REGISTERED NUMBER: |
W M GROUP HOLDINGS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
W M GROUP HOLDINGS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
W M GROUP HOLDINGS LTD (REGISTERED NUMBER: 11861800) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Certified Accountants' Report | 6 |
W M GROUP HOLDINGS LTD |
COMPANY INFORMATION |
for the year ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Brook House |
47 High Street |
Henley in Arden |
Warwickshire |
B95 5AA |
W M GROUP HOLDINGS LTD (REGISTERED NUMBER: 11861800) |
BALANCE SHEET |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 | 100 | 100 |
Capital redemption reserve | 11 | 1,300,000 | 1,200,000 |
Retained earnings | 11 | 777,855 | 586,944 |
SHAREHOLDERS' FUNDS | 2,077,955 | 1,787,044 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
W M GROUP HOLDINGS LTD (REGISTERED NUMBER: 11861800) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
W M Group Holdings Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about W M Group Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Tangible fixed assets |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Long |
leasehold |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
W M GROUP HOLDINGS LTD (REGISTERED NUMBER: 11861800) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | DEBTORS |
31/3/24 | 31/3/23 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
VAT |
Amounts falling due after more than one year: |
Prepayments and accrued income |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax payable |
Other creditors |
Directors' loan accounts | 2,509 | 2,509 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Preference shares (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31/3/24 | 31/3/23 |
£ | £ |
Amounts falling due between two and five years: |
Preference shares | - | 100,000 |
W M GROUP HOLDINGS LTD (REGISTERED NUMBER: 11861800) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
9. | LOANS - continued |
In accordance with FRS 102, Section 12, Convertible Redeemable Preferred Ordinary Shares (CRPO) have been classified as non-equity shares. Any dividends payable on such shares will be shown as interest. |
The following rights are attached to the CRPO shares: |
(i) | No right to vote, attend or speak at any general meeting, but entitled to receive notice for information only provided always that the holders of the CRPO shares shall be entitled to vote on any proposed resolution to alter in any way the rights attaching to the CRPO shares and shall then have one vote per share |
(ii) | A right to participate in the assets of the company on a winding up or in the consideration on sale or transfer of the company only to the extent of the value of any unredeemed CRPO shares |
(iii) | A preferred right to a dividend at a minimum rate of 4.0 p per share |
The maximum number of CRPO shares to be redeemed at the option of the company in any year is restricted to 300,000. However, each holder of CRPO shares has the right to redeem up to 225,000 CRPO shares held by them each year. |
Accordingly, there is flexibility for redemption of between 0 and 300,000 CRPO shares each year. However, all CRPO shares must be redeemed by the date of the sixth anniversary of their date of issue of 15 March 2019. |
The CRPO shares may be redeemed in full at the option of the shareholders in the event of the provisions contained in Part V, Chapter 3, TCGA 1992 (Entrepreneur's Relief) are abolished without being replaced by provisions providing for an equivalent or more favourable relief. |
No premium is payable on redemption. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/24 | 31/3/23 |
value: | £ | £ |
50 | Ordinary A | 1 | 50 | 50 |
50 | Ordinary B | 1 | 50 | 50 |
100 | 100 |
VOTING RIGHTS |
(i) A member shall have one vote for every share of which he/she is a holder |
(ii) A right to participate in the assets of the company on a winding up or in consideration on sale or transfer of the company |
(iii) A right to a dividend if declared on the ordinary shares in the capital of the company |
11. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2023 | 1,200,000 |
Profit for the year |
Dividends | ( | ) | ( | ) |
Cash share issue | (100,000 | ) | 100,000 | - |
At 31 March 2024 | 1,300,000 | 2,077,855 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Directors loans are payable on demand and interest on loans is accrued and paid at commercial rates. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
W M GROUP HOLDINGS LTD |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W M Group Holdings Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of W M Group Holdings Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W M Group Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of W M Group Holdings Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that W M Group Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W M Group Holdings Ltd. You consider that W M Group Holdings Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of W M Group Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Certified Accountants |
Brook House |
47 High Street |
Henley in Arden |
Warwickshire |
B95 5AA |