Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312true22023-01-01falseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10831759 2023-01-01 2023-12-31 10831759 2022-01-01 2022-12-31 10831759 2023-12-31 10831759 2022-12-31 10831759 c:Director1 2023-01-01 2023-12-31 10831759 d:OfficeEquipment 2023-01-01 2023-12-31 10831759 d:OfficeEquipment 2023-12-31 10831759 d:OfficeEquipment 2022-12-31 10831759 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10831759 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 10831759 d:OtherPropertyPlantEquipment 2023-12-31 10831759 d:OtherPropertyPlantEquipment 2022-12-31 10831759 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10831759 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10831759 d:ComputerSoftware 2023-12-31 10831759 d:ComputerSoftware 2022-12-31 10831759 d:CurrentFinancialInstruments 2023-12-31 10831759 d:CurrentFinancialInstruments 2022-12-31 10831759 d:Non-currentFinancialInstruments 1 2023-12-31 10831759 d:Non-currentFinancialInstruments 1 2022-12-31 10831759 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10831759 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10831759 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10831759 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10831759 d:ShareCapital 2023-12-31 10831759 d:ShareCapital 2022-12-31 10831759 d:RetainedEarningsAccumulatedLosses 2023-12-31 10831759 d:RetainedEarningsAccumulatedLosses 2022-12-31 10831759 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10831759 c:OrdinaryShareClass1 2023-12-31 10831759 c:OrdinaryShareClass1 2022-12-31 10831759 c:OrdinaryShareClass2 2023-01-01 2023-12-31 10831759 c:OrdinaryShareClass2 2023-12-31 10831759 c:OrdinaryShareClass2 2022-12-31 10831759 c:PreferenceShareClass1 2023-01-01 2023-12-31 10831759 c:PreferenceShareClass1 2023-12-31 10831759 c:PreferenceShareClass1 2022-12-31 10831759 c:FRS102 2023-01-01 2023-12-31 10831759 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10831759 c:FullAccounts 2023-01-01 2023-12-31 10831759 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10831759 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 10831759 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10831759













WICKLEWOOD LTD
UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023


 
WICKLEWOOD LTD
REGISTERED NUMBER:10831759


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
6,360
7,080

Tangible assets
 5 
5,144
6,588

  
11,504
13,668

Current assets
  

Stocks
 6 
97,243
121,674

Debtors: amounts falling due within one year
 7 
12,780
8,486

Cash at bank and in hand
  
10,000
55,279

  
120,023
185,439

Creditors: amounts falling due within one year
 8 
(129,511)
(130,022)

Net current (liabilities)/assets
  
 
 
(9,488)
 
 
55,417

Total assets less current liabilities
  
2,016
69,085

Creditors: amounts falling due after more than one year
 9 
(56,960)
(56,960)

  

Net (liabilities)/assets
  
(54,944)
12,125


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(55,044)
12,025

  
(54,944)
12,125


Page 1


 
WICKLEWOOD LTD
REGISTERED NUMBER:10831759

    
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 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 by: 


C D Nadel
Director

Date: 19 September 2024

Page 2


 
WICKLEWOOD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Wicklewood Limited is a limited liability company incorporated and domiciled in England and Wales. The company’s registered office and trading address is 2 Inkerman Terrace, Allen Street, London, W8 6QX. 
The principal activity of the company during the period is that of the design and sale of textiles and other home furnishings. 

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Going concern

During the year ended 31 December 2023 the company reported a loss £67,069 which increased the balance sheet deficit to £54,944 at the period end. Of this deficit, £62,671 is owed to a related party (see note 13) who will not request repayment until the company is in a position to meet its ongoing operational liabilities as they fall due.
This result is consistent with the director's expectations during a period in which the company establishes itself in the market place. Since the balance sheet date, turnover levels have increased significantly and profitability is anticipated in the short term.
In light of the above and after taking into account all information that could reasonably be expected to be available, the directors are confident that the company will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the company's financial statements.

Page 3


 
WICKLEWOOD LTD
 

 
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 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'.

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 4


 
WICKLEWOOD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined benefit pension plan

The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Balance Sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the balance sheet date less the fair value of plan assets at the balance sheet date (if any) out of which the obligations are to be settled.

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

 
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

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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.

Page 5


 
WICKLEWOOD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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:

Office equipment
-
33%
Colourist and documents
-
10%

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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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
Page 6


 
WICKLEWOOD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

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.

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.

 
2.16

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.


3.


Employees

2023
2022
£
£

Wages and salaries
58,818
52,605

Social security costs
2,497
4,312

Cost of defined benefit scheme
1,238
895

62,553
57,812


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

Page 7


 
WICKLEWOOD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Intangible assets




Website

£



Cost


At 1 January 2023
7,200



At 31 December 2023

7,200



Amortisation


At 1 January 2023
120


Charge for the period on owned assets
720



At 31 December 2023

840



Net book value



At 31 December 2023
6,360



At 31 December 2022
7,080



Page 8


 
WICKLEWOOD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Office equipment
Colourist and documents
Total

£
£
£



Cost or valuation


At 1 January 2023
17,093
8,924
26,017


Additions
1,031
-
1,031



At 31 December 2023

18,124
8,924
27,048



Depreciation


At 1 January 2023
15,209
4,219
19,428


Charge for the period on owned assets
1,584
892
2,476



At 31 December 2023

16,793
5,111
21,904



Net book value



At 31 December 2023
1,331
3,813
5,144



At 31 December 2022
1,884
4,704
6,588


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
97,243
121,674



7.


Debtors

2023
2022
£
£


Trade debtors
5,848
6,304

Other debtors
1,932
252

Prepayments and accrued income
5,000
1,930

12,780
8,486


Page 9


 
WICKLEWOOD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank overdrafts
9
-

Trade creditors
29,355
5,385

Corporation tax
-
1,681

Other taxation and social security
10,577
5,006

Other creditors
83,621
112,368

Accruals and deferred income
5,949
5,582

129,511
130,022



9.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Share capital treated as debt
56,960
56,960



10.


Share capital

2023
2022
£
£
Shares classified as equity

Allotted, called up and fully paid



5,000 (2022 - 5,000) Ordinary A shares of £0.01 each
50
50
5,000 (2022 - 5,000) Ordinary B shares of £0.01 each
50
50

100

100

2023
2022
£
£
Shares classified as debt

Allotted, called up and fully paid



56,960 (2022 - 56,960) Preference shares shares of £1.00 each
56,960
56,960


Page 10


 
WICKLEWOOD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,238 (2022 - £895). Contributions totalling £258 (2022 - £177) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

Material balances and transactions with related parties arising during the year were as follows: 
Balances with related parties: 


2023
2022
£
£

C D Nadel (included within other creditors)
62,671
71,998

The above balances are unsecured, interest free and repayable on demand. 
Nature of relationship and control 
C D Nadel is a director and shareholder of the company. 
The company is controlled by C D Nadel by virtue of her 75% ownership of the company’s issued share capital. 

 
Page 11