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REGISTERED NUMBER: 10942148 (England and Wales)


















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WILDIX UK LIMITED

WILDIX UK LIMITED (REGISTERED NUMBER: 10942148)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WILDIX UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr G Dixon
Mr S Osler
Mr R Loakes
Mr I K Rowan





REGISTERED OFFICE: Rolt House
St. Nicholas Street
Canal Basin
Coventry
West Midlands
CV1 4LY





REGISTERED NUMBER: 10942148 (England and Wales)





AUDITORS: TGFP
Chartered Accountants & Statutory Auditors
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

WILDIX UK LIMITED (REGISTERED NUMBER: 10942148)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,179 16,031

CURRENT ASSETS
Debtors 5 852,831 535,520
Cash at bank and in hand 352,323 265,482
1,205,154 801,002
CREDITORS
Amounts falling due within one year 6 3,379,420 2,154,250
NET CURRENT LIABILITIES (2,174,266 ) (1,353,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,158,087

)

(1,337,217

)

CREDITORS
Amounts falling due after more than one
year

7

15,834

25,833
NET LIABILITIES (2,173,921 ) (1,363,050 )

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings (2,174,021 ) (1,363,150 )
SHAREHOLDERS' FUNDS (2,173,921 ) (1,363,050 )

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





Mr G Dixon - Director


WILDIX UK LIMITED (REGISTERED NUMBER: 10942148)

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


1. STATUTORY INFORMATION

Wildix UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates value added tax and other sales taxes.

Turnover is recognised when the customer engages in a contract and not over the course of the life of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Financial instruments
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.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 year 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.

WILDIX UK LIMITED (REGISTERED NUMBER: 10942148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In addition, the company has the support of the company's parent undertaking. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 8,785 12,967 21,752
Additions - 6,837 6,837
At 31 December 2023 8,785 19,804 28,589
DEPRECIATION
At 1 January 2023 1,061 4,660 5,721
Charge for year 1,545 5,144 6,689
At 31 December 2023 2,606 9,804 12,410
NET BOOK VALUE
At 31 December 2023 6,179 10,000 16,179
At 31 December 2022 7,724 8,307 16,031

WILDIX UK LIMITED (REGISTERED NUMBER: 10942148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 830,923 525,702
Other debtors 12,310 6,576
Prepayments and accrued income 9,598 3,242
852,831 535,520

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 48,722 77,041
Amounts owed to group undertakings 3,013,471 1,671,623
Net wages creditor 3,063 2,122
Pension creditor - 1,935
VAT 262,491 356,470
Accruals and deferred income 41,673 35,059
3,379,420 2,154,250

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,834 15,833
15,834 25,833

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

BENJAMIN REYNOLDS BSc(Hons) FCA (Senior Statutory Auditor)
for and on behalf of TGFP

9. RELATED PARTY DISCLOSURES

Included in creditors are amounts owing to group companies totalling £3,013,471 (2022 - £1,671,623). These loans are interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Wildix EE OÜ, incorporated in Estonia, which is the smallest and largest group in which these financial statements are consolidated. The accounts can be found at https://ariregister.rik.ee/eng/company/12915667