REGISTERED NUMBER: |
WFF (YORK) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
REGISTERED NUMBER: |
WFF (YORK) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
BALANCE SHEET |
27 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
BALANCE SHEET - continued |
27 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
1. | STATUTORY INFORMATION |
Wff (York) Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
It is intended that the company be wound up in the near future so that the going concern basis of account preparation is no longer relevant. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
Goodwill | licences | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 27 March 2024 |
AMORTISATION |
At 1 April 2023 |
and 27 March 2024 |
NET BOOK VALUE |
At 27 March 2024 |
At 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals |
At 27 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal |
At 27 March 2024 |
NET BOOK VALUE |
At 27 March 2024 |
At 31 March 2023 |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 27 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 27 March 2024 |
NET BOOK VALUE |
At 27 March 2024 |
At 31 March 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 April 2023 |
and 27 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 27 March 2024 |
NET BOOK VALUE |
At 27 March 2024 |
At 31 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments and accrued income |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Wages control | 23,633 | 20,809 |
Pension control | 1,000 | 758 |
Other creditors |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 9) |
Directors' loan accounts | - | 158,980 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 14,979 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 14,979 |
WFF (YORK) LIMITED (REGISTERED NUMBER: 06548612) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 27 MARCH 2024 |
10. | RELATED PARTY DISCLOSURES |
ACCA Land Limited |
A company which L S Sohal is a shareholder and director. |
During the year the loan was waived and released to the profit and loss account. |
Amount due to related party at the balance sheet date £Nil (2023 - £250,000). |
This loan is unsecured, there is no interest payable and there are no agreed repayments terms. |
SRK Group Limited |
A company which L S Sohal is a shareholder and director. |
During the year the loan was waived and released to the profit and loss account.. |
Amount due from related party at the balance sheet date £Nil (2023 - £75,000). |
This loan is unsecured, there is no interest payable and there are no agreed repayments terms. |
Larentia Limited |
A company which and L S Sohal is a shareholder and director. |
During the year the loan was waived and released to the profit and loss account. |
Amount due to related party at the balance sheet date £Nil (2023 - £25,000). |
This loan is unsecured, there is no interest payable and there are no agreed repayments terms. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is York Group Ltd. |
At the balance sheet date the ultimate parent company of WFF (York) Limited is York Group Limited which is incorporated in England and Wales. |
The registered office of the ultimate parent company is 71 Knowl Piece, Wilbury Way, Hitchin, Herts, SG4 0TY. |
The parent company, York Group Limited has not prepared group accounts as it is exempted from the requirement to do so by Section 398 of the Companies Act 2006. The company meets the qualifying conditions for a small sized group as laid down in section 398 of the Act. |
York Group Limited is jointly controlled by Mr L S Sohal and Mr A Rai. |
Post year end the company is now owned by Apetio Ltd. |
Apetito Limited prepares financial statements and they can be obtained at the following address: |
Apetito |
Canal Road |
Trowbridge |
England |
BA14 8 RJ |