Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-010falsefalseLeasing properties to sitting tenants1truetrue 11642208 2023-10-01 2024-09-30 11642208 2022-10-01 2023-09-30 11642208 2024-09-30 11642208 2023-09-30 11642208 2022-10-01 11642208 5 2023-10-01 2024-09-30 11642208 5 2022-10-01 2023-09-30 11642208 1 2023-10-01 2024-09-30 11642208 e:Director1 2023-10-01 2024-09-30 11642208 e:Director5 2023-10-01 2024-09-30 11642208 d:FreeholdInvestmentProperty 2023-10-01 2024-09-30 11642208 d:FreeholdInvestmentProperty 2024-09-30 11642208 d:FreeholdInvestmentProperty 2023-09-30 11642208 d:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 11642208 d:CurrentFinancialInstruments 2024-09-30 11642208 d:CurrentFinancialInstruments 2023-09-30 11642208 d:Non-currentFinancialInstruments 2024-09-30 11642208 d:Non-currentFinancialInstruments 2023-09-30 11642208 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 11642208 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 11642208 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 11642208 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 11642208 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 11642208 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 11642208 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 11642208 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 11642208 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-09-30 11642208 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-09-30 11642208 d:ShareCapital 2024-09-30 11642208 d:ShareCapital 2023-09-30 11642208 d:ShareCapital 2022-10-01 11642208 d:RevaluationReserve 2023-10-01 2024-09-30 11642208 d:RevaluationReserve 2024-09-30 11642208 d:RevaluationReserve 5 2023-10-01 2024-09-30 11642208 d:RevaluationReserve 2023-09-30 11642208 d:RevaluationReserve 2022-10-01 11642208 d:RevaluationReserve 5 2022-10-01 2023-09-30 11642208 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 11642208 d:RetainedEarningsAccumulatedLosses 2024-09-30 11642208 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 11642208 d:RetainedEarningsAccumulatedLosses 2023-09-30 11642208 d:RetainedEarningsAccumulatedLosses 2022-10-01 11642208 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 11642208 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 11642208 d:OtherDeferredTax 2024-09-30 11642208 d:OtherDeferredTax 2023-09-30 11642208 e:OrdinaryShareClass1 2023-10-01 2024-09-30 11642208 e:OrdinaryShareClass1 2024-09-30 11642208 e:OrdinaryShareClass1 2023-09-30 11642208 e:FRS102 2023-10-01 2024-09-30 11642208 e:Audited 2023-10-01 2024-09-30 11642208 e:FullAccounts 2023-10-01 2024-09-30 11642208 e:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11642208 e:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 11642208 f:PoundSterling 2023-10-01 2024-09-30 11642208 d:RetainedEarningsAccumulatedLosses 5 2023-10-01 2024-09-30 11642208 d:RetainedEarningsAccumulatedLosses 5 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11642208









WWYC LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
WWYC LIMITED
REGISTERED NUMBER: 11642208

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property

 4 

33,010,000
32,489,344

Current assets
  

Debtors: amounts falling due within one year
 5 
723,401
1,257,080

Cash at bank and in hand
 6 
305,671
116,977

  
1,029,072
1,374,057

Creditors: amounts falling due within one year
 7 
(7,061,342)
(701,728)

Net current (liabilities)/assets
  
 
 
(6,032,270)
 
 
672,329

Total assets less current liabilities
  
26,977,730
33,161,673

Creditors: amounts falling due after more than one year
 8 
(25,313,833)
(31,955,688)

Provisions for liabilities
  

Deferred tax
 10 
(365,187)
(245,786)

Net assets
  
1,298,710
960,199


Capital and reserves
  

Called up share capital 
 11 
1,000
1,000

Revaluation reserve
 12 
433,645
271,286

Profit and loss account
 12 
864,065
687,913

  
1,298,710
960,199


Page 1

 
WWYC LIMITED
REGISTERED NUMBER: 11642208
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 comprehensive income 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: 




B J S H Wing Yip
J A Hendley
Director
Director


Date: 18 June 2025

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

Page 2

 
WWYC LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 October 2022
1,000
-
(1,315,018)
(1,314,018)


Comprehensive income for the year

Profit for the year
-
-
2,274,217
2,274,217

Net surplus on revaluation of investment property
-
271,286
(271,286)
-



At 1 October 2023
1,000
271,286
687,913
960,199


Comprehensive income for the year

Profit for the year
-
-
338,511
338,511

Net surplus on revaluation of investment property
-
216,478
(216,478)
-

Deferred tax movements
-
(54,119)
54,119
-


At 30 September 2024
1,000
433,645
864,065
1,298,710


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

Page 3

 
WWYC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

WWYC Limited is a private limited liability company, limited by shares and is incorporated in England, United Kingdom. The address of the registered office is, 375 Nechells Park Road, Birmingham, B7 5NT and registered number is 11642208.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The presentational currency of these financial statements is Sterling. All amounts have been rounded
to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. Given the net current liabilities position, the Directors have considered relevant information, including forecast future cash flows and the impact of subsequent events in making their assessment. This analysis has considered cashflows expected to arise from future rental income, administrative costs and interest payments and the timing of the capital repayments for loans. The directors have received confirmation, in the form of a letter of support, that fellow group undertakings will provide support as required to enable the Company to make these capital repayments as they fall due.
Market volatility and rising interest rates are the principal risks being faced by WWYC Limited. The Directors consider that these risks are appropriately mitigated by the letter of support referred to above.
Based on these assessments and having regard to resources available to the entity, the Directors have concluded that there is no material uncertainty and that WWYC Limited is expected to be in a position to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these accounts and hence it is appropriate to continue to adopt a going concern basis in preparing the annual report and accounts.

 
2.3

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.
Rental income from operating leases, including incentives granted to lessees, is credited to the Statement of comprehensive income on a straight line basis over the lease term.

Page 4

 
WWYC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to the Statement of Comprehensive Income 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

Page 5

 
WWYC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. 

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to / from group and related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, during the year was 0 (2023 - 1).

Page 6

 
WWYC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Investment property


Investment property

£



Valuation


At 1 October 2023
32,489,344


Additions at cost
304,178


Surplus on revaluation
216,478



At 30 September 2024
33,010,000


Comprising


Cost
32,431,807

Annual revaluation surplus/(deficit):


2022
(1,873,996)

2023
2,235,711

2024
216,478

At 30 September 2024
33,010,000

The Directors have carefully considered the carrying value of investment properties at the balance sheet date and agreed a valuation of £33,010,000. A surplus has been recognised in the Statement of comprehensive income.







5.


Debtors

2024
2023
£
£


Trade debtors
155,393
351,228

Amounts owed by group undertakings
-
75,521

Assets under development
-
231,510

Prepayments and accrued income
568,008
598,821

723,401
1,257,080


Page 7

 
WWYC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
305,671
116,977



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Loans owed to group undertakings
6,328,458
167,275

Trade creditors
46,677
15,803

Amounts owed to group undertakings
479,730
134,568

Corporation tax
33,216
4,376

Other taxation and social security
37,472
31,337

Other creditors
8,497
8,495

Accruals and deferred income
127,292
339,874

7,061,342
701,728


Loans owed to group undertakings are unsecured.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Loans owed to group undertakings
25,313,833
25,852,371

Amounts owed to group undertakings
-
6,103,317

25,313,833
31,955,688


Loans owed to group undertakings are unsecured.

Page 8

 
WWYC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Loans owed to group undertakings

6,328,458
167,275

Amounts falling due 1-2 years

Loans owed to group undertakings

6,328,458
167,275

Amounts falling due 2-5 years

Loans owed to group undertakings

18,985,375
5,329,385

Amounts falling due after more than 5 years

Loans owed to group undertakings
-
20,355,711

31,642,291
26,019,646



10.


Deferred taxation




2024


£






At beginning of year
(245,786)


Charged to statement of comprehensive income
(119,401)



At end of year
(365,187)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(220,639)
(155,357)

Tax on investment property revaluation surplus
(144,548)
(90,429)

(365,187)
(245,786)

Page 9

 
WWYC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



12.


Reserves

Revaluation reserve

The reserve records unrealised surplus on investment properties after deduction of estimated tax liabilities.

Profit and loss account

The profit and loss account includes all current and prior year retained profits and losses.


13.


Post balance sheet events

On 31 December 2024; WWYC Limited sold certain properties to its parent company WWY (Holdings) Limited at market value for consideration of £7.6m.

The disposals have been facilitated by the reduction of the existing loan from WWY (Holdings) Limited to WWYC Limited by the above amounts.


14.


Controlling party

The immediate parent company is WWYC (Holdings) Limited, a company incorporated in England, United Kingdom whose registered office is 375 Nechells Park Road, Nechells, Birmingham, B7 5NT.
The ultimate parent company and controlling party is WWY (Holdings) Limited, a company incorporated in England, United Kingdom whose registered office is 375 Nechells Park Road, Nechells, Birmingham, B7 5NT. The smallest and largest group for which Group financial statements are prepared is WWY (Holdings) Limited. Copies of the Group financial statements are available to the public from Companies House, Cardiff, CF14 3UZ. 


15.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 23 June 2025 by Stephen Newman (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.

 
Page 10