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Registration number: 02625137

WDR Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

WDR Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

WDR Limited

Company Information

Directors

CJ Dennis

JM Dennis

Company secretary

JM Dennis

Registered office

Park Lodge
60 London Road
Horsham
West Sussex
RH12 1AY

Accountants

Carter Nicholls Ltd Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

 

WDR Limited

(Registration number: 02625137)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

401,495

449,315

Tangible assets

5

1,650,618

1,643,265

Investments

6

10,000

10,051

 

2,062,113

2,102,631

Current assets

 

Debtors

7

32,851

222,006

Cash at bank and in hand

 

37,837

10,591

 

70,688

232,597

Creditors: Amounts falling due within one year

8

(247,849)

(275,604)

Net current liabilities

 

(177,161)

(43,007)

Total assets less current liabilities

 

1,884,952

2,059,624

Creditors: Amounts falling due after more than one year

8

(17,500)

(47,500)

Net assets

 

1,867,452

2,012,124

Capital and reserves

 

Called up share capital

9

100

100

Revaluation reserve

1,240,131

1,240,131

Retained earnings

627,221

771,893

Shareholders' funds

 

1,867,452

2,012,124

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 March 2025 and signed on its behalf by:
 

 

WDR Limited

(Registration number: 02625137)
Balance Sheet as at 31 December 2024

.........................................
CJ Dennis
Director

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Park Lodge
60 London Road
Horsham
West Sussex
RH12 1AY
United Kingdom

These financial statements were authorised for issue by the Board on 18 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

20% reducing balance

Office equipment

20% reducing balance

Computer equipment

33% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software

10% straight line

Digital learning

50% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 15).

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Software development
 £

Total
£

Cost or valuation

At 1 January 2024

1,625,761

1,625,761

Additions acquired separately

41,280

41,280

At 31 December 2024

1,667,041

1,667,041

Amortisation

At 1 January 2024

1,176,446

1,176,446

Amortisation charge

89,100

89,100

At 31 December 2024

1,265,546

1,265,546

Carrying amount

At 31 December 2024

401,495

401,495

At 31 December 2023

449,315

449,315

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

1,623,083

166,425

135,551

1,925,059

Additions

-

3,814

11,253

15,067

At 31 December 2024

1,623,083

170,239

146,804

1,940,126

Depreciation

At 1 January 2024

-

151,138

130,656

281,794

Charge for the year

-

3,693

4,021

7,714

At 31 December 2024

-

154,831

134,677

289,508

Carrying amount

At 31 December 2024

1,623,083

15,408

12,127

1,650,618

At 31 December 2023

1,623,083

15,287

4,895

1,643,265

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Included within the net book value of land and buildings above is £1,623,083 (2023 - £1,623,083) in respect of freehold land and buildings.
 

6

Investments

2024
£

2023
£

Investments in subsidiaries

10,000

10,051

Subsidiaries

£

Cost or valuation

At 1 January 2024

10,051

Disposals

(51)

At 31 December 2024

10,000

Provision

Carrying amount

At 31 December 2024

10,000

At 31 December 2023

10,051

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Will-Denn Resources Limited

Park Lodge, 60 London Road,
Horsham, RH12 1AY

Ordinary

100%

100%

Subsidiary undertakings

Will-Denn Resources Limited

The principal activity of Will-Denn Resources Limited is that of a dormant company.

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

26,127

115,196

Amounts owed by related parties

-

92,846

Prepayments

 

6,724

7,464

Other debtors

 

-

6,500

   

32,851

222,006

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

30,000

30,000

Trade creditors

 

25,564

43,632

Amounts owed to group undertakings and undertakings in which the company has a participating interest

61,852

57,000

Taxation and social security

 

32,823

56,643

Accruals and deferred income

 

82,085

79,737

Other creditors

 

15,525

8,592

 

247,849

275,604

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

17,500

47,500

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

1,240,131

1,240,131

 

WDR Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

17,500

47,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

30,000

30,000