0 false false false false false false false false false false true false false false false true true No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 620,000 12,917 12,916 25,833 594,167 607,083 xbrli:pure xbrli:shares iso4217:GBP 13577333 2023-09-01 2024-03-31 13577333 2024-03-31 13577333 2023-08-31 13577333 2022-09-01 2023-08-31 13577333 2023-08-31 13577333 2022-08-31 13577333 core:NetGoodwill 2023-09-01 2024-03-31 13577333 bus:OrdinaryShareClass1 2023-09-01 2024-03-31 13577333 bus:Director1 2023-09-01 2024-03-31 13577333 core:NetGoodwill 2023-08-31 13577333 core:NetGoodwill 2024-03-31 13577333 core:WithinOneYear 2024-03-31 13577333 core:WithinOneYear 2023-08-31 13577333 core:ShareCapital 2024-03-31 13577333 core:ShareCapital 2023-08-31 13577333 core:RetainedEarningsAccumulatedLosses 2024-03-31 13577333 core:RetainedEarningsAccumulatedLosses 2023-08-31 13577333 core:NetGoodwill 2023-08-31 13577333 bus:SmallEntities 2023-09-01 2024-03-31 13577333 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-03-31 13577333 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-03-31 13577333 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-03-31 13577333 bus:FullAccounts 2023-09-01 2024-03-31 13577333 bus:OrdinaryShareClass1 2024-03-31 13577333 bus:OrdinaryShareClass1 2023-08-31
COMPANY REGISTRATION NUMBER: 13577333
Wychbury Capital Limited
Filleted Unaudited Financial Statements
31 March 2024
Wychbury Capital Limited
Financial Statements
Period from 1 September 2023 to 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Wychbury Capital Limited
Statement of Financial Position
31 March 2024
31 Mar 24
31 Aug 23
Note
£
£
£
£
Fixed assets
Intangible assets
4
594,167
607,083
Current assets
Cash at bank and in hand
16,041
13,774
Creditors: amounts falling due within one year
5
461,456
575,787
---------
---------
Net current liabilities
445,415
562,013
---------
---------
Total assets less current liabilities
148,752
45,070
---------
--------
Net assets
148,752
45,070
---------
--------
Capital and reserves
Called up share capital
6
50
50
Profit and loss account
148,702
45,020
---------
--------
Shareholders funds
148,752
45,070
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 January 2025 , and are signed on behalf of the board by:
Dr K. Sirpal
Director
Company registration number: 13577333
Wychbury Capital Limited
Notes to the Financial Statements
Period from 1 September 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Clark's Courtyard, 145 Granville Street, Birmingham, B1 1SB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
2% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 March 2024
620,000
---------
Amortisation
At 1 September 2023
12,917
Charge for the period
12,916
---------
At 31 March 2024
25,833
---------
Carrying amount
At 31 March 2024
594,167
---------
At 31 August 2023
607,083
---------
5. Creditors: amounts falling due within one year
31 Mar 24
31 Aug 23
£
£
Trade creditors
2,401
2,400
Corporation tax
57,616
18,750
Other creditors
401,439
554,637
---------
---------
461,456
575,787
---------
---------
6. Called up share capital
Issued, called up and fully paid
31 Mar 24
31 Aug 23
No.
£
No.
£
Ordinary shares of £ 1 each
50
50
50
50
----
----
----
----
7. Director's advances, credits and guarantees
At 31st March 2024, other creditors include the following amounts due to the director:- Dr K. Sirpal £400,239 The loans are interest free and for an indefinite period, however they are repayable on demand