Company registration number 09925422 (England and Wales)
WCDC HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
WCDC HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WCDC HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
2,068,536
2,068,536
Current assets
Debtors
5
253,205
336,283
Cash at bank and in hand
2,180
5,316
255,385
341,599
Creditors: amounts falling due within one year
6
(84,000)
(84,000)
Net current assets
171,385
257,599
Total assets less current liabilities
2,239,921
2,326,135
Creditors: amounts falling due after more than one year
7
(1,229,904)
(1,316,118)
Net assets
1,010,017
1,010,017
Capital and reserves
Called up share capital
8
515
515
Share premium account
1,009,502
1,009,502
Total equity
1,010,017
1,010,017

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

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year 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.

WCDC HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 15 October 2024
Mr D Williams
Director
Company registration number 09925422 (England and Wales)
WCDC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

WCDC Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Bellevue Road, Wrexham, LL13 7NH.

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

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

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3
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.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

WCDC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
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.

2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2,068,536
2,068,536
WCDC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Subsidiaries

Details of the company's subsidiaries at 30 April 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Woodlands Childrens Development Centre Limited
England & Wales
Ordinary
100.00
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
253,205
336,283
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
84,000
84,000

The bank loan is secured by a debenture comprising fixed and floating charges over all the assets and undertakings of WCDC Holdings Limited and Woodlands Children's Development Centre Limited, including all present and future freehold and leasehold property, book and other debts, chattels, goodwill, uncalled capital, both present and future. The loan is for a 15 year period from the date of drawdown and is accruing interest 2.25% above the Bank of England base rate.

 

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,229,904
1,316,118

The bank loan is secured by a debenture comprising fixed and floating charges over all the assets and undertakings of WCDC Holdings Limited and Woodlands Children's Development Centre Limited, including all present and future freehold and leasehold property, book and other debts, chattels, goodwill, uncalled capital, both present and future. The loan is for a 15 year period from the date of drawdown and is accruing interest 2.25% above the Bank of England base rate.

 

 

 

WCDC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
5
5
5
5
B Ordinary shares of £1 each
5
5
5
5
C Ordinary shares of £1 each
5
5
5
5
D Ordinary shares of £1 each
400
400
400
400
E Ordinary shares of £1 each
48
48
48
48
F Ordinary shares of £1 each
26
26
26
26
G Ordinary shares of £1 each
26
26
26
26
515
515
515
515
9
Related party transactions

The company has taken advantage of the exemption conferred by section 1A of FRS 102 not to disclose transactions with the wholly owned subsidiary.

10
Directors' transactions

Dividends totalling £342,960 (2023 - £224,396) were paid in the year in respect of shares held by the company's directors and their children/immediate family.

11
Parent company

The Company is controlled by the Director, Mr D Williams, by virtue of his majority shareholding.

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