The directors present their annual report and financial statements for the year ended 31 December 2023.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Waystone (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is CP House, Otterspool Way, Watford, Hertfordshire, WD25 8JJ.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of CP Holdings Limited. These consolidated financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
Investments in subsidiaries are measured at cost less accumulated impairment.
Ordinary shares are classified as equity.
The company has no employees other than the directors, who were remunerated either by CP Holdings Limited or Waystone Limited.
Details of the company's subsidiaries at 31 December 2023 are as follows:
The 'A' and 'B' shares rank 'pari passu' and hold full voting and dividend rights.
Share premium account
The share premium reserve includes any premium received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.
The parent undertaking of the smallest group undertaking for which consolidated financial statements are drawn up and of which the company is a member is CP Holdings Limited whose registered office is CP House, Otterspool Way, Watford, Hertfordshire, WD25 8JJ. Copies of these group financial statements are available from Companies House, Crown Way, Cardiff CF 14 3UZ.
The ultimate parent company is CP Holdings Limited, a company incorporated in England and Wales.
In the opinion of the directors, the ultimate controlling party is the Gibbor and Schreier families.