WAA Group Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 December 2024
Company Registration No. 06727432 (England and Wales)
WAA Group Limited
Contents
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Statement of changes in equity
5
Notes to the financial statements
6 - 9
WAA Group Limited
Director's Report
For the year ended 31 December 2024
Page 1
The director presents his annual report and financial statements for the year ended 31 December 2024.
Principal activities
The principal activity of the company continued to be that of a holding company.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
A M Wilson
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
A M Wilson
Director
WAA Group Limited
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of WAA Group Limited for the year ended 31 December 2024
Page 2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WAA Group Limited for the year ended 31 December 2024 which comprise the profit and loss account, the balance sheet, the statement of changes in equity 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 WAA Group Limited, as a body, in accordance with the terms of our engagement letter dated 16 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of WAA Group Limited and state those matters that we have agreed to state to the Board of Directors of WAA Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WAA Group Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that WAA Group 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 profit of WAA Group Limited. You consider that WAA Group Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of WAA Group 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.
Moore Kingston Smith LLP
18 July 2025
Chartered Accountants
Charlotte Building
17 Gresse Street
London
W1T 1QL
WAA Group Limited
Profit and Loss Account
For the year ended 31 December 2024
Page 3
2024
2023
£
£
Administrative expenses
(10,000)
Interest receivable and similar income
75,694
104,533
Fair value gains and losses
-
(52,443)
Profit before taxation
65,694
52,090
Tax on profit
Profit for the financial year
65,694
52,090
WAA Group Limited
Balance Sheet
As at 31 December 2024
Page 4
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
806,883
806,883
Current assets
Debtors
5
10,000
Creditors: amounts falling due within one year
6
(384,329)
(460,023)
Net current liabilities
(384,329)
(450,023)
Net assets
422,554
356,860
Capital and reserves
Called up share capital
7
304,716
304,716
Profit and loss reserves
117,838
52,144
Total equity
422,554
356,860
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 16 July 2025
A M Wilson
Director
Company Registration No. 06727432
WAA Group Limited
Statement of Changes in Equity
For the year ended 31 December 2024
Page 5
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
304,716
54
304,770
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
52,090
52,090
Balance at 31 December 2023
304,716
52,144
356,860
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
65,694
65,694
Balance at 31 December 2024
304,716
117,838
422,554
WAA Group Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 6
1
Accounting policies
Company information
WAA Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wrens Court 58 Victoria Road, Sutton Coldfield, West Midlands, B72 1SY.
1.1
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 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.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
WAA Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 7
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
806,883
806,883
WAA Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 8
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2024 are as follows:
Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
Indirect
WAA Chosen Limited
UK
Marketing
Ordinary
100.00
-
Chosen Group Limited
UK
Dormant
Ordinary
100.00
-
Chosen Communications Ltd
UK
Dormant
Ordinary
0
100.00
Registered office addresses (all UK unless otherwise indicated):
Wrens Court, 58 Victoria Road, Sutton Coldfield, West Midlands, B72 1SY
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
WAA Chosen Limited
3,312,330
505,665
Chosen Group Limited
2
Chosen Communications Ltd
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
10,000
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
384,329
460,023
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
304,716
304,716
304,716
304,716
WAA Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 9
8
Events after the reporting date
In March 2025 the agency's ownership structure changed, with the move to an Employee Ownership Trust. This move ensures that WAA Group remains independent and continues to thrive, with the same people, values and creative energy.
9
Related party transactions
The company has taken advantage of the exemption in Section 1A of FRS102 to not disclose transactions with wholly owned subsidiaries.
10
Parent company
The ultimate controlling party is Mr A Wilson.