ACCOUNTS - Final Accounts preparation

Financial Statements

Widget Investments Limited

For the year ended 31 December 2024

Registered number: 07763065


Widget Investments Limited

Company Information

Directors	Tom Burke
	Frank Joseph Salmon


Registered number	07763065


Registered office	2nd Floor
	15 Worship Street
	London
	EC2A 2DT


Independent auditor	Grant Thornton
	Chartered Accountants & Statutory Audit Firm
	13-18 City Quay
	Dublin 2


Widget Investments Limited

Contents

	Page
Statement of financial position	1
Notes to the financial statements	2 - 5


Widget Investments Limited Registered number:07763065

Statement of financial position

As at 31 December 2024

		2024		2023
Note		£		£

Fixed assets
Investments	4		1,069,391		1,069,391
			1,069,391		1,069,391
Current assets
Debtors: amounts falling due within one year	5	100		100
		100		100
Current liabilities
Creditors: amounts falling due within one year	6	(402,240)		(402,240)
Net assets			667,251		667,251

Capital and reserves
Called up share capital	7	33,818	33,818
Share premium account	8	336,016	336,016
Profit and loss account	8	297,417	297,417
Shareholders' funds		667,251	667,251

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:

Tom Burke

Director

Date: 21 May 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1


Widget Investments Limited

Notes to the financial statements

For the year ended 31 December 2024

1.	General information

Widget Investments Limited ("the Company") is a private company limited by shares registered in the United Kingdom with a registered address at 2nd Floor, 15 worship Street, London, EC2A 2DT.

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 (see note 3).

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.3

Impairment of fixed assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the Statement of comprehensive income.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2


Widget Investments Limited

Notes to the financial statements

For the year ended 31 December 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The judgments, estimates and assumptions used in the financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results could differ from these estimates, and the effect of any change in estimates will be adjusted in the financial statements when they become reasonably determinable.

Judgments, estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under these circumstances.

Estimation uncertainty

Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below. Actual results may be substantially different.

Estimating impairment of investments

The Company assesses impairment on investments whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The factors that the Company considers important which could trigger an impairment review include the following:

∙significant under performance relative to expected historical or projected future operating results;

∙significant changes in the manner of use of the acquired assets or the strategy for overall business; and

∙significant negative industry or economic trends.

In determining the present value of estimated future cash flows expected to be generated from the continued use of the assets, the company is required to make estimates and assumptions that can materially affect the financial statements.

These assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss would be recognised whenever evidence exists that the carrying value is not recoverable. For purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows.

Page 3


Widget Investments Limited

Notes to the financial statements

For the year ended 31 December 2024

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	1,069,391
	At 31 December 2024	1,069,391

Subsidiary undertakings

The following were subsidiary undertakings of the Company:

Name	Registered office	Class of shares	Holding
Widget (UK) Limited	2nd Floor, 16 Worship Street, London, EC2A2DA	Ordinary	100%
CMS Distribution BV	Arlandaweg 92, Unit 7.2, 1043EX, AMSTERDAM	Ordinary	100%

Debtors

					2024	2023
					£	£


Prepayments and accrued income	100	100

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Amounts owed to group undertakings	396,276	396,276
Accruals and deferred income	5,964	5,964
	402,240	402,240

The amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

Page 4


Widget Investments Limited

Notes to the financial statements

For the year ended 31 December 2024

7.	Share capital
		2024	2023
		£	£

Authorised, allotted, called up and paid in full

3,381,800 (2023: 3,381,800) Ordinary shares of £0.01 each	33,818	33,818

Reserves

Share premium account

This includes any premiums received issue of Share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account

This includes all current and prior period retained profits and losses.

9.	Controlling party

The Company's immediate controlling party and parent undertaking is CMS Distribution Ireland Limited, a company registered in the United Kingdom. The ultimate parent company is Storit Limited, a company incorporated in Ireland. The largest and smallest consolidated accounts to include the results of the company are prepared by directors and are publicly available at the companies Registration Office Dublin 1. Storit Limited is the largest group for which group accounts are prepared and Widget Investments Limited is the smallest group in which group accounts are prepared.

The Company's ultimate controlling party is Mr.Frank Salmon, a director and majority shareholder of the ultimate parent company, Storit Limited.

10.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 21 May 2025 by Cathal Kelly (Senior statutory auditor) on behalf of Grant Thornton.

Page 5