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Registered number: 11679239
3 W EQUITY LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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3 W EQUITY LTD
COMPANY INFORMATION
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G D Taylor (resigned 19 May 2024)
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Chartered Accountants & Statutory Auditor
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3 W EQUITY LTD
CONTENTS
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Independent Auditors' Report
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Statement of Comprehensive Income
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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3 W EQUITY LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Director presents his strategic report for 3W Equity Ltd for the year ended 31 March 2025.
The company provides investment management services.
3W Equity trades as Traditum Equity. It provides investment management services to clients investing in private equity. Its core competitive advantage is the ability to provide a bespoke and tax efficient investment service to clients and flexible funding structures to companies in which investments are made.
The company vision is to establish a long-standing, relationship driven, private investment office offering private equity.
The year 2025 saw the company consolidate its operating systems and compliance functions. Further investment in this area is planned.
Share capital raise in 2024 and 2025 were invested in growing the funds under platform base prior to the company exiting any of the investments made. Attracting new clients and deal flow was the priority.
The year also saw a strategic refresh of the under performing team members, and the attraction of new client facing personnel and brand positioning.
The Director's strategy is to continually invest growth in income from client attraction and deals completed and establish long term client relationships as a Private Equity House providing clients with the opportunity to invest in private equity deals.
The forecasts for 2025 and 2026 show the business performing in line with the Directors expectations and the investment and losses incurred as a consequence to date, bear fruit.
Shareholder value is generated from recuring funds under management fees from deals being completed which provides regular income and the discounted potential of the future capital exits.
Principal risks and uncertainties
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Risk and uncertainties continue to be assessed by the board. The company is exposed to risk from the macro-economic conditions which can affect the attraction of new clients.
The board continue to focus on the target market to mitigate these risks, which is the investing sophisticated entrepreneur and family businesses, and where the company targets the gap in the market for clients and investment companies.
Financial key performance indicators
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Turnover £1,036,056 (2024: £1,596,271) = -35%
EBITDA -£961,593 (2024: -£925,023) = +0.04%
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3 W EQUITY LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Other key performance indicators
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Average headcount: 8
Cumulative Invested Capital March 25 (£21,781k); Jan 24 (£17,565k) = +24%
Cumulative Invested Clients March 25 (41); Jan 24 (28) = +46%
Cumulative Completed Deals March 25 (26); Jan 24 (18) = +44%
This report was approved by the board and signed on its behalf.
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3 W EQUITY LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Director presents their report and the audited financial statements for the year ended 31 March 2025.
Director's responsibilities statement
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The Director is responsible for preparing the Strategic Report, the Director's Report and the audited financial statements in accordance with applicable law and regulations.
Company law requires the Director to prepare audited financial statements for each financial year. Under that law the Director has elected to prepare the audited financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Director must not approve the audited financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these audited financial statements, the Director is required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the audited financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the audited financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The principal activity of 3 W Equity Ltd (the "Company") is that of providing investment management services. The Company is authorised and regulated by the Financial Conduct Authority.
The loss for the year, after taxation, amounted to £962,012 (2024 - loss £928,908).
No dividends were paid during the year.
The Directors who served during the year were:
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G D Taylor (resigned 19 May 2024)
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The company will continue to develop its strategic partnerships and focus on investments in the family business marketplace.
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3 W EQUITY LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Disclosure of information to auditors
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The Director at the time when this Director's Report is approved has confirmed that:
∙so far as is aware, there is no relevant audit information of which the Company's auditors are unaware, and
∙ has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Post balance sheet events
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There have been no significant events affecting the Company since the year end.
Under section 487(2) of the Companies Act 2006, BKL Audit LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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3 W EQUITY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 3 W EQUITY LTD
We have audited the financial statements of 3 W Equity Ltd (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
∙give a true and fair view of the state of the Company's affairs as at 31 March 2025 and of its loss for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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In auditing the financial statements, we have concluded that the Director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Director with respect to going concern are described in the relevant sections of this report.
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3 W EQUITY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 3 W EQUITY LTD (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
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In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Director's remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
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As explained more fully in the Director's Responsibilities Statement set out on page 3, the Director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
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3 W EQUITY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 3 W EQUITY LTD (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
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Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙Enquiring of management around actual and potential litigation and claims
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations
∙Performing audit work over the risks of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias
∙Enquiring of company staff in finance and compliance functions to identify any instances of non-compliance with laws and regulations
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
∙Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
∙Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control.
∙Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Director.
∙Conclude on the appropriateness of the Director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' Report. However, future events or conditions may cause the Company to cease to continue as a going concern.
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3 W EQUITY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 3 W EQUITY LTD (CONTINUED)
∙Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
David Landau FCA (Senior Statutory Auditor)
for and on behalf of
BKL Audit LLP
Chartered Accountants
Statutory Auditor
London
6 August 2025
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3 W EQUITY LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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As restated
14 month period ended
31 March
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Interest receivable and similar income
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Interest payable and similar expenses
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Loss for the financial year
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There was no other comprehensive income for 2025 (2024:£NIL).
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The notes on pages 13 to 25 form part of these financial statements.
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3 W EQUITY LTD
REGISTERED NUMBER: 11679239
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 25 form part of these financial statements.
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3 W EQUITY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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At 1 February 2023 (as previously stated)
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Prior year adjustment - correction of error
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At 1 February 2023 (as restated)
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Comprehensive income for the period
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Total comprehensive income for the period
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At 1 April 2024 (as previously stated)
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Prior year adjustment - correction of error
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At 1 April 2024 (as restated)
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Comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Shares issued during the year
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The notes on pages 13 to 25 form part of these financial statements.
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3 W EQUITY LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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14 month period ended 2024
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Cash flows from operating activities
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Loss for the financial year
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Depreciation of tangible assets
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Decrease/(increase) in debtors
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(Decrease)/increase in creditors
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Net cash generated from operating activities
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Cash flows from investing activities
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Purchase of tangible fixed assets
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Purchase of unlisted and other investments
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Sale of unlisted and other investments
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Net cash from investing activities
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Cash flows from financing activities
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Net cash used in financing activities
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Net (decrease) in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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Cash and cash equivalents at the end of year
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Cash and cash equivalents at the end of year comprise:
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The notes on pages 13 to 25 form part of these financial statements.
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The principal activity of 3 W Equity Ltd (the "Company") is that of providing investment management services. The Company is authorised and regulated by the Financial Conduct Authority.
The Company is a private company limited by shares and is incorporated in England and Wales.
The Registered Office address is One Park Row, Leeds, LS1 5HN.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland ("FRS 102") and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
The directors have reviewed forecasts and budgets in light of the above and are confident the Company has adequate resources to continue in operational existence for the foreseeable future and that it is appropriate to continue to use the going concern basis for the preparation of these financial statements.
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is Sterling.
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.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.
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.
Interest income is recognised in The Statement of Comprehensive Income using the effective interest method.
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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.
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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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:
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 the Statement of Comprehensive Income.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
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, and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty
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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 year end and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
No judgements or material estimation have been used in the process of applying the above accounting
policies.
The whole of the turnover is attributable to investment management services.
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All turnover arose within the United Kingdom.
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The operating loss is stated after charging:
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14 month period ended
31 March
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During the year, the Company obtained the following services from the Company's auditors:
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14 month period ended
31 March
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Fees payable to the Company's auditors for the audit of the Company's financial statements
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Fees payable to the Company's auditors in respect of:
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Audit-related assurance services
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Taxation compliance services
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All non-audit services not included above
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Staff costs, including Director's remuneration, were as follows:
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14 month period ended
31 March
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Cost of defined contribution scheme
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The average monthly number of employees, including the Director, during the year was as follows:
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14 month period ended
31 March
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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14 month period ended
31 March
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Company contributions to defined contribution pension schemes
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During the year retirement benefits were accruing to 1 Director (2024 - 1) in respect of defined contribution pension schemes.
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The highest paid director received remuneration of £60,000 (2024 - £58,338).
The value of the Company's contributions paid to a defined contribution pension scheme in respect of the
highest paid director amounted to £57,198 (2024 - £97,131).
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14 month period ended
31 March
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Other interest receivable
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Interest payable and similar expenses
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14 month period ended
31 March
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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14 month period ended
31 March
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Factors affecting tax charge for the year
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The tax assessed for the year/period is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
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As restated
14 month period ended
31 March
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Loss on ordinary activities before tax
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Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
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Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
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Unrelieved tax losses carried forward
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Total tax charge for the year/period
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Factors that may affect future tax charges
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There are tax losses of approximately £1.5m available to carry forward against future taxable profits.
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Charge for the year on owned assets
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Due after more than one year
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Allotted, called up and fully paid
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2,775,455 (2024 - 1,775,455) Ordinary shares of £1 each
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1 (2024 - 1) Ordinary B share of £1
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The Ordinary and Ordinary B shares rank pari passu in all respects save that the holders of the Ordinary B shares shall have no rights to capital in the event of a sale or winding up.
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On 31 May 2024 the Company issued 1,000,000 Preference shares of £1 each at par. On 14 October 2024 the Company redesignated the Preference shares as Ordinary shares.
Share premium account
Comprises amounts received for shares in excess of their nominal value.
Profit and loss account
Comprises current and previous years retained profits and losses.
The comparative information in these financial statements has been restated from the figures previously reported to reflect a correction for deferred revenue which had not been accounted for in prior years. Revenue relating to services to be provided in future periods was incorrectly recognised in full in the year of invoice, rather than being deferred over the period in which the services were delivered.
As a result, the opening retained earnings as at 1 February 2023 have been reduced by £101,481 and the closing retained earnings as at 31 March 2024 have been reduced by £140,534 to reflect revenue that should have been deferred in the prior year with a corresponding creditor recognised.
The impact of this prior year adjustment was to reduce profit in the year to 31 March 2024 by £39,053 and reduce net assets as at 31 March 2024 by £140,534.
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £194,399 (2024: £220,606). Contributions totalling £120 (2024: £35,087) were payable to the fund at the reporting date.
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3 W EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Transactions with directors
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Included within other debtors due within one year is a loan to a Director amounting to £163,242 (2024 - £268,287). Amounts repaid during the year totalled £163,589. There is no formal agreement detailing the repayment terms or interest arrangement; however, interest has been accrued on the outstanding balance as at year-end at 8%. The loan is repayable on demand, and no security has been provided.
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Related party transactions
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Included within trade debtors is a balance of £90,400 (2024: £37,066) owed by a company with a director in common.
Included within trade debtors is a balance of £82,379 (2024: £72,123) owed by a shareholder with significant control.
Included within trade debtors due after more than one year is a balance of £24,341 (2024: £nil) owed by a shareholder with significant control.
Included within other debtors is a balance of £19,919 (2024: £1) owed by a company with a director in common.
Included within administrative expenses is £nil (2024: £255,300) for consultancy services from a company with a director in common.
Included within administrative expenses is £49,282 (2023: £19,500) for professional services from a close relative of one of the directors.
Included within trade creditors is a balance of £nil (2024: £2,815) owed to a director.
Included within other creditors is a balance of £nil (2024: £138,462) owed to a company with a director in common..
Included within investments is a balance of £103,933 (2024: £99,220) owed by a company with a director in common.
Included within turnover is £100,000 (2024: £nil) for consultation services provided to a sister company under common control.
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There is no ultimate controlling party.
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