REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
WRITER INFORMATION UK PRIVATE LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
WRITER INFORMATION UK PRIVATE LIMITED |
WRITER INFORMATION UK PRIVATE LIMITED (REGISTERED NUMBER: 10747578) |
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 |
WRITER INFORMATION UK PRIVATE LIMITED |
COMPANY INFORMATION |
for the year ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Magma House, 16 Davy Court |
Castle Mound Way |
Rugby |
CV23 0UZ |
WRITER INFORMATION UK PRIVATE LIMITED (REGISTERED NUMBER: 10747578) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 5 |
Debtors: amounts falling due after more than one year |
5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
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 director and authorised for issue on |
WRITER INFORMATION UK PRIVATE LIMITED (REGISTERED NUMBER: 10747578) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Writer Information UK Private Limited is a limited company, registered in England and Wales. Its registered office address is Magma House, 16 Davy Court, Castle Mound Way, Rugby, United Kingdom, CV23 0UZ and the registered number is 10747578. |
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. |
The presentational currency of the financial statements is Pound Sterling (£) and figures are rounded to the nearest £1. |
Going concern |
The director has prepared the financial statements on a going concern basis. The director considers the company to have sufficient resources and support to meet its liabilities as they fall due for at least 12 months from the signing of these financial statements and have therefore prepared the financial statements on a going concern basis. Further to this, the parent company, Writer Business Services Private Limited, has the ability and the intention to continue supporting the company's operating activities for at least 12 months from the date of approval. |
Preparation of consolidated financial statements |
The financial statements contain information about Writer Information UK Private Limited 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. |
Investments in subsidiaries |
Investment in the subsidiary company is held at cost less accumulated impairment losses. |
Financial instruments |
(i) Financial assets |
Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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. |
Such assets are subsequently carried at amortised cost using the effective interest rate method. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
WRITER INFORMATION UK PRIVATE LIMITED (REGISTERED NUMBER: 10747578) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
The tax expense for the year comprises current and deferred tax. |
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: |
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Foreign currencies |
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result. |
Interest receivable and interest payable |
Interest receivable is recognised when it falls due and recognised in the profit and loss account. Other similar income includes net foreign exchange income. |
Interest payable and similar charges include net foreign exchange losses that are recognised in the profit and loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
PROVISIONS |
At 1 April 2023 | 175,272 |
Impairments | 73,513 |
At 31 March 2024 | 248,785 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
WRITER INFORMATION UK PRIVATE LIMITED (REGISTERED NUMBER: 10747578) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Office No.5, Yinka - Oba Industrial Estate, Surulere Industrial Road, Off-Adeniyi Jones, Ikeja, Lagos, Nigeria |
Nature of business: |
% |
Class of shares: | holding |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
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. |
At the year end £110,399 (2023: £100,727) was owed by Intelics Solutions Nigeria Limited, a subsidiary. During the year, interest of £5,584 (2023: £5,700) was charged on the outstanding loan balance. |
WRITER INFORMATION UK PRIVATE LIMITED (REGISTERED NUMBER: 10747578) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
10. | ULTIMATE CONTROLLING PARTY |
The company's ultimate parent undertaking and controlling party is Writer Business Services Private Limited, registered at 105, Dr. B. Ambedkar Road, Lalbaug, Mumbai - 400 033, India. |
Writer Business Services Private Limited has two ultimate beneficial owners: |
Mr Denzil Vincent de Souza |
Mrs Cynthia Maria de Souza |
The consolidated accounts of the group are available to the public and may be obtained from Writer Business Services Private Limited., registered at 105, Dr. B. Ambedkar Road, Lalbaug, Mumbai - 400 033, India. |