Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseIntermediate holding company22truetruefalse 04454829 2023-01-01 2023-12-31 04454829 2022-01-01 2022-12-31 04454829 2023-12-31 04454829 2022-12-31 04454829 c:Director2 2023-01-01 2023-12-31 04454829 d:CurrentFinancialInstruments 2023-12-31 04454829 d:CurrentFinancialInstruments 2022-12-31 04454829 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04454829 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04454829 d:ShareCapital 2023-12-31 04454829 d:ShareCapital 2022-12-31 04454829 d:RetainedEarningsAccumulatedLosses 2023-12-31 04454829 d:RetainedEarningsAccumulatedLosses 2022-12-31 04454829 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04454829 c:OrdinaryShareClass1 2023-12-31 04454829 c:OrdinaryShareClass1 2022-12-31 04454829 c:FRS102 2023-01-01 2023-12-31 04454829 c:Audited 2023-01-01 2023-12-31 04454829 c:FullAccounts 2023-01-01 2023-12-31 04454829 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04454829 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04454829 2 2023-01-01 2023-12-31 04454829 6 2023-01-01 2023-12-31 04454829 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04454829









WINPAC EUROPE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
WINPAC EUROPE LIMITED
REGISTERED NUMBER: 04454829

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
-
-

  
-
-

Current assets
  

Debtors
 6 
520,599
262,224

Cash at bank and in hand
 7 
30,248
24,864

  
550,847
287,088

Creditors: amounts falling due within one year
 8 
(842,696)
(592,583)

Net current liabilities
  
 
 
(291,849)
 
 
(305,495)

Total assets less current liabilities
  
(291,849)
(305,495)

  

Net liabilities
  
(291,849)
(305,495)


Capital and reserves
  

Called up share capital 
 9 
500,000
500,000

Profit and loss account
  
(791,849)
(805,495)

  
(291,849)
(305,495)


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 




V W K Fung
Director

Date: 25 September 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
WINPAC EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Winpac Europe Limited (’the company’) is an investment company. The company is a private company  limited by shares and is incorporated in England. The registered office is Charles Lake House Claire Causeway, Crossways Business Park, Dartford, Kent, United Kingdom, DA2 6QA.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

 
2.3

Going concern

The company has a net liability position at the year-end as a result of difficulties faced following the Covid19 Pandemic and the impact that this has had on the trading subsidiary.
As a result, Winbox Company Limited have provided a letter of support to satisfy the going concern status of the business. On the basis of the above the accounts have been prepared on the going concern basis.

Page 2

 
WINPAC EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR 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

Interest income

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

 
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

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.

 
2.9

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.

Page 3

 
WINPAC EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Investments in subsidiaries are measured at cost less accumulated impairment. The impairment estimation is a significfant judgement. 


4.


Employees




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


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1,138,705



At 31 December 2023

1,138,705



Impairment


At 1 January 2023
1,138,705



At 31 December 2023

1,138,705



Net book value



At 31 December 2023
-



At 31 December 2022
-


6.


Debtors

2023
2022
£
£



Trade debtors
391,553
-

Amounts owed by group undertakings
125,147
259,031

Other debtors
3,899
3,193

520,599
262,224
Page 4

 
WINPAC EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.Debtors (continued)



Amounts due by group undertakings are unsecured, interest free and repayable on demand.


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
30,248
24,864

30,248
24,864



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
28,116
7,748

Amounts owed to group undertakings
805,873
561,151

Other creditors
207
207

Accruals and deferred income
8,500
23,477

842,696
592,583


Amounts due to group undertakings are unsecured, interest free and repayable on demand.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



500,000 (2022 - 500,000) Ordinary Shares shares of £1.00 each
500,000
500,000



10.


Related party transactions

The company has taken advantage of the exemption under Section 33 of FRS 102 regarding the disclosure of transactions entered between members of a group for wholly-owned members of that group. The company's ultimate holding company is Goodwill International (Holdings) Limited, a company incorporated in Hong Kong. A copy of the financial statements of Goodwill International (Holdings) Limited can be obtained from Suite B, 10th Floor, Yardley Commercial Building, 3 Connaught Road West, Sheung Wan, Hong Kong.

Page 5

 
WINPAC EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 September 2024 by Mario Cientanni (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 6