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Registration number: 14438830

Wincobank Holdings Limited

Unaudited Filleted Financial Statements

for the Period from 24 October 2022 to 31 October 2023

 

Wincobank Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Wincobank Holdings Limited

Company Information

Directors

Mr John Adams

Mr Robert Timothy Driver-Matthews

Richard Michael Springthorpe-Weir

Kellan Ashley McJannet

Registered office

Unit 2
Waddington Way
Aldwarke Wharf Business Park
Rotherham
South Yorkshire
S65 3SH

Accountants

Wenlocks
Chartered Certified Accountants
17 Newcastle Road
Loggerheads
Market Drayton
Shropshire
TF9 4PH

 

Wincobank Holdings Limited

(Registration number: 14438830)
Balance Sheet as at 31 October 2023

Note

2023
£

Fixed assets

 

Investments

4

804,000

Current assets

 

Cash at bank and in hand

 

1,000

Creditors: Amounts falling due within one year

5

(18,378)

Net current liabilities

 

(17,378)

Total assets less current liabilities

 

786,622

Creditors: Amounts falling due after more than one year

5

(785,622)

Net assets

 

1,000

Capital and reserves

 

Called up share capital

6

1,000

Shareholders' funds

 

1,000

For the financial period ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2024 and signed on its behalf by:
 

.........................................
Mr John Adams
Director

 

Wincobank Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 24 October 2022 to 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 2
Waddington Way
Aldwarke Wharf Business Park
Rotherham
South Yorkshire
S65 3SH

These financial statements were authorised for issue by the Board on 30 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Wincobank Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 24 October 2022 to 31 October 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Investments

2023
£

Investments in subsidiaries

804,000

Subsidiaries

£

Cost or valuation

Additions

804,000

Provision

Carrying amount

At 31 October 2023

804,000

 

Wincobank Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 24 October 2022 to 31 October 2023

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

Subsidiary undertakings

Wincobank Fabrication and Engineering Limited

England

Ordinary £1

100%

Subsidiary undertakings

Wincobank Fabrication and Engineering Limited

The principal activity of Wincobank Fabrication and Engineering Limited is hydraulic engineering. Its financial period end is 30 April.

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

7

12,586

Accruals and deferred income

 

5,792

 

18,378

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £12,586.

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

7

785,622

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £432,238.

Creditors include bank loans repayable by instalments of £369,938 due after more than five years.

 

Wincobank Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 24 October 2022 to 31 October 2023

6

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary of £1 each

1,000

1,000

   

7

Loans and borrowings

Non-current loans and borrowings

2023
£

Bank borrowings

432,238

Other borrowings

353,384

785,622

Current loans and borrowings

2023
£

Bank borrowings

12,586

8

Related party transactions

Loans from related parties

2023

Subsidiary
£

Total
£

Advanced

353,384

353,384

At end of period

353,384

353,384

Terms of loans from related parties

The loan from Wincobank Fabrication and Engineering Limited has no scheduled repayment date.