Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false2023-07-24falseAgents involved in the sale of machinery, industrial equipment, ships and aircraft5truetrue 15023773 2023-07-23 15023773 2023-07-24 2024-12-31 15023773 2024-12-31 15023773 2022-07-24 2023-07-23 15023773 c:Director1 2023-07-24 2024-12-31 15023773 d:OfficeEquipment 2023-07-24 2024-12-31 15023773 d:OfficeEquipment 2024-12-31 15023773 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-24 2024-12-31 15023773 d:ComputerEquipment 2023-07-24 2024-12-31 15023773 d:ComputerEquipment 2024-12-31 15023773 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-24 2024-12-31 15023773 d:OwnedOrFreeholdAssets 2023-07-24 2024-12-31 15023773 d:Goodwill 2023-07-24 2024-12-31 15023773 d:Goodwill 2024-12-31 15023773 d:CurrentFinancialInstruments 2024-12-31 15023773 d:Non-currentFinancialInstruments 2024-12-31 15023773 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 15023773 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 15023773 d:ShareCapital 2024-12-31 15023773 d:RetainedEarningsAccumulatedLosses 2024-12-31 15023773 c:OrdinaryShareClass1 2023-07-24 2024-12-31 15023773 c:OrdinaryShareClass1 2024-12-31 15023773 c:FRS102 2023-07-24 2024-12-31 15023773 c:Audited 2023-07-24 2024-12-31 15023773 c:FullAccounts 2023-07-24 2024-12-31 15023773 c:PrivateLimitedCompanyLtd 2023-07-24 2024-12-31 15023773 d:WithinOneYear 2024-12-31 15023773 d:BetweenOneFiveYears 2024-12-31 15023773 c:SmallCompaniesRegimeForAccounts 2023-07-24 2024-12-31 15023773 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-07-24 2024-12-31 15023773 2 2023-07-24 2024-12-31 15023773 d:Goodwill d:OwnedIntangibleAssets 2023-07-24 2024-12-31 15023773 e:PoundSterling 2023-07-24 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 15023773


WFL MILLTURN TECHNOLOGIES UK LIMITED








AUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD 24 JULY 2023 TO 31 DECEMBER 2024

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
REGISTERED NUMBER: 15023773

BALANCE SHEET
AS AT 31 DECEMBER 2024

31 December
2024
Note
£

Fixed assets
  

Intangible assets
 5 
26,043

Tangible assets
 6 
8,695

  
34,738

Current assets
  

Debtors: amounts falling due within one year
 7 
16,652

Cash at bank and in hand
 8 
36,928

  
53,580

Creditors: amounts falling due within one year
 9 
(42,318)

Net current assets
  
 
 
11,262

Total assets less current liabilities
  
46,000

Creditors: amounts falling due after more than one year
 10 
(33,585)

  

Net assets
  
12,415


Capital and reserves
  

Called up share capital 
 11 
100

Profit and loss account
  
12,315

  
12,415


Page 1

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
REGISTERED NUMBER: 15023773
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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: 




Stefan Hackl
Director

Date: 22 April 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

The company is a private limited company which is registered in the UK and limited by share capital.
The company's registered number is 15023773.
The address of its principal place of business is Springfield Street, Market Harborough, Leicestershire, LE16 8BD.

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

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.

 
2.3

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.

 
2.4

Going concern

The  directors  regularly  review  the  Company's liquidity  and  have  prepared  budgets  and forecasts covering    a  period  to  31  December  2025  and  detailed  cash  forecasts  over  a  short-term  period.
These forecasts, together with the availability of support from the immediate parent company, WFL Millturn Technologies GmbH & Co. KG, are such that the directors view is that the Company has sufficient funding to enable them to continue to trade and meet liabilities as  they  fall  due  for  a  period  of  at  least  12  months  from  the  date  of  approval  of  these  financial statements.
The directors therefore consider that it remains appropriate to prepare the financial statements on a
going concern basis.

 
2.5

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.

Page 3

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.7

Revenue

Revenue 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. Revenue 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Services income relates to management charges raised to the immediate parent company for support services provided to the Group.

Page 4

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

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.

 
2.11

Pensions

Defined contribution pension plan

The Company contributes into a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

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.


Page 5

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Page 6

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

4.


Employees

The average monthly number of employees, including directors, during the period was 5.


5.


Intangible assets




Goodwill

£



Cost


Additions
28,937



At 31 December 2024

28,937



Amortisation


Charge for the period on owned assets
2,894



At 31 December 2024

2,894



Net book value



At 31 December 2024
26,043



Page 7

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Tangible fixed assets







Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
6,443
6,600
13,043



At 31 December 2024

6,443
6,600
13,043



Depreciation


Charge for the period on owned assets
2,148
2,200
4,348



At 31 December 2024

2,148
2,200
4,348



Net book value



At 31 December 2024
4,295
4,400
8,695

Page 8

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

7.


Debtors

2024
£


Other debtors
3,539

Prepayments and accrued income
13,113

16,652



8.


Cash and cash equivalents

2024
£

Cash at bank and in hand
36,928

36,928



9.


Creditors: Amounts falling due within one year

2024
£

Amounts owed to group undertakings
8,396

Corporation tax
4,143

Other taxation and social security
10,567

Other creditors
2,012

Accruals and deferred income
17,200

42,318



10.


Creditors: Amounts falling due after more than one year

2024
£

Amounts owed to group undertakings
33,585

33,585


Page 9

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

11.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1 each
100


On incorporation, 100 Ordinary shares of £1.00 each were issued to the ultimate parent company, WFL Millturn Technologies GmbH & Co. KG at par value. 


12.


Pension commitments

The company contributes to a private money purchase scheme on behalf of its employees. The assets of the scheme are held seperately from those of the company in an independently administred fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £39,901. Contributions totalling £2,011 were payable to the fund at the balance sheet date and are included in creditors.


13.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Not later than 1 year
11,000

Later than 1 year and not later than 5 years
24,750

35,750


14.


Related party transactions

In accordance with FRS 102 section 33.1A, the Company has not disclosed transactions entered into with wholly owned company group companies.


15.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.

The audit report was signed on 22 April 2025 by Mr Benjamin Brookes (Senior Statutory Auditor) on behalf of Wellers.

Page 10

 
WFL MILLTURN TECHNOLOGIES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

16.


Controlling party

The immediate controlling party by virtue of their 100% shareholiding is WFL Millturn Technologies GMBH & Co. Kg, a company registered in Austria. The Company's registered address is Wahringerstasse 36, 4030, Linz, Austria.

 
Page 11