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Registered number: 04076331









JWP Limited









Financial statements

For the year ended 31 December 2023

 
JWP Limited
 
 
Company Information


Director
C Whalley-Livesey (appointed 1 December 2023)




Company secretary
B Johnson



Registered number
04076331



Registered office
Wirral International Business Park
Riverview Road

Bromborough

Wirral

CH62 3RH




Independent auditors
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors

3 Stockport Exchange

Stockport

Cheshire

SK1 3GG




Bankers
HSBC Bank Plc
Grange Road

Birkenhead

Merseyside

CH41 2ZL





 
JWP Limited
 

Contents



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 4


 
JWP Limited
Registered number: 04076331

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
317,878
317,878

  
317,878
317,878

Total assets less current liabilities
  
 
 
317,878
 
 
317,878

  

Net assets
  
317,878
317,878


Capital and reserves
  

Called up share capital 
 6 
30,100
30,100

Profit and loss account
  
287,778
287,778

  
317,878
317,878


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: 

C Whalley-Livesey
Director

Date: 16 September 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
JWP Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

1.


General information

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

 
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 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:

 
2.2

Going concern

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. 

 
2.3

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.

 
2.4

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.

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.

 
Page 2

 
JWP Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.4
Financial instruments (continued)


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.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 -1).


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
317,878
317,878



5.


Financial commitments, guarantees and contingencies

The Company is party to an unlimited multilateral guarantee dated 17 January 2019 alongside fellow group undertakings.  Contingencies at the balance sheet date totalled £9,103,000 (2022: £9,453,000).


6.


Share capital

2023
2022
£
£
Page 3

 
JWP Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

6.Share capital (continued)

Allotted, called up and fully paid



30,100 (2022 -30,100) Ordinary shares of £1.00 each
30,100
30,100



7.


Controlling party

Meyer Group Limited (company number 01443669) is the immediate parent undertaking and is the parent of the smallest group for which consolidated financial statements are drawn up of which this Company is a member. Meyer Group Limited is incorporated in England and its registered office is Wirral International Business Park, Riverview Road, Bromborough, Wirral, CH62 3RH. 
The Company's ultimate parent undertaking and controlling party is Meyer International Holdings Limited, a company incorporated in the British Virgin Islands, which heads the largest group into which the results of the Company are consolidated. Meyer International Holdings Limited's registered office is Vistra Corporate Services Centre, Road Town, Tortola, British Virgin Islands, VG1110.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 16 September 2024 by Anthony Woodings (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

Page 4