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Company No: 12103948 (England and Wales)

WALDO HEAVY INDUSTRIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

WALDO HEAVY INDUSTRIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

WALDO HEAVY INDUSTRIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
WALDO HEAVY INDUSTRIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTOR Mr. W. Wilkinson
REGISTERED OFFICE Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
RG9 2LT
United Kingdom
COMPANY NUMBER 12103948 (England and Wales)
ACCOUNTANT Verallo
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
WALDO HEAVY INDUSTRIES LIMITED

BALANCE SHEET

As at 31 August 2024
WALDO HEAVY INDUSTRIES LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 761,298 761,298
761,298 761,298
Creditors: amounts falling due within one year 4 ( 555,425) ( 553,330)
Net current liabilities (555,425) (553,330)
Total assets less current liabilities 205,873 207,968
Net assets 205,873 207,968
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account 205,872 207,967
Total shareholder's funds 205,873 207,968

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Waldo Heavy Industries Limited (registered number: 12103948) were approved and authorised for issue by the Director on 04 March 2025. They were signed on its behalf by:

Mr. W. Wilkinson
Director
WALDO HEAVY INDUSTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
WALDO HEAVY INDUSTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Waldo Heavy Industries Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Wargrave Road, Henley-on-Thames, Oxfordshire, RG9 2LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the balance sheet date the company's net current liabilities exceeded its net current assets. The day to day operation of the company is dependent upon support from its director and lenders. On the assumption that such support will continue to be forthcoming, the director considers it appropriate to prepare the financial statements on a going concern basis.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 761,298 761,298

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to own subsidiaries 553,605 551,590
Accruals 1,820 1,740
555,425 553,330

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each 1 1