Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity22falsetrue 10261111 2023-04-01 2024-03-31 10261111 2022-04-01 2023-03-31 10261111 2024-03-31 10261111 2023-03-31 10261111 c:Director1 2023-04-01 2024-03-31 10261111 d:MotorVehicles 2023-04-01 2024-03-31 10261111 d:MotorVehicles 2024-03-31 10261111 d:MotorVehicles 2023-03-31 10261111 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10261111 d:FreeholdInvestmentProperty 2024-03-31 10261111 d:FreeholdInvestmentProperty 2023-03-31 10261111 d:CurrentFinancialInstruments 2024-03-31 10261111 d:CurrentFinancialInstruments 2023-03-31 10261111 d:Non-currentFinancialInstruments 2024-03-31 10261111 d:Non-currentFinancialInstruments 2023-03-31 10261111 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10261111 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10261111 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10261111 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10261111 d:ShareCapital 2024-03-31 10261111 d:ShareCapital 2023-03-31 10261111 d:SharePremium 2024-03-31 10261111 d:SharePremium 2023-03-31 10261111 d:RetainedEarningsAccumulatedLosses 2024-03-31 10261111 d:RetainedEarningsAccumulatedLosses 2023-03-31 10261111 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10261111 c:OrdinaryShareClass1 2024-03-31 10261111 c:OrdinaryShareClass2 2023-04-01 2024-03-31 10261111 c:OrdinaryShareClass2 2024-03-31 10261111 c:FRS102 2023-04-01 2024-03-31 10261111 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10261111 c:FullAccounts 2023-04-01 2024-03-31 10261111 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10261111 d:WithinOneYear 2024-03-31 10261111 d:WithinOneYear 2023-03-31 10261111 d:BetweenOneFiveYears 2024-03-31 10261111 d:BetweenOneFiveYears 2023-03-31 10261111 6 2023-04-01 2024-03-31 10261111 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10261111










WILSON PROCON LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WILSON PROCON LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
WILSON PROCON LTD
REGISTERED NUMBER: 10261111

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
48,559
60,699

Investments
 5 
82,164
82,164

Investment property
 6 
1,675,637
1,675,637

  
1,806,360
1,818,500

Current assets
  

Debtors: amounts falling due within one year
 7 
304,385
302,145

Cash at bank and in hand
 8 
2,401
1,997

  
306,786
304,142

Creditors: amounts falling due within one year
 9 
(617,450)
(307,634)

Net current liabilities
  
 
 
(310,664)
 
 
(3,492)

Total assets less current liabilities
  
1,495,696
1,815,008

Creditors: amounts falling due after more than one year
 10 
(493,596)
(849,762)

  

Net assets
  
1,002,100
965,246


Capital and reserves
  

Called up share capital 
 11 
200
200

Share premium account
  
745,641
745,641

Profit and loss account
  
256,259
219,405

  
1,002,100
965,246


Page 1

 
WILSON PROCON LTD
REGISTERED NUMBER: 10261111
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 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 income and retained earnings 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 by: 






................................................
D Wilson
Director

Date: 1 October 2024


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WILSON PROCON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Wilson Procon Ltd is a private Company limited by shares, incorporated in England and Wales, registration number 10261111. It's registered office and principal place of business is Century House, 1 The Lakes, Northampton, NN4 7HD.

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

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
WILSON PROCON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WILSON PROCON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.8

Investment property

Investment properties are carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

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.

 
2.11

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.

 
2.12

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 5

 
WILSON PROCON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees



The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 April 2023
85,895



At 31 March 2024

85,895



Depreciation


At 1 April 2023
25,196


Charge for the year on owned assets
12,140



At 31 March 2024

37,336



Net book value



At 31 March 2024
48,559



At 31 March 2023
60,699

Page 6

 
WILSON PROCON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
82,164



At 31 March 2024
82,164





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,675,637



At 31 March 2024
1,675,637

The 2024 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Trade debtors
4,285
2,045

Other debtors
300,000
300,000

Called up share capital not paid
100
100

304,385
302,145



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,401
1,997


Page 7

 
WILSON PROCON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank mortgages
11,605
10,947

Other creditors
597,326
288,362

Accruals and deferred income
8,519
8,325

617,450
307,634


The bank mortgages are secured.


10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank mortgages
456,432
812,598

Other loans
37,164
37,164

493,596
849,762


The bank mortgages are secured.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable by instalments
192,734
208,294

Repayable other than by instalments
98,817
442,717

291,551
651,011

Please provide details of the terms of payment or repayment and the rates of any interest payable on the amounts repayable more than five years after the balance sheet date.

Page 8

 
WILSON PROCON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



160 (2023 - 180) Ordinary A shares of £1.00 each
160
180
40 (2023 - 20) Ordinary B shares of £1.00 each
40
20

200

200

On 4 April 2023 20 Ordinary A shares were reclassified as Ordinary B shares.



12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
9,348
9,348

Later than 1 year and not later than 5 years
5,453
14,801

14,801
24,149


13.


Related party transactions

At 31 March 2024 there was a balance due to the directors of £588,027 (2023 - £288,362). This has no fixed repayment date. Included in this balance is £340,000.  interest is being charged on the £340,000 at 6.5% per annum. The balance of the loan is interest free.

 
Page 9