Registered number |
Wirral Evolutions Ltd | |
Report and accounts | |
Contents | |
Page | |
Company information | 1 |
Directors' report | 2 |
Chartered Accountants' report | 3 |
Profit and loss account | 4 |
Balance sheet | 5 |
Statement of changes in equity | 6 |
Notes to the accounts | 7 |
Company Information |
Directors |
S Garner - appointed 22 May 2024 |
Registered office |
Wallasey Town Hall |
Brighton Steet |
Wallasey |
Wirral |
CH27 9FQ |
Registered number |
Registered number: | |||||||
Directors' Report | |||||||
The directors present their report and accounts for the year ended |
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Principal activities | |||||||
Directors | |||||||
The following persons served as directors during the year: | |||||||
S Garner - appointed 22 May 2024 | |||||||
Small company provisions | |||||||
This report was approved by the board on |
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S Garner | |||||||
Director | |||||||
Wirral Evolutions Ltd | ||||
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Wirral Evolutions Ltd for the year ended 31 March 2024 | ||||
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wirral Evolutions Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us. | ||||
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance |
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Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF. | ||||
KPH Audit & Assurance Services Ltd | ||||
Chartered Accountants | ||||
255 Poulton Road | ||||
Wallasey | ||||
Wirral | ||||
CH44 4BT | ||||
21 October 2024 | ||||
Profit and Loss Account | ||||||||
for the year ended |
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2024 | 2023 | |||||||
£ | £ | |||||||
Turnover | ||||||||
Cost of sales | ( |
( |
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Gross profit | ||||||||
Administrative expenses | ( |
( |
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Operating profit/(loss) | ( |
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Loss on the disposal of tangible fixed assets | ( |
- | ||||||
Interest receivable | ||||||||
Profit/(loss) before taxation | ( |
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Tax on profit/(loss) | ( |
( |
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Profit/(loss) for the financial year | ( |
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Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | - | |||||
Current assets | |||||||
Debtors | 4 | - | |||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current assets/(liabilities) | ( |
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Net assets/(liabilities) | ( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
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Shareholder's funds | ( |
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S Garner | |||||||
Director | |||||||
Approved by the board on |
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Statement of Changes in Equity | ||||||||||
for the year ended |
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Share | Share | Pensions | Profit | Total | ||||||
capital | premium | reserve | and loss | |||||||
account | ||||||||||
£ | £ | £ | £ | £ | ||||||
At 1 April 2022 | - | ( |
( |
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Loss for the financial year | - | (52,248) | (52,248) | |||||||
Transfer of all assets and liabilities to guarantor | 3,355,000 | 3,355,000 | ||||||||
At 31 March 2023 | 1 | - | - | (27,429) | (27,428) | |||||
At 1 April 2023 | - | - | ( |
( |
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Profit for the financial year | ||||||||||
At 31 March 2024 | - | - | ||||||||
Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of significant changes since last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognized in profit and loss. |
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Depreciation charge motor vehicles - 20% reducing balance | ||||||||
Stocks | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
Going concern | ||||||||
The accounts have been prepared on a breakup basis with the intention to liquidate the company within the next 12 months. Therefore, the Director considers a non-going concern basis represents a true and fair view of the financial statements. |
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Judgements and key sources of estimation uncertainty | ||||||||
In the application of the Company’s accounting policies, the directors are required to make judgment’s, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is reviewed and where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. | ||||||||
Financial instruments | ||||||||
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial transactions. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognized in the Company’s Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognized amounts and there is an intentions to settle on the net basis or to realize the asset and settle the liability simultaneously. |
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Basic financial assets | ||||||||
Basic financial assets, which include trade receivables and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method less any provision for impairment unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company’s cash and trade receivables due with the operating cycle fall into this category of financial instruments. |
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Impairment of financial assets | ||||||||
Financial assets are assessed for the indicators of impairment a each reporting date. Financial assets are impaired when events, subsequent to their initial recognition , indicates the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amounts to exceed the original carrying amount had the impairment not been recognized. The impairment reversal is recognized in the profit or loss. If there is a favourable change in relation to the events surrounding the impairment or loss then they impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognized in the profit or loss. |
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Financial liabilities | ||||||||
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities which include trade and other payables, are initially measured at their transaction price including transaction costs. When this constitutes a financing transaction , whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted and where the effect of discounting is immaterial. Debt instruments are subsequently carried at heir amortised cost using the effective interest rate method. Trade payable are obligations to pay for the goods and services that been acquired in the ordinary course of business form suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not they represent non-current liabilities. Trade payables are initially recognized at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. |
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Related party transactions | ||||||||
The Company is exempt from disclosing transactions with other wholly owned members of the group controlled by the ultimate parent undertaking, as permitted by FRS 102 Section 33. | ||||||||
Ultimate controlling party | ||||||||
The Company is wholly owned subsidiary of Wirral Borough Council. Wirral Borough Council is the ultimate controlling party and is the parent undertaking of the smallest and largest group which consolidates these financial statements for which the company is a member. Copies of financial statements can be obtained from Wirral Borough Council, Canning Street, Birkenhead, Wirral, CH41 1ND. | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Plant and machinery etc | Motor vehicles | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 April 2023 | ||||||||
Disposals | ( |
( |
( |
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At 31 March 2024 | - | - | - | |||||
Depreciation | ||||||||
At 1 April 2023 | ||||||||
On disposals | ( |
( |
( |
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At 31 March 2024 | - | - | - | |||||
Net book value | ||||||||
At 31 March 2024 | - | - | - | |||||
At 31 March 2023 | - | |||||||
4 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | - | |||||||
5 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Trade creditors | - | |||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
6 | Other information | |||||||
Wirral Evolutions Ltd is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Wallasey Town Hall | ||||||||
Brighton Steet | ||||||||
Wallasey | ||||||||
Wirral | ||||||||
CH27 9FQ | ||||||||
7 | Share capital | |||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Allotted, called up and fully paid | ||||||||
1 ordinary share of £1 each | 1 | 1 | ||||||
There is a single class of ordinary share. There are no restrictions on dividend and repayment of capital. |