Company registration number 05137560 (England and Wales)
WADE CORPORATE SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 1 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
WADE CORPORATE SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WADE CORPORATE SERVICES LIMITED
COMPANY INFORMATION
Directors
P Davies
(Appointed 2 December 2023)
H M Lovett
(Appointed 2 December 2023)
Company number
05137560
Registered office
20 St Dunstan's Hill
London
EC3R 8HL
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
WADE CORPORATE SERVICES LIMITED
BALANCE SHEET
AS AT
1 DECEMBER 2023
01 December 2023
- 1 -
1 December 2023
31 May 2023
Notes
£
£
£
£
Fixed assets
Investments
4
176,288
176,288
Current assets
Debtors
5
246,144
204,570
Cash at bank and in hand
49,783
49,825
295,927
254,395
Creditors: amounts falling due within one year
6
(31,787)
(16,136)
Net current assets
264,140
238,259
Net assets
440,428
414,547
Capital and reserves
Called up share capital
7
49
49
Capital redemption reserve
3
3
Profit and loss reserves
440,376
414,495
Total equity
440,428
414,547

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

For the financial period ended 1 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 period 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 by the board of directors and authorised for issue on 8 October 2024 and are signed on its behalf by:
P Davies
Director
Company registration number 05137560 (England and Wales)
WADE CORPORATE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 1 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Wade Corporate Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 St Dunstan's Hill, London, EC3R 8HL.

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 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 financial statements are prepared in UK sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

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

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Reporting period

On 2 December 2023 the company was acquired by Foster Denovo Group Limited and thus the company's accounting period has been shortened to match the date of completion. Therefore, the previous accounting period is 5 months and 29 days longer and so comparative figures are not directly comparable.

1.3
Turnover

Turnover represents licence fee income receivable under an asset licencing agreement.

1.4
Fixed asset investments

Investments in subsidiary undertakings are recognised at cost.

1.5
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.

1.6
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.

WADE CORPORATE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 1 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable 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 and deferred taxation assets and liabilities are not discounted.

Current tax

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.

1.8

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.9

Impairment of assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.10

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

2
Employees

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

2023
2023
Number
Number
Total
-
0
-
0
WADE CORPORATE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 1 DECEMBER 2023
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2023 and 1 December 2023
80,000
Amortisation and impairment
At 1 June 2023 and 1 December 2023
80,000
Carrying amount
At 1 December 2023
-
0
At 31 May 2023
-
0
4
Fixed asset investments
2023
2023
£
£
Shares in group undertakings and participating interests
176,288
176,288
5
Debtors
2023
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
7,188
7,188
Amounts owed by group undertakings
226,550
184,976
Other debtors
12,406
12,406
246,144
204,570
6
Creditors: amounts falling due within one year
2023
2023
£
£
Corporation tax
24,119
14,516
Accruals and deferred income
7,668
1,620
31,787
16,136
7
Called up share capital
2023
2023
2023
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 50p each
38
38
19
19
Ordinary C of 50p each
57
57
29
29
Ordinary D of 50p each
1
1
1
1
96
96
49
49
WADE CORPORATE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 1 DECEMBER 2023
7
Called up share capital
(Continued)
- 5 -
8
Events after the reporting date

On 2 December 2023, 100% of the share capital in the company was acquired by Foster Denovo Group Limited.

 

9
Related party transactions

The following amounts were outstanding at the reporting end date:

2023
2023
Amounts due from related parties
£
£
Key management personnel
4,354
4,354
Other information

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.

10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Closing balance
£
£
S Conway - director
-
8,052
8,052
8,052
8,052

No interest has been charged on the above loan.

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