Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-01falseNo description of principal activity1517truefalse 08941252 2023-05-01 2024-04-30 08941252 2022-05-01 2023-04-30 08941252 2024-04-30 08941252 2023-04-30 08941252 c:Director1 2023-05-01 2024-04-30 08941252 d:PlantMachinery 2023-05-01 2024-04-30 08941252 d:PlantMachinery 2024-04-30 08941252 d:PlantMachinery 2023-04-30 08941252 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08941252 d:FurnitureFittings 2023-05-01 2024-04-30 08941252 d:FurnitureFittings 2024-04-30 08941252 d:FurnitureFittings 2023-04-30 08941252 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08941252 d:OfficeEquipment 2023-05-01 2024-04-30 08941252 d:OfficeEquipment 2024-04-30 08941252 d:OfficeEquipment 2023-04-30 08941252 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08941252 d:ComputerEquipment 2023-05-01 2024-04-30 08941252 d:ComputerEquipment 2024-04-30 08941252 d:ComputerEquipment 2023-04-30 08941252 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08941252 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08941252 d:Goodwill 2023-05-01 2024-04-30 08941252 d:Goodwill 2024-04-30 08941252 d:Goodwill 2023-04-30 08941252 d:CurrentFinancialInstruments 2024-04-30 08941252 d:CurrentFinancialInstruments 2023-04-30 08941252 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 08941252 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08941252 d:ShareCapital 2024-04-30 08941252 d:ShareCapital 2023-04-30 08941252 d:SharePremium 2024-04-30 08941252 d:SharePremium 2023-04-30 08941252 d:RetainedEarningsAccumulatedLosses 2024-04-30 08941252 d:RetainedEarningsAccumulatedLosses 2023-04-30 08941252 c:FRS102 2023-05-01 2024-04-30 08941252 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08941252 c:FullAccounts 2023-05-01 2024-04-30 08941252 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08941252 2 2023-05-01 2024-04-30 08941252 6 2023-05-01 2024-04-30 08941252 14 2023-05-01 2024-04-30 08941252 d:Goodwill d:OwnedIntangibleAssets 2023-05-01 2024-04-30 08941252 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure


















Waypoint Partners Limited























Unaudited

Financial statements



For the year ended 30 April 2024



Registered number: 08941252

 
Waypoint Partners Limited - Registered number:08941252



Statement of financial position
As at 30 April 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Intangible fixed assets
 4 
3,333
23,334

Tangible fixed assets
 5 
16,549
22,819

Investments
 6 
5,000
5,000

  
24,882
51,153

Current assets
  

Debtors: amounts falling due within one year
 7 
532,019
2,373,069

Cash at bank and in hand
  
175,036
401,629

  
707,055
2,774,698

Creditors: amounts falling due within one year
 8 
(836,247)
(2,529,668)

Net current (liabilities)/assets
  
 
 
(129,192)
 
 
245,030

Total assets less current liabilities
  
(104,310)
296,183

  

Net (liabilities)/assets
  
(104,310)
296,183


Capital and reserves
  

Share capital
  
1
5

Share premium account
  
108,103
108,099

Profit and loss account
  
(212,414)
188,079

  
(104,310)
296,183


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.
Page 1

 
Waypoint Partners Limited - Registered number:08941252



Statement of financial position (continued)
As at 30 April 2024


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: 



Otto Stevens
Director

Date: 9 January 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
Waypoint Partners Limited
 
 

Notes to the financial statements
For the year ended 30 April 2024

1.


General information

Waypoint Partners Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Chancery House, 53-64 Chancery Lane, London, WC2A 1QS. Its registered number is 08941252.

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

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the group's ability to continue as a going concern, considering all relevant information, including the group's current financial position, future cash flow projections, and the expected performance of its subsidiaries.
The group relies significantly on the financial support of its subsidiary, Waypoint Corporate Finance Ltd, which generates the majority of the group's earnings. Waypoint Corporate Finance Ltd has formally confirmed its commitment to provide financial support to the parent company, Waypoint Partners Ltd, as necessary, for the foreseeable future and at least 12 months from the date of these financial statements.
In evaluating the appropriateness of the going concern basis, the directors have reviewed the subsidiary's financial position and performance, noting its stable revenue streams and robust operating cash flows. These factors, combined with the subsidiary's commitment of financial support, provide the directors with reasonable assurance that the group will have adequate resources to meet its obligations as they fall due.
Notwithstanding the reliance on financial support from the subsidiary, the directors have also considered potential risks, including market and operational challenges,and have taken measures to mitigate these risks.  After considering these factors, the directors have a reasonable expectation that the group will continue to operate as a going concern for the foreseeable future.

Page 3

 
Waypoint Partners Limited
 


Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.3

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'.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

Page 4

 
Waypoint Partners Limited
 


Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Taxation

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.


 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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 5

 
Waypoint Partners Limited
 


Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)


2.10
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:

Fixtures and fittings
-
33%
Office equipment
-
33%

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

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.

 
2.13

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.14

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.

 
2.15

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.

 
2.16

Gifts

The company established Waypoint Partners Employee Ownership Trust to enable shares in the company to be held by trustees for the benefit of the company's employees. Distributions made by the company are treated as gifts to the trust so that the trust can meet its obligations. The gift is recognised in the statement of comprehensive income when payment is made.

Page 6

 
Waypoint Partners Limited
 
 

Notes to the financial statements
For the year ended 30 April 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 17).


4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
100,000



At 30 April 2024

100,000



Amortisation


At 1 May 2023
76,667


Charge for the year
20,000



At 30 April 2024

96,667



Net book value



At 30 April 2024
3,333



At 30 April 2023
23,333





Page 7

 
Waypoint Partners Limited
 
 

Notes to the financial statements
For the year ended 30 April 2024

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
2,260
1,829
1,683
84,411
90,183


Additions
-
-
5,735
-
5,735



At 30 April 2024

2,260
1,829
7,418
84,411
95,918



Depreciation


At 1 May 2023
2,260
1,829
(5,799)
69,074
67,364


Charge for the year
-
-
12,005
-
12,005



At 30 April 2024

2,260
1,829
6,206
69,074
79,369



Net book value



At 30 April 2024
-
-
1,212
15,337
16,549



At 30 April 2023
-
-
7,482
15,337
22,819


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
5,000



At 30 April 2024
5,000




Page 8

 
Waypoint Partners Limited
 
 

Notes to the financial statements
For the year ended 30 April 2024

7.



Debtors

2024
2023
£
£


Trade debtors
152,606
282,176

Amounts owed by group undertakings
110,142
13,017

Other debtors
90,638
-

Prepayments and accrued income
178,633
2,077,876

532,019
2,373,069



8.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
147,939
148,513

Amounts owed to group undertakings
81,824
1,663,525

Corporation tax
193,523
191,852

Other taxation and social security
58,067
91,096

Other creditors
11,627
16,897

Accruals and deferred income
343,267
417,785

836,247
2,529,668


Page 9

 
Waypoint Partners Limited
 
 

Notes to the financial statements
For the year ended 30 April 2024


9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charges represents contributions payable by the company to the fund and amounted to £93,618 (2023: £84,594). Contributions totaling £10,960 (2023: £12,011) were payable to the fund at the reporting date.


Page 10