WAA Group Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 06727432 (England and Wales)
WAA Group Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WAA Group Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
806,883
859,326
Current assets
Debtors
5
10,000
10,000
Creditors: amounts falling due within one year
6
(460,023)
(564,556)
Net current liabilities
(450,023)
(554,556)
Net assets
356,860
304,770
Capital and reserves
Called up share capital
7
304,716
304,716
Profit and loss reserves
52,144
54
Total equity
356,860
304,770

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 24 September 2024
Director
Company Registration No. 06727432
WAA Group Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

WAA Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wrens Court 58 Victoria Road, Sutton Coldfield, West Midlands, B72 1SY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

 

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.

WAA Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
806,883
859,326
WAA Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
3
Fixed asset investments
(Continued)
Page 4
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023
859,326
Disposals
(52,443)
At 31 December 2023
806,883
Carrying amount
At 31 December 2023
806,883
At 31 December 2022
859,326
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
Indirect
WAA Chosen Limited
UK
Marketing
Ordinary
100.00
-
Chosen Group Limited
UK
Dormant
Ordinary
100.00
-
Chosen Communications Ltd
UK
Dormant
Ordinary
-
100.00

Registered office addresses (all UK unless otherwise indicated):

Wrens Court, 58 Victoria Road, Sutton Coldfield, West Midlands, B72 1SY
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
WAA Chosen Limited
2,836,182
241,212
Chosen Group Limited
51,524
-
Chosen Communications Ltd
14,172
-
WAA Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
10,000
10,000
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
460,023
564,556
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
304,716
304,716
304,716
304,716
8
Related party transactions

The company has taken advantage of the exemption in Section 1A of FRS102 to not disclose transactions with wholly owned subsidiaries.

9
Parent company

The ultimate controlling party is Mr A Wilson.

2023-12-312023-01-01false24 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityA M WilsonR J Dainterfalsefalse067274322023-01-012023-12-31067274322023-12-31067274322022-12-3106727432core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106727432core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3106727432core:ShareCapital2023-12-3106727432core:ShareCapital2022-12-3106727432core:RetainedEarningsAccumulatedLosses2023-12-3106727432core:RetainedEarningsAccumulatedLosses2022-12-31067274322022-01-012022-12-3106727432core:CurrentFinancialInstruments2022-12-3106727432core:CurrentFinancialInstruments2023-12-3106727432bus:PrivateLimitedCompanyLtd2023-01-012023-12-3106727432bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106727432bus:FRS1022023-01-012023-12-3106727432bus:AuditExemptWithAccountantsReport2023-01-012023-12-3106727432bus:Director12023-01-012023-12-3106727432bus:CompanySecretary12023-01-012023-12-3106727432bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP