JWP Limited
Notes to the Financial Statements
For the year ended 31 December 2023
JWP Limited is a private company limited by shares and incorporated in England. The address of the registered office and principal place of business is Wirral International Business Park, Riverview Road, Bromborough, Wirral, CH62 3RH. The Company's registered number is 04076331.
The nature of the Company's operations and its principal activity is that of a dormant subsidiary company.
2.Accounting policies
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Basis of preparation of financial statements
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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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.
The following principal accounting policies have been applied:
The following principal accounting policies have been applied:
These financial statements have been prepared on a going concern basis. The Company is effectively dormant, following the hive-up of its trade and assets to the immediate parent undertaking, Meyer Group Limited, in 2021. The Company has no liabilities and the directors have a reasonable expectation that the Company has adequate resources to continue in existence for the next 12 months and for the foreseeable future.
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.
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.
Basic financial assets
Basic financial assets, which include amounts owed by group undertakings, 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.
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.
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