2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 16,043 10,753 5,290 10,370 555 7,300 3,625 1,665 5,673 xbrli:pure xbrli:shares iso4217:GBP 09520562 2023-01-01 2023-12-31 09520562 2023-12-31 09520562 2022-12-31 09520562 2022-01-01 2022-12-31 09520562 2022-12-31 09520562 2021-12-31 09520562 bus:Director3 2023-01-01 2023-12-31 09520562 core:WithinOneYear 2023-12-31 09520562 core:WithinOneYear 2022-12-31 09520562 core:AfterOneYear 2022-12-31 09520562 core:ShareCapital 2023-12-31 09520562 core:ShareCapital 2022-12-31 09520562 core:RetainedEarningsAccumulatedLosses 2023-12-31 09520562 core:RetainedEarningsAccumulatedLosses 2022-12-31 09520562 bus:SmallEntities 2023-01-01 2023-12-31 09520562 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09520562 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09520562 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09520562 bus:FullAccounts 2023-01-01 2023-12-31 09520562 core:OfficeEquipment 2023-01-01 2023-12-31 09520562 core:OfficeEquipment 2022-12-31 09520562 core:OfficeEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 09520562
WGB Utility Management (UK) Ltd
Filleted Unaudited Financial Statements
31 December 2023
WGB Utility Management (UK) Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
1,665
5,673
Current assets
Debtors
6
30,625
91,117
Cash at bank and in hand
22,569
1,444
--------
--------
53,194
92,561
Creditors: amounts falling due within one year
7
46,208
71,785
--------
--------
Net current assets
6,986
20,776
-------
--------
Total assets less current liabilities
8,651
26,449
Creditors: amounts falling due after more than one year
8
23,507
-------
--------
Net assets
8,651
2,942
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
8,551
2,842
-------
-------
Shareholders funds
8,651
2,942
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WGB Utility Management (UK) Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 March 2024 , and are signed on behalf of the board by:
Mr N P Jones
Director
Company registration number: 09520562
WGB Utility Management (UK) Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10 Edison Court, Ellice Way, Wrexham Technology Park, Wrexham, LL13 7YT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company accounting policies.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 3 ).
5. Tangible assets
Equipment
£
Cost
At 1 January 2023
16,043
Disposals
( 10,753)
--------
At 31 December 2023
5,290
--------
Depreciation
At 1 January 2023
10,370
Charge for the year
555
Disposals
( 7,300)
--------
At 31 December 2023
3,625
--------
Carrying amount
At 31 December 2023
1,665
--------
At 31 December 2022
5,673
--------
6. Debtors
2023
2022
£
£
Trade debtors
30,231
27,324
Other debtors
394
63,793
--------
--------
30,625
91,117
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
Trade creditors
131
Social security and other taxes
32,181
36,514
Other creditors - intercompany loan
20,000
Other creditors
14,027
5,140
--------
--------
46,208
71,785
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
23,507
----
--------
9. Director's advances, credits and guarantees
The directors operated loan accounts with the company, the opening and closing balances and summarised net debit and credit transactions are disclosed below: Opening balance: £ (1,562) Net movement £ 12,990 Closing balances £ 11,428 Interest is charged at 2% on overdrawn balances. The loans are repayable upon demand.