Registration number:
Prepared for the registrar
for the
Year Ended 31 March 2024
Wiggin Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Wiggin Holdings Limited
Company Information
Directors |
J R Banister A M Jones S D R Quli |
Registered office |
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Auditors |
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Wiggin Holdings Limited
(Registration number: 13195642)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Profit and loss account |
(91,667) |
- |
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Shareholders' (deficit)/funds |
(91,666) |
1 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Wiggin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
The company is a member of a group that is majority owned and controlled by Wiggin LLP. The members of Wiggin LLP have prepared an assessment, in line with forecasts made, on the going concern of the group as a whole. After reviewing the group’s forecasts and projections, the members have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its financial statements.
A letter of support has been issued by Wiggin LLP to the company to confirm that it will continue to provide financial support for at least 12 months from the date of this report. The directors are therefore satisfied that the company remains a going concern for the appropriate period of assessment.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Wiggin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Wiggin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Wiggin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost |
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At 1 April 2023 |
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Additions |
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Impairment |
( |
At 31 March 2024 |
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Provision |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Jessop House, Jessop Avenue, Cheltenham, GL50 3WG United Kingdom |
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10th Floor, The Met Building, 22 Percy Street, London, W1T 2BU United Kingdom |
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Jessop House, Jessop Avenue, Cheltenham, GL50 3WG United Kingdom |
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Jessop House, Jessop Avenue, Cheltenham, GL50 3WG United Kingdom |
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Wiggin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Subsidiary undertakings |
Riagla (Governance, Risk and Compliance) Limited The principal activity of Riagla (Governance, Risk and Compliance) Limited is |
Viewfinder Film Limited The principal activity of Viewfinder Film Limited is |
IR35 Manager Limited The principal activity of IR35 Manager Limited is |
Wiggin Interactive Limited The principal activity of Wiggin Interactive Limited is |
Wiggin Interactive Limited was acquired from a wholly-owned subsidiary within the group during the year, no unrealised profit arose on acquisition. On identification of an indicator, management performed an impairment assessment which resulted in an impairment in the period.
Creditors |
Note |
2024 |
2023 |
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Due within one year |
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Amounts due to related parties |
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Related party transactions |
Summary of transactions with all subsidiaries
Parent and ultimate parent undertaking |
The immediate controlling party (by way of shareholding) is Wiggin LLP, a limited liability partnership incorporated in England and Wales.
The largest undertaking in which the results of the company are consolidated is Wiggin LLP. Copies of the consolidated financial statements of Wiggin LLP are available from Companies House.
The members of Wiggin LLP are the ultimate controlling party by virtue of their controlling interest in the limited liability partnership.
Non adjusting events after the financial period |
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Audit report |