Company registration number 02185107 (England and Wales)
WIKBORG REIN UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WIKBORG REIN UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WIKBORG REIN UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
24,146
24,146
Cash at bank and in hand
2,898
1,070
27,044
25,216
Creditors: amounts falling due within one year
4
(28,087)
(25,069)
Net current (liabilities)/assets
(1,043)
147
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(1,143)
47
Total equity
(1,043)
147
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 July 2025 and are signed on its behalf by:
Mr C J Grieveson
Director
Company registration number 02185107 (England and Wales)
WIKBORG REIN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Wikborg Rein UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Cannon Street, London, EC4M 6XH.
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 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.
1.2
Turnover
Turnover which excluded Value Added Tax represents the invoices value of services supplied. Turnover is recognised upon the provision of the service.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand.
1.4
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.
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.
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. 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.
WIKBORG REIN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price. 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.
1.5
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.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The company had no employees during either the current or the prior year.
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
1,158
1,158
Other debtors
22,988
22,988
24,146
24,146
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
200
1,200
Amounts owed to group undertakings
24,216
20,356
Taxation and social security
671
513
Other creditors
3,000
3,000
28,087
25,069
WIKBORG REIN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
David Marks FCA
Statutory Auditor:
TC Group
Date of audit report:
17 July 2025
7
Related party transactions
Transactions with related parties
As at the balance sheet date £24,216 (2023: £20,356) was owed to Wikborg Rein & Co Advokatfirma. This balance is interest free and payable on demand, and is shown within creditors.
8
Parent company
The company is wholly owned by Wikborg Rein Services AS, a company incorporated in Norway and controlled by the partners of Wikborg Rein & Co Advokatfirma. The directors consider that the company's ultimate controlling entity is Wikborg Rein & Co Advokatfirma.
The smallest and largest group in which the results of the company are consolidated are headed by Wikborg Rein & Co Advokatfirma.
Copies of the consolidated accounts can be obtained at Postboks 1513, Vika, 0117 Oslo, Norway.