Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31Wake One Limited is a private company, limited by shares, domiciled and incorporated in England and Wales. Company number is 09650577. The registered office is Forvis Mazars, 30 Old Bailey, London, United Kingdom, EC4M 7AU. The principal activity of the Company during the period is that of monetary intermediation and investment. These financial statements have been presented in Euros as this is the currency of the primary economic environment in which the Company operates. Monetary amounts in these financial statements have been rounded to the nearest €. Monetary intermediation and investmentTangible 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. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.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. 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.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. 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.true2022-07-01false33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09650577 2022-07-01 2023-12-31 09650577 2021-07-01 2022-06-30 09650577 2023-12-31 09650577 2022-06-30 09650577 c:Director2 2022-07-01 2023-12-31 09650577 d:Buildings 2022-07-01 2023-12-31 09650577 d:Buildings 2023-12-31 09650577 d:Buildings 2022-06-30 09650577 d:FurnitureFittings 2022-07-01 2023-12-31 09650577 d:FurnitureFittings 2023-12-31 09650577 d:FurnitureFittings 2022-06-30 09650577 d:CurrentFinancialInstruments 2023-12-31 09650577 d:CurrentFinancialInstruments 2022-06-30 09650577 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09650577 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 09650577 d:ShareCapital 2023-12-31 09650577 d:ShareCapital 2022-06-30 09650577 d:OtherMiscellaneousReserve 2022-07-01 2023-12-31 09650577 d:OtherMiscellaneousReserve 2023-12-31 09650577 d:OtherMiscellaneousReserve 2022-06-30 09650577 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-12-31 09650577 d:RetainedEarningsAccumulatedLosses 2023-12-31 09650577 d:RetainedEarningsAccumulatedLosses 2022-06-30 09650577 c:OrdinaryShareClass1 2022-07-01 2023-12-31 09650577 c:OrdinaryShareClass1 2023-12-31 09650577 c:OrdinaryShareClass1 2022-06-30 09650577 c:FRS102 2022-07-01 2023-12-31 09650577 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-12-31 09650577 c:FullAccounts 2022-07-01 2023-12-31 09650577 c:PrivateLimitedCompanyLtd 2022-07-01 2023-12-31 09650577 6 2022-07-01 2023-12-31 09650577 1 2023-12-31 09650577 2 2023-12-31 09650577 1 2022-06-30 09650577 2 2022-06-30 09650577 f:Euro 2022-07-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09650577









WAKE ONE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
WAKE ONE LIMITED
REGISTERED NUMBER: 09650577

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December 2023
30 June 2022
Note

Fixed assets
  

Tangible assets
 3 
-
750,000

Investments
 4 
-
10,471,635

  
-
11,221,635

Current assets
  

Debtors: amounts falling due within one year
 5 
22,605
22,582

Cash at bank and in hand
  
1,019,809
8,404,733

  
1,042,414
8,427,315

Creditors: amounts falling due within one year
 6 
(215,301)
(342,228)

Net current assets
  
 
 
827,113
 
 
8,085,087

Total assets less current liabilities
  
827,113
19,306,722

  

Net assets
  
827,113
19,306,722


Capital and reserves
  

Called up share capital 
 7 
110,000
110,000

Non-distributable reserve
 8 
-
396,085

Profit and loss account
 8 
717,113
18,800,637

  
827,113
19,306,722


Page 1

 
WAKE ONE LIMITED
REGISTERED NUMBER: 09650577
    
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 period 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 profit and loss account 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 by: 



................................................
A Pons
Director

Date: 30 July 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Wake One Limited is a private company, limited by shares, domiciled and incorporated in England and Wales. Company number is 09650577. The registered office is Forvis Mazars, 30 Old Bailey, London, United Kingdom, EC4M 7AU.
The principal activity of the Company during the period is that of monetary intermediation and investment.
These financial statements have been presented in Euros as this is the currency of the primary economic environment in which the Company operates.
Monetary amounts in these financial statements have been rounded to the nearest €.

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

FRS 102 Section 1A disclosure exemptions

FRS 102 Section 1A allows a qualifying entity to adopt the following disclosure exemptions:
•   the requirement of Section 7 Statement of Cash Flows;
•   the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d);
•  the requirements of Section 11 Financial Instruments paragraphs 11.29 to 11.48(c);
•   the requirements of Section 32 Other Financial Instruments paragraphs 11.26 to 12.29.

 
2.3

Going concern

The Company is presenting the Financial statements on a break up basis, however this has had no impact on the Income Statement in the period, not the Balance Sheet 

Page 3

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

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.

 
2.6

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Page 4

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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

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.

 
2.9

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:

Fixtures and fittings
-
5 years straight line

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.

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 5

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.11

Investment property

Investment property is carried at fair value determined annually by the Directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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.

 
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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.
Page 6

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)


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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Page 7

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
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.

Page 8

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Tangible fixed assets







Freehold property
Fixtures and fittings
Total




Cost or valuation


At 1 July 2022
750,000
2,766
752,766


Disposals
(750,000)
-
(750,000)



At 31 December 2023

-
2,766
2,766



Depreciation


At 1 July 2022
-
2,766
2,766



At 31 December 2023

-
2,766
2,766



Net book value



At 31 December 2023
-
-
-



At 30 June 2022
750,000
-
750,000

The 2022 valuation was made by L Sala (Director), on an open market value for existing use basis.
The original cost of this property was €919,594.

Page 9

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Fixed asset investments








Listed investments
Unlisted investments
Total






At 1 July 2022
9,239,482
1,232,153
10,471,635


Additions
8,523,636
-
8,523,636


Disposals
(18,765,512)
(536,303)
(19,301,815)


Revaluations
1,002,394
(695,850)
306,544



At 31 December 2023
-
-
-






Net book value



At 31 December 2023
-
-
-



At 30 June 2022
9,239,482
1,232,153
10,471,635

Page 10

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Debtors

31 December
30 June
2023
2022


Trade debtors
22,605
22,402

Prepayments and accrued income
-
180

22,605
22,582



6.


Creditors: Amounts falling due within one year

31 December
30 June
2023
2022

Trade creditors
1,462
-

Corporation tax
199,939
59,807

Other creditors
2
266,136

Accruals and deferred income
13,898
16,285

215,301
342,228





7.


Share capital

31 December
30 June
2023
2022
Allotted, called up and fully paid



110,000 (2022 - 110,000) Ordinary shares of 1.00 each
110,000
110,000


Page 11

 
WAKE ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Reserves

Non- Distributable reserve

The reserve represents the unrealised gains on unlisted investments.

Profit and loss account

The Profit and Loss Account reserve represents cumulative profits and losses of the Company less dividends paid.
 


9.


Capital commitments


At 31 December 2023 the Company had capital commitments as follows:

31 December
30 June
2023
2022


Capital Commitments in Limited Partnership
-
39,174

-
39,174


10.


Related party transactions

At the Balance Sheet date, the Company owed the Director €3 (2022 - €3) and is included in other creditors. This amount was interest free and repayable on demand.


11.


Controlling party

The Company is controlled by the Directors.

 
Page 12