Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseHolding of shares22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI628035 2023-01-01 2023-12-31 NI628035 2022-01-01 2022-12-31 NI628035 2023-12-31 NI628035 2022-12-31 NI628035 c:Director1 2023-01-01 2023-12-31 NI628035 c:Director2 2023-01-01 2023-12-31 NI628035 c:RegisteredOffice 2023-01-01 2023-12-31 NI628035 c:Agent1 2023-01-01 2023-12-31 NI628035 d:CurrentFinancialInstruments 2023-12-31 NI628035 d:CurrentFinancialInstruments 2022-12-31 NI628035 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI628035 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 NI628035 d:ShareCapital 2023-12-31 NI628035 d:ShareCapital 2022-12-31 NI628035 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 NI628035 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI628035 d:RetainedEarningsAccumulatedLosses 2022-12-31 NI628035 c:OrdinaryShareClass1 2023-01-01 2023-12-31 NI628035 c:OrdinaryShareClass1 2023-12-31 NI628035 c:OrdinaryShareClass1 2022-12-31 NI628035 c:FRS102 2023-01-01 2023-12-31 NI628035 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI628035 c:FullAccounts 2023-01-01 2023-12-31 NI628035 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI628035 d:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 NI628035 d:EntityControlledByKeyManagementPersonnel1 2023-12-31 NI628035 2 2023-01-01 2023-12-31 NI628035 6 2023-01-01 2023-12-31 NI628035 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Unaudited Financial Statements
WWSP Limited
For the Year Ended 31 December 2023





































Registered number: NI628035

 
WWSP Limited
 

Company Information


Directors
Richard Watson 
Sharon Watson 




Registered number
NI628035



Registered office
The Ewart
3 Bedford Square

Belfast

BT2 7EP




Accountants
Grant Thornton (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH




Bankers
Julius Bar
Booths Hall

Booths Park

Chelford Road

Cheshire

WA16 8GS




Solicitors
Tughans
Marlborough House

30 Victoria Park

Belfast

BT1 3GG





 
WWSP Limited
 

Contents



Page
Accountant's Report
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 7


  
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Independent Accountant's Report to the directors of the unaudited financial statements of WWSP Limited for the Year Ended 31 December 2023

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of WWSP Limited for the year ended 31 December 2023, which comprise the Statement of comprehensive income, the Balance Sheet, the Statement of changes in equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of WWSP Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of WWSP Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WWSP Limited and its directors, as a body, for our work or for this report.


We have carried out this engagement in accordance with the technical guidance issued by Chartered Accountants Ireland ("the Institute") and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 31 December 2023 and you have acknowledged on the Balance Sheet as at 31 December 2023 your duty to ensure that WWSP Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that WWSP Limited is exempt from the statutory audit requirement for the year ended 31 December 2023.

We have not been instructed to carry out an audit or review the financial statements of WWSP Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 




  


Grant Thornton (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   19 September 2024
Page 1

 
WWSP Limited
Registered number:NI628035

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
3,324,324
3,324,324

  
3,324,324
3,324,324

Current assets
  

Debtors: amounts falling due within one year
 6 
88,565
45,232

  
88,565
45,232

Creditors: amounts falling due within one year
 7 
(2,902,969)
(2,770,897)

Net current liabilities
  
 
 
(2,814,404)
 
 
(2,725,665)

Total assets less current liabilities
  
509,920
598,659

  

Net assets
  
509,920
598,659


Capital and reserves
  

Called up share capital 
 8 
500,002
500,002

Profit and loss account
 9 
9,918
98,657

  
509,920
598,659


Page 2

 
WWSP Limited
Registered number:NI628035

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 year 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 statement of comprehensive income 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 on 19 September 2024.




Richard Watson
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
WWSP Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

WWSP Limited is a company limited by shares and incorporated in Northern Ireland. The registered office address is The Ewart, 3 Bedford Square, Belfast, BT2 7EP. The principal activity of the company is that of holding of shares.

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 (see note 3).
The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
WWSP Limited
 

Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually
evaluatedand are based on historical experience and other factors, including expectations of future events
that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of
judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related
actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Carrying value of investments
Investment in subsidiary undertakings is measured at cost less accumulated impairment. Where there is an indication of impairment the recoverable amount is estimated and compared with the carrying amount. The estimate of recoverable amount is considered in light of the trading and balance sheet strength of the subsidiary together with the director's best estimate of future performance of the subsidiary.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
WWSP Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
3,324,324



At 31 December 2023
3,324,324






Net book value



At 31 December 2023
3,324,324



At 31 December 2022
3,324,324


6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
86,747
44,274

Prepayments and accrued income
1,818
958

88,565
45,232



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to connected company
2,898,515
2,766,444

Accruals and deferred income
4,454
4,453

2,902,969
2,770,897



8.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



500,002 (2022 - 500,002) Ordinary shares of £1.00 each
500,002
500,002


Page 6

 
WWSP Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

9.


Reserves

Profit and loss account

This includes all current and prior period retained profits and losses.


10.


Related party transactions

The company has availed of the exemption under FRS102 section 33 which does not require disclosure of transactions entered into between any subsidiary undertaking which is wholly owned by a member of that group.
During the year the company had net transactions of £132,071 with a company which is connected by common control. At the year end the balance owed to that company was £2,898,515 (2022: £2,766,444). The loan is unsecured, interest free and repayable upon demand. 


Page 7