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Registered number: 03927929









WAVENEY PUBLISHING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
WAVENEY PUBLISHING LIMITED
REGISTERED NUMBER: 03927929

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
                                                                     Note
£
£

  

Current assets
  

Stocks
  
46,889
15,000

Debtors: amounts falling due within one year
 4 
2,281,305
2,210,115

Cash at bank and in hand
 5 
6,315
84,163

  
2,334,509
2,309,278

Creditors: amounts falling due within one year
 6 
(421,945)
(469,824)

Net current assets
  
 
 
1,912,564
 
 
1,839,454

Total assets less current liabilities
  
1,912,564
1,839,454

  

Net assets
  
1,912,564
1,839,454


Capital and reserves
  

Called up share capital 
  
667
667

Capital redemption reserve
  
333
333

Profit and loss account
  
1,911,564
1,838,454

  
1,912,564
1,839,454


Page 1

 
WAVENEY PUBLISHING LIMITED
REGISTERED NUMBER: 03927929
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N P Clarke
Director

Date: 17 April 2025


The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
WAVENEY PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Waveney Publishing Limited ("the company") is a private limited liability company incorporated and domiciled in the United Kingdom. 
The address of its registered office is: 
45-47 Stour Street
Birmingham
West Midlands
B18 7AJ 
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 31 July 2024 (2023: year ended 31 July 2023).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
WAVENEY PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 4

 
WAVENEY PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Debtors

2024
2023
£
£


Trade debtors
146,247
153,695

Amounts owed by group undertakings
2,135,058
2,056,420

2,281,305
2,210,115



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
6,315
84,163

6,315
84,163



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
115,512
119,611

Amounts owed to group undertakings
277,820
326,220

Corporation tax
19,500
9,142

Other taxation and social security
6,565
12,302

Accruals and deferred income
2,548
2,549

421,945
469,824



7.


Controlling party

The controlling party is TEPE Holdings Limited, which holds the entire share capital of the company.
Page 5