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Company registration number: 05703206
Consult LWC Holdings Limited
Trading as Consult LWC Holdings Limited
Unaudited filleted financial statements
31 March 2024
Consult LWC Holdings Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Consult LWC Holdings Limited
Directors and other information
Director Miss A.B. Lindsay
Secretary Mr A.V. Smith
Company number 05703206
Registered office Waller House
20 New Street
Ledbury
HR8 2DX
Business address Waller House
20 New Street
Ledbury
HR8 2DX
Accountant DJ Accountancy Ltd
Redlands
Leddington
Ledbury
HR8 2LG
Bankers LLoyds Bank PLC
Consult LWC Holdings Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Investments 5 5,000 5,000
_______ _______
5,000 5,000
Current assets
Cash at bank and in hand - 167
_______ _______
- 167
Creditors: amounts falling due
within one year 6 ( 559,364) ( 573,475)
_______ _______
Net current liabilities ( 559,364) ( 573,308)
_______ _______
Total assets less current liabilities ( 554,364) ( 568,308)
_______ _______
Net liabilities ( 554,364) ( 568,308)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 554,464) ( 568,408)
_______ _______
Shareholders deficit ( 554,364) ( 568,308)
_______ _______
For the year 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 year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 March 2025 , and are signed on behalf of the board by:
Miss A.B. Lindsay
Director
Company registration number: 05703206
Consult LWC Holdings Limited
Notes to the financial statements
Year ended 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 Consult LWC Holdings Ltd, Waller House, 20 New Street, Ledbury, HR8 2DX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
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 - 15 years
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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
4. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2023 and 31 March 2024 656,000 656,000
_______ _______
Amortisation
At 1 April 2023 and 31 March 2024 656,000 656,000
_______ _______
Carrying amount
At 31 March 2024 - -
_______ _______
At 31 March 2023 - -
_______ _______
5. Investments
Shares in group undertakings and participating interests
£
Cost
At 1 April 2023 and 31 March 2024 5,000
_______
Impairment
At 1 April 2023 and 31 March 2024 -
_______
Carrying amount
At 31 March 2024 5,000
_______
At 31 March 2023 5,000
_______
The company holds 100% of the ordinary share capital of Consult LWC Limited, a company whose principal activity is that of the provision of financial services
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 467 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 495,480 509,365
Corporation tax 118 3,636
Other creditors 63,299 60,474
_______ _______
559,364 573,475
_______ _______
7. Related Parties
A.B. Lindsay had a material interest in the company's trading contract with the subsidiary company Consult LWC Limited by virtue of being a director of that business also. During the year ended 31st March 2024 the aggregate value of transactions was Licence fees receivable £15,330 (2023 £17,534).