2022
18,933



At 30 April 2023

18,933



Amortisation


At 1 May 2022
7,572


Charge for the year on owned assets
1,893



At 30 April 2023

9,465



Net book value



At 30 April 2023
9,468



At 30 April 2022
11,361



Page 7

 
WHOOBID HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2022
3,487



At 30 April 2023

3,487



Depreciation


At 1 May 2022
1,792


Charge for the year on owned assets
560



At 30 April 2023

2,352



Net book value



At 30 April 2023
1,135



At 30 April 2022
1,695

Page 8

 
WHOOBID HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

6.


Debtors

2023
2022
£
£


Trade debtors
23,790
14,654

Amounts owed by joint ventures and associated undertakings
156,685
150,801

Other debtors
1,774
9,148

Prepayments and accrued income
143,844
-

326,093
174,603



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
-
39,363

Less: bank overdrafts
(4,917)
-

(4,917)
39,363



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
4,917
-

Bank loans
10,000
10,000

Other loans
-
376

Trade creditors
50,477
131

Corporation tax
54,623
31,758

Other taxation and social security
88,737
101,343

Other creditors
65,680
20,123

Accruals and deferred income
2,957
4,337

277,391
168,068


Included in other creditors is a loan amount in relation to, Alexander Haigh, of £21,210 (2022 - £4,885) and Douglas Haigh £12,601 (2022 - £Nil) both directors.

Page 9

 
WHOOBID HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,521
32,177

22,521
32,177



10.


Loans


Analysis of the maturity of loans is given below:


2023
£

Amounts falling due within one year

Bank loans
10,000

Amounts falling due 1-2 years

Bank loans
22,521



32,521



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,280 (2022- £2,575) contributions totalling £869 (2022 - £973) were payable to the fund at the balance sheet date.


12.


Related party transactions

During the year the Company made net transactions of £5,885 (2022 - £111,713) to Villeti Homes Ltd, a company in which both directors, Alexander Haigh and Douglas Haigh, are directors and 100% shareholders. At the year £156,685 (2022 - £150,801) was outstanding.


13.


Controlling party

There is no overal controlling party.
 
Page 10