Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3132024-01-01falseNo description of principal activityfalse4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11679973 2024-01-01 2024-12-31 11679973 2022-12-01 2023-12-31 11679973 2024-12-31 11679973 2023-12-31 11679973 c:Director1 2024-01-01 2024-12-31 11679973 d:OfficeEquipment 2024-01-01 2024-12-31 11679973 d:OfficeEquipment 2024-12-31 11679973 d:OfficeEquipment 2023-12-31 11679973 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11679973 d:CurrentFinancialInstruments 2024-12-31 11679973 d:CurrentFinancialInstruments 2023-12-31 11679973 d:Non-currentFinancialInstruments 2024-12-31 11679973 d:Non-currentFinancialInstruments 2023-12-31 11679973 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 11679973 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11679973 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 11679973 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11679973 d:ShareCapital 2024-12-31 11679973 d:ShareCapital 2023-12-31 11679973 d:SharePremium 2024-12-31 11679973 d:SharePremium 2023-12-31 11679973 d:RetainedEarningsAccumulatedLosses 2024-12-31 11679973 d:RetainedEarningsAccumulatedLosses 2023-12-31 11679973 c:FRS102 2024-01-01 2024-12-31 11679973 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11679973 c:FullAccounts 2024-01-01 2024-12-31 11679973 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11679973 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-01-01 2024-12-31 11679973 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-12-31 11679973 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 11679973 2 2024-01-01 2024-12-31 11679973 6 2024-01-01 2024-12-31 11679973 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 11679973










WESTERLY WINDS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
WESTERLY WINDS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WESTERLY WINDS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westerly Winds Limited for the year ended 31 December 2024 which comprise  the Balance sheet 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 (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Westerly Winds Limited, as a body, in accordance with the terms of our engagement letter dated 13 March 2023Our work has been undertaken solely to prepare for your approval the financial statements of Westerly Winds Limited and state those matters that we have agreed to state to the Board of directors of Westerly Winds Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westerly Winds Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Westerly Winds Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Westerly Winds Limited. You consider that Westerly Winds Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Westerly Winds Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
25 April 2025
Page 1

 
WESTERLY WINDS LIMITED
REGISTERED NUMBER: 11679973

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,322
2,779

Investments
 5 
271,735
271,735

  
273,057
274,514

Current assets
  

Debtors: amounts falling due within one year
 6 
10,336
20,440

Cash at bank and in hand
  
14,628
11,349

  
24,964
31,789

Creditors: amounts falling due within one year
 7 
(36,899)
(134,084)

Net current liabilities
  
 
 
(11,935)
 
 
(102,295)

Total assets less current liabilities
  
261,122
172,219

Creditors: amounts falling due after more than one year
  
(133,448)
-

  

Net assets
  
127,674
172,219


Capital and reserves
  

Called up share capital 
  
220
220

Share premium account
  
626,027
626,027

Profit and loss account
  
(498,573)
(454,028)

  
127,674
172,219


Page 2

 
WESTERLY WINDS LIMITED
REGISTERED NUMBER: 11679973
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 profit and loss account 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 on 25 April 2025.




K A G Plaza
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
WESTERLY WINDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Westerly Winds Limited is a United Kingdom company limited by shares. It is incorporated and domiciled in England and Wales. The registered office address is 71-75 Shelton Street, London, WC2H 9JQ.
The Company's principal activity is the provision of consultancy services worldwide.

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

Going concern

The directors have given an undertaking to provide financial support to the Company, where required, for the foreseeable future and having considered the forthcoming cash flow requirements and consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

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.

Page 4

 
WESTERLY WINDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Pensions

Defined contribution pension plan

The Company operates 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.

 
2.8

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

 
WESTERLY WINDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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%
straight line

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.

 
2.10

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial
Page 6

 
WESTERLY WINDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

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 recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised 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.

Other financial instruments
Page 7

 
WESTERLY WINDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).

Page 8

 
WESTERLY WINDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2024
5,779



At 31 December 2024

5,779



Depreciation


At 1 January 2024
3,000


Charge for the year on owned assets
1,457



At 31 December 2024

4,457



Net book value



At 31 December 2024
1,322



At 31 December 2023
2,779


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2024
271,735



At 31 December 2024
271,735




Page 9

 
WESTERLY WINDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
1,750

Amounts owed by group undertakings
-
1,907

Other debtors
6,506
12,953

Prepayments and accrued income
3,830
3,830

10,336
20,440



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
-
99,980

Other taxation and social security
29,322
23,176

Other creditors
3,575
3,788

Accruals and deferred income
4,002
7,140

36,899
134,084



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
133,448
-

133,448
-



9.


Related party transactions

As at 31 December 2024 the balance owed to one of the directors was £1,113 (2023: £1,201).

 
Page 10