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REGISTERED NUMBER: 01581291 (England and Wales)















WHARNCLIFFE BUSINESS SYSTEMS LIMITED

FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024






WHARNCLIFFE BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 01581291)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WHARNCLIFFE BUSINESS SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024







DIRECTOR: C S Maher





REGISTERED OFFICE: Unit A5 Riverview
Heaton Mersey
Stockport
SK4 3GN





REGISTERED NUMBER: 01581291 (England and Wales)





AUDITORS: DJH Audit Limited
Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

WHARNCLIFFE BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 01581291)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2022
(Unaudited)
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 - 59,035
- 59,035

CURRENT ASSETS
Inventories - 19,475
Debtors 6 633,757 984,449
Cash at bank and in hand - 617,341
633,757 1,621,265
CREDITORS
Amounts falling due within one year 7 - (1,035,568 )
NET CURRENT ASSETS 633,757 585,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

633,757

644,732

PROVISIONS FOR LIABILITIES - (10,976 )
NET ASSETS 633,757 633,756

CAPITAL AND RESERVES
Called up share capital 450 450
Share premium 50,150 50,150
Other reserves 15,000 15,000
Retained earnings 568,157 568,156
633,757 633,756

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 March 2025 and were signed by:





C S Maher - Director


WHARNCLIFFE BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 01581291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Wharncliffe Business Systems Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01581291 and its registered office is Unit A5 Riverview, Heaton Mersey, Stockport, England, SK4 3GN.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgements in calculating an appropriate depreciation charge.

Revenue
Revenue represents the aggregate of the fair value of sale of goods and services provided, net of value added tax, rebates and discounts, plus an appropriate proportion of maintenance contract income provided during the period. Revenue is recognised as follows:

Revenue from the sale of goods is recognised when the customer collects the goods or company has delivered and installed products to the customer and collectability of the related receivables is fairly stated.

Service revenue is recognised as those services are provided to customers. Contracted managed service revenue is recognised over the contract period on a pro-rata basis, which represents the level of completion of an individual contract. The unrecognised contracted revenue is included as provision for deferred income in the statement of financial position.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

WHARNCLIFFE BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 01581291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% straight line and 10% straight line

There is no charge for depreciation on the freehold land.

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Inventories
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is the direct cost of goods purchased.

Net realisable value is estimated selling price less costs to complete and sell.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

WHARNCLIFFE BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 01581291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme. Contributions payable for the year are charged in the income statement.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 323,617
Disposals (323,617 )
At 31 March 2024 -
AMORTISATION
At 1 January 2023 323,617
Eliminated on disposal (323,617 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 December 2022 -

WHARNCLIFFE BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 01581291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 413,686
Disposals (413,686 )
At 31 March 2024 -
DEPRECIATION
At 1 January 2023 354,651
Eliminated on disposal (354,651 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 December 2022 59,035

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
(Unaudited)
£    £   
Trade debtors - 654,307
Amounts owed by group undertakings 633,757 250,097
Other debtors - 80,045
633,757 984,449

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
(Unaudited)
£    £   
Trade creditors - 226,253
Taxation and social security - 248,655
Other creditors - 560,660
- 1,035,568

WHARNCLIFFE BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 01581291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2022
(Unaudited)
£    £   
Within one year - 92,143
Between one and five years - 274,303
- 366,446

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Taylor (Senior Statutory Auditor)
for and on behalf of DJH Audit Limited