Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false52023-05-01No description of principal activity5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11851713 2023-05-01 2024-04-30 11851713 2022-05-01 2023-04-30 11851713 2024-04-30 11851713 2023-04-30 11851713 c:Director1 2023-05-01 2024-04-30 11851713 d:Buildings 2023-05-01 2024-04-30 11851713 d:Buildings 2024-04-30 11851713 d:Buildings 2023-04-30 11851713 d:LandBuildings 2024-04-30 11851713 d:LandBuildings 2023-04-30 11851713 d:CurrentFinancialInstruments 2024-04-30 11851713 d:CurrentFinancialInstruments 2023-04-30 11851713 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 11851713 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11851713 d:ShareCapital 2024-04-30 11851713 d:ShareCapital 2023-04-30 11851713 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 11851713 d:RetainedEarningsAccumulatedLosses 2024-04-30 11851713 d:RetainedEarningsAccumulatedLosses 2023-04-30 11851713 d:OtherDeferredTax 2024-04-30 11851713 d:OtherDeferredTax 2023-04-30 11851713 c:OrdinaryShareClass1 2023-05-01 2024-04-30 11851713 c:OrdinaryShareClass1 2024-04-30 11851713 c:OrdinaryShareClass1 2023-04-30 11851713 c:OrdinaryShareClass2 2023-05-01 2024-04-30 11851713 c:OrdinaryShareClass2 2024-04-30 11851713 c:OrdinaryShareClass2 2023-04-30 11851713 c:FRS102 2023-05-01 2024-04-30 11851713 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11851713 c:FullAccounts 2023-05-01 2024-04-30 11851713 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11851713 5 2023-05-01 2024-04-30 11851713 6 2023-05-01 2024-04-30 11851713 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11851713
















WABCO HOLDINGS LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

































WABCO HOLDINGS LIMITED

 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WABCO HOLDINGS LIMITED
FOR THE YEAR ENDED 30 APRIL 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 Wabco Holdings Limited for the year ended 30 April 2024 which comprise  the Statement of financial position 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 Wabco Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wabco Holdings Limited and state those matters that we have agreed to state to the Board of directors of Wabco 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 Wabco Holdings Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Wabco 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 profit of Wabco Holdings Limited. You consider that Wabco 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 Wabco 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.

  




Bishop Fleming LLP
Chartered Accountants
10 Temple Back
Bristol
BS1 6FL
21 November 2024
Page 1


WABCO HOLDINGS LIMITED
REGISTERED NUMBER:11851713

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
(as restated)
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,044,319
4,000,000

Investments
 5 
2,224,800
2,224,800

  
6,269,119
6,224,800

Current assets
  

Debtors: amounts falling due within one year
 6 
15
-

  
15
-

Creditors: amounts falling due within one year
 7 
(3,257,045)
(3,212,726)

Net current liabilities
  
 
 
(3,257,030)
 
 
(3,212,726)

Total assets less current liabilities
  
3,012,089
3,012,074

Provisions for liabilities
  

Deferred tax
  
(250,495)
(250,495)

  
 
 
(250,495)
 
 
(250,495)

Net assets
  
2,761,594
2,761,579


Capital and reserves
  

Called up share capital 
 9 
2,010,015
2,010,000

Profit and loss account
  
751,579
751,579

  
2,761,594
2,761,579


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 company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 



Page 2


WABCO HOLDINGS LIMITED
REGISTERED NUMBER:11851713
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024



Mr A R Baker
Director

Date: 21 November 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3


WABCO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Wabco Holdings Limited is a private company, limited by shares, incorporated in England within the United Kingdom. Its registered office is Quercus Court, Armstrong Way Great Western Business Park, Yate, Bristol, BS37 5NG and its registered number is 11851713.

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 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

GOING CONCERN

Despite the net current liabilities position, the directors have undertaken to support the company for the foreseeable future, and therefore consider it appropriate for the accounts to be prepared on a going concern basis.

 
2.3

CURRENT AND DEFERRED 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model 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


WABCO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
none

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.

 
2.5

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

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 reporting 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.

 
2.7

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.

 
2.8

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


WABCO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.9

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

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 the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
5
5


4.


TANGIBLE FIXED ASSETS





Freehold property

£



COST OR VALUATION


At 1 May 2023
4,000,000


Transfers intra group
44,319



At 30 April 2024

4,044,319






NET BOOK VALUE



At 30 April 2024
4,044,319



At 30 April 2023
4,000,000

Page 6


WABCO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

           4.TANGIBLE FIXED ASSETS (CONTINUED)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
4,044,319
4,000,000

4,044,319
4,000,000


Cost or valuation at 30 April 2024 is as follows:

Land and buildings
£


AT COST
-
AT VALUATION:

30/04/2024 revaluation by directors
4,044,319



4,044,319

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
3,042,342
2,998,023

NET BOOK VALUE
3,042,342
2,998,023


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 May 2023
2,224,800



At 30 April 2024
2,224,800




Page 7


WABCO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


DEBTORS

2024
2023
£
£


Other debtors
15
-

15
-



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Amounts owed to group undertakings
3,257,045
3,212,726

3,257,045
3,212,726



8.


DEFERRED TAXATION




2024


£






At beginning of year
(250,495)



AT END OF YEAR
(250,495)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax on revaluation
(250,495)
(250,495)

(250,495)
(250,495)


9.


SHARE CAPITAL

2024
2023
£
£
AUTHORISED, ALLOTTED, CALLED UP AND FULLY PAID



10,015 (2023: 10,000) Ordinary shares of £1.00 each
10,015
10,000
2,000,000 (2023: 2,000,000) Preference shares of £1.00 each
2,000,000
2,000,000

2,010,015

2,010,000


Page 8


WABCO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.SHARE CAPITAL (CONTINUED)

During the year the company issued 15 £1 ordinary shares. All shares were taken up at par value.


10.


RESERVES

Profit and loss account

The profit and loss reserve includes both distributable and non-distributable reserves. Non-distributable reserves represents cumulative gains and losses on the revaluation of property, net of deferred tax. At the balance sheet date non-distributable reserves totalled £751,482 (2023 - £751,482).


11.


PRIOR YEAR ADJUSTMENT

During the preparation of the 2024 accounts, it was identified that the reported share capital for 2023 was understated by £9,900.  This has now been corrected and the Ordinary share capital agrees to Companies House filings.
During the preparation of the 2024 accounts, it was identified that deferred tax had not been included on the revaluation of the property.  This has now been corrected.


12.


RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.

Page 9