Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activity42023-03-01false4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13943389 2023-03-01 2024-02-29 13943389 2022-03-01 2023-02-28 13943389 2024-02-29 13943389 2023-02-28 13943389 c:PriorPeriodIncreaseDecrease 2023-03-01 2024-02-29 13943389 d:Director3 2023-03-01 2024-02-29 13943389 d:Director4 2023-03-01 2024-02-29 13943389 c:CurrentFinancialInstruments 2024-02-29 13943389 c:CurrentFinancialInstruments 2023-02-28 13943389 c:CurrentFinancialInstruments 2 2024-02-29 13943389 c:CurrentFinancialInstruments 2 2023-02-28 13943389 c:Non-currentFinancialInstruments 2024-02-29 13943389 c:Non-currentFinancialInstruments 2023-02-28 13943389 c:Non-currentFinancialInstruments 1 2024-02-29 13943389 c:Non-currentFinancialInstruments 1 2023-02-28 13943389 c:CurrentFinancialInstruments c:WithinOneYear 2024-02-29 13943389 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-28 13943389 c:Non-currentFinancialInstruments c:AfterOneYear 2024-02-29 13943389 c:Non-currentFinancialInstruments c:AfterOneYear 2023-02-28 13943389 c:ShareCapital 2024-02-29 13943389 c:ShareCapital 2022-03-01 2023-02-28 13943389 c:ShareCapital 2023-02-28 13943389 c:SharePremium 2023-03-01 2024-02-29 13943389 c:SharePremium 2024-02-29 13943389 c:SharePremium c:PriorPeriodIncreaseDecrease 2023-03-01 2024-02-29 13943389 c:SharePremium 2022-03-01 2023-02-28 13943389 c:SharePremium 2023-02-28 13943389 c:CapitalRedemptionReserve 2023-03-01 2024-02-29 13943389 c:CapitalRedemptionReserve 2024-02-29 13943389 c:CapitalRedemptionReserve c:PriorPeriodIncreaseDecrease 2023-03-01 2024-02-29 13943389 c:CapitalRedemptionReserve 2022-03-01 2023-02-28 13943389 c:CapitalRedemptionReserve 2023-02-28 13943389 c:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 13943389 c:RetainedEarningsAccumulatedLosses 2024-02-29 13943389 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-03-01 2024-02-29 13943389 c:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 13943389 c:RetainedEarningsAccumulatedLosses 2023-02-28 13943389 d:OrdinaryShareClass1 2023-03-01 2024-02-29 13943389 d:OrdinaryShareClass1 2024-02-29 13943389 d:OrdinaryShareClass1 2023-02-28 13943389 d:OrdinaryShareClass2 2023-03-01 2024-02-29 13943389 d:OrdinaryShareClass2 2024-02-29 13943389 d:OrdinaryShareClass2 2023-02-28 13943389 d:OrdinaryShareClass3 2023-03-01 2024-02-29 13943389 d:OrdinaryShareClass3 2024-02-29 13943389 d:OrdinaryShareClass3 2023-02-28 13943389 d:OrdinaryShareClass4 2023-03-01 2024-02-29 13943389 d:OrdinaryShareClass4 2024-02-29 13943389 d:OrdinaryShareClass4 2023-02-28 13943389 d:OrdinaryShareClass5 2023-03-01 2024-02-29 13943389 d:OrdinaryShareClass5 2024-02-29 13943389 d:OrdinaryShareClass5 2023-02-28 13943389 d:PreferenceShareClass1 2023-03-01 2024-02-29 13943389 d:PreferenceShareClass1 2024-02-29 13943389 d:PreferenceShareClass1 2023-02-28 13943389 d:FRS102 2023-03-01 2024-02-29 13943389 d:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13943389 d:FullAccounts 2023-03-01 2024-02-29 13943389 d:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13943389 6 2023-03-01 2024-02-29 13943389 f:PoundSterling 2023-03-01 2024-02-29 13943389 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-03-01 2024-02-29 13943389 c:SharePremium c:PreviouslyStatedAmount 2023-02-28 13943389 c:CapitalRedemptionReserve c:PreviouslyStatedAmount 2023-02-28 13943389 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-02-28 13943389 c:PreviouslyStatedAmount 2023-02-28 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13943389










Whitebread Holdings Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 29 February 2024

 
Whitebread Holdings Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Whitebread Holdings Limited for the year ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Whitebread Holdings Limited for the year ended 29 February 2024 which comprise the Balance sheet, the 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Whitebread Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 8 June 2023Our work has been undertaken solely to prepare for your approval the financial statements of Whitebread Holdings Limited  and state those matters that we have agreed to state to the Board of directors of Whitebread Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whitebread Holdings Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Whitebread Holdings Limited 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 loss of Whitebread Holdings Limited. You consider that Whitebread Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Whitebread Holdings Limited. 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
15 November 2024
Page 1

 
Whitebread Holdings Limited
Registered number: 13943389

Balance sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2,912,435
2,912,435

  
2,912,435
2,912,435

  

Creditors: amounts falling due within one year
 5 
(300,000)
(300,000)

Net current liabilities
  
 
 
(300,000)
 
 
(300,000)

Total assets less current liabilities
  
2,612,435
2,612,435

Creditors: amounts falling due after more than one year
 6 
(1,282,090)
(1,509,702)

  

Net assets
  
1,330,345
1,102,733


Capital and reserves
  

Called up share capital 
  
500,000
500,000

Other equity reserve
  
230,345
302,733

Capital redemption reserve
  
600,000
300,000

  
1,330,345
1,102,733


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 comprehensive income 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 on 15 November 2024.




N Whitebread
Mrs S Gilby
Director
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
Whitebread Holdings Limited
 

Statement of changes in equity
For the year ended 29 February 2024


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£



Loss for the year
-
-
-
(73,142)
(73,142)
Total comprehensive income for the year
-
-
-
(73,142)
(73,142)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(8,000)
(8,000)

Shares issued during the year
500,000
302,733
-
-
802,733

Transfer to/from profit and loss account
-
-
300,000
81,142
381,142


Total transactions with owners
500,000
302,733
300,000
73,142
1,175,875



At 1 March 2023 (as previously stated)
500,000
383,875
-
(81,142)
802,733

Prior year adjustment - correction of error
-
(81,142)
300,000
81,142
300,000


At 1 March 2023 (as restated)
500,000
302,733
300,000
-
1,102,733


Comprehensive income for the year

Loss for the year
-
-
-
(72,388)
(72,388)

Transfer to/from profit and loss account
-
(72,388)
300,000
72,388
300,000


At 29 February 2024
500,000
230,345
600,000
-
1,330,345


The notes on pages 4 to 7 form part of these financial statements.


Share capital

This reserve represents the nominal value of shares that have been issued.


Other equity reserve

This reserve represents the equity component of the redeemable preference shares.


Profit and loss account

This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders.


Capital redemption reserve

This reserve includes the nominal value of shares redeemed by the Company.

Page 3

 
Whitebread Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

1.


General information

Whitebread Holdings Limited ("the company") is a private company limited by shares and is incorporated in England with the registration number 13943389.  The address of the registered office is Gattons Farmhouse, Cooling Street, Cliffe, Rochester, Kent, ME3 7UA.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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 comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.4

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 4

 
Whitebread Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary
Page 5

 
Whitebread Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)

course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.6

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 4 (2023 - 4).


4.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023 (as previously stated)
2,612,434


Prior Year Adjustment

300,000


At 1 March 2023 (as restated)
2,912,434



At 29 February 2024
2,912,434






Net book value



At 29 February 2024
2,912,434



At 28 February 2023 (as restated)
2,912,434


5.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Share capital treated as debt
300,000
300,000

300,000
300,000


Page 6

 
Whitebread Holdings Limited
 

 
Notes to the financial statements
For the year ended 29 February 2024

6.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Share capital treated as debt
1,282,090
1,509,702

1,282,090
1,509,702



7.


Share capital

29 February
28 February
2024
2023
£
£
Shares classified as equity

Allotted, called up and fully paid



82,500 (2023 - 82,500) A ordinary shares of £1.00 each
82,500
82,500
82,500 (2023 - 82,500) B ordinary shares of £1.00 each
82,500
82,500
80,000 (2023 - 80,000) C ordinary shares of £1.00 each
80,000
80,000
80,000 (2023 - 80,000) D ordinary shares of £1.00 each
80,000
80,000
175,000 (2023 - 175,000) E ordinary shares of £1.00 each
175,000
175,000

500,000

500,000

29 February
28 February
2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



1,582,090 (2023 - 1,809,702) Redeemable preference shares shares of £1.00 each
1,582,090
1,809,702



8.


Prior year adjustment

The prior year figures have been amended to include a Capital Redemption Reserve to record the nominal value of shares redeemed by the Company.  This included reversing the impairment of the investment held in the subsidiary undertaking, to recognise the redemption of shares by the subsidiary undertaking as a return on investment rather than a return of investment. 


Page 7