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REGISTERED NUMBER: 07193454 (England and Wales)

















WILFRID LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






WILFRID LIMITED (REGISTERED NUMBER: 07193454)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WILFRID LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: J Walkey
Mrs KM Walkey





REGISTERED OFFICE: Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG





REGISTERED NUMBER: 07193454 (England and Wales)





ACCOUNTANTS: Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

WILFRID LIMITED (REGISTERED NUMBER: 07193454)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 1,005,003 1,005,003

CURRENT ASSETS
Debtors 5 1,537,281 1,437,425
Cash at bank 1,639,528 1,636,010
3,176,809 3,073,435
CREDITORS
Amounts falling due within one year 6 33,263 29,677
NET CURRENT ASSETS 3,143,546 3,043,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,148,549

4,048,761

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 4,147,549 4,047,761
SHAREHOLDERS' FUNDS 4,148,549 4,048,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2025 and were signed on its behalf by:





J Walkey - Director


WILFRID LIMITED (REGISTERED NUMBER: 07193454)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Wilfrid Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Accounting convention
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates

In the preparation of these financial statements, the company's critical accounting judgements and estimates are in respect of the value of the company's subsidiary and the recoverability of the amount due from that company. Details of these judgements and estimates are described in the relevant accounting policy, the notes to the financial statements and below:

- Whether the value of the company's investment in its subsidiary is at least equal to its cost: the directors review this annually by reference to the performance of the subsidiary.
- Whether the amount due from the company's subsidiary is fully recoverable: the directors review this annually by reference to the performance of the subsidiary.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are recognised immediately in profit or loss.

Turnover
Turnover represents management charges from the subsidiary company. This is not a supply for Vat purposes and so the company is not registered for Vat.

WILFRID LIMITED (REGISTERED NUMBER: 07193454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments 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 related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Fixed asset investments
Fixed asset investments are valued as follows:
1) Where investments are acquired for cash, they are valued at the lower of cost and the recoverable amount.
2) Where investments are acquired on a share for share exchange and the transaction results in the company securing ownership of at least 90% of the equity of another company, the investments are valued at the lower of the par value of the shares received and the recoverable amount, which is in accordance with the merger relief provisions of the Companies Act 2006.

Income from shares in group undertakings
Dividends receivable from group undertakings are recognised at the amount receivable in the period in which entitlement arises.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 1,005,003
NET BOOK VALUE
At 31 December 2024 1,005,003
At 31 December 2023 1,005,003

WILFRID LIMITED (REGISTERED NUMBER: 07193454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 237,281 237,425

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,300,000 1,200,000

Aggregate amounts 1,537,281 1,437,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 33,263 29,677

7. RELATED PARTY DISCLOSURES

During the year, the Company:
i) received dividends of £460,000 (2023: £570,000) and management fees of £130,000 (2023: £140,000) from its wholly-owned subsidiary; and
ii) lent £99,856 (2023: repaid £345,227 by) to that company.

At the balance sheet date, the Company was owed £1,537,281 (2023: £1,437,425) by its wholly-owned subsidiary; the loan is unsecured and interest-free. There are no terms as to the repayment of this loan other than the Company has agreed that £1,300,000 is not repayable within twelve months of the balance sheet date.