Company registration number 13802586 (England and Wales)
WOODWARD MARKWELL HOLDCO A LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
WOODWARD MARKWELL HOLDCO A LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
WOODWARD MARKWELL HOLDCO A LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Investments
4
4,272,179
4,272,179
Current assets
Debtors
5
188,914
150,000
Creditors: amounts falling due within one year
6
(92,160)
(30,720)
Net current assets
96,754
119,280
Net assets
4,368,933
4,391,459
Capital and reserves
Called up share capital
384,000
384,000
Share premium account
3,759,135
3,759,135
Profit and loss reserves
225,798
248,324
Total equity
4,368,933
4,391,459

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 30 July 2024 and are signed on its behalf by:
D  Olson
Director
Company registration number 13802586 (England and Wales)
WOODWARD MARKWELL HOLDCO A LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
Share capital
Share premium account
Merger reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
As restated for the period ended 31 January 2023:
Balance at 15 December 2021
-
0
-
0
-
-
0
-
Period ended 31 January 2023:
Profit and total comprehensive income
-
-
-
279,044
279,044
Issue of share capital
768,000
6,014,502
-
-
6,782,502
Dividends
-
-
-
(30,720)
(30,720)
Reduction of shares
(384,000)
(2,255,367)
-
-
0
(2,639,367)
Transfers
-
-
6,398,502
-
6,398,502
Other movements
-
-
(6,398,502)
-
(6,398,502)
Balance at 31 January 2023
384,000
3,759,135
-
248,324
4,391,459
Year ended 31 January 2024:
Profit and total comprehensive income
-
-
-
58,114
58,114
Dividends
-
-
-
(80,640)
(80,640)
Balance at 31 January 2024
384,000
3,759,135
-
225,798
4,368,933
WOODWARD MARKWELL HOLDCO A LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Woodward Markwell Holdco A Limited is a private company limited by shares, incorporated in England & Wales under the Companies Act. The address of the registered office is given on the Company Information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 company is a parent undertaking of a small group and as such there is no requirement by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about the group.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

WOODWARD MARKWELL HOLDCO A LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

 

1.4

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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0

The company has no employees other than the directors, who did not receive any remuneration.

4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
4,272,179
4,272,179
Fixed asset investments revalued

The 2024 valuation was made by the Directors, on an open market basis. The historic cost of the investment is £1,787,001

WOODWARD MARKWELL HOLDCO A LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
188,914
150,000
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
88,320
26,880
Other creditors
3,840
3,840
92,160
30,720
7
Prior period adjustment
Reconciliation of changes in equity
15 December
31 January
2021
2023
£
£
Adjustments to prior year
Additional gain on disposal of subsidary
-
129,044
Equity as previously reported
-
4,262,415
Equity as adjusted
-
4,391,459
Analysis of the effect upon equity
Profit and loss reserves
-
129,044
Notes to reconciliation
Gain on disposal of subsidiary

The calculation of the gain on disposal of subsidiaries in the prior period omitted to take into account a loan novation agreement. Prior period results have therefore been restated to reflect this.

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