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Registered number: 05072220 THE WCD GROUP LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
THE WCD GROUP LIMITED COMPANY INFORMATION
Directors | S E Campbell
| M Leek
Registered number | 05072220
Registered office | Fourth Floor Abbots House
| Abbey Street
| Reading
| Berkshire
| RG1 3BD
Independent auditors | BW Audit Ltd
| Chartered Accountants & Statutory Auditors
| Berry & Warren
| 54 Thorpe Road
| Norwich
| NR1 1RY
THE WCD GROUP LIMITED CONTENTS
| Page
Statement of Financial Position | 1
Statement of Changes in Equity | 2
Notes to the Financial Statements | 3 - 8
THE WCD GROUP LIMITED REGISTERED NUMBER: 05072220 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 4 |  | - |  | 3,231,947
|  |  | - |  | 3,231,947
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 2,141,686 |  | 2,141,686 |
|  | 2,141,686 |  | 2,141,686 |
Creditors: amounts falling due within one year | 6 | - |  | (3,231,947) |
Net current assets/(liabilities) |  |  | 2,141,686 |  | (1,090,261)
Total assets less current liabilities |  |  | 2,141,686 |  | 2,141,686
Net assets |  |  | 2,141,686 |  | 2,141,686
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 2,141,685 |  | 2,141,685
|  |  | 2,141,686 |  | 2,141,686
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:
M Leek
Director
Date: 9 April 2026
The notes on pages 3 to 8 form part of these financial statements. Page 1
THE WCD GROUP LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2023 | 2,500 | 4,500 | 1,243,120 | 1,250,120
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 891,566 | 891,566
Shares cancelled during the year | (2,499) | - | - | (2,499)
Share premium cancelled during the year | - | (4,500) | - | (4,500)
Transfer from share capital and share premium | - | - | 6,999 | 6,999
At 1 January 2024 | 1 | - | 2,141,685 | 2,141,686
Profit for the year | - | - | - | -
At 31 December 2024 | 1 | - | 2,141,685 | 2,141,686
| The notes on pages 3 to 8 form part of these financial statements.
Page 2
THE WCD GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
The WCD Group Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is Fourth Floor Abbots House, Abbey Street, Reading, Berkshire, RG1 3BD. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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 following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Going concern
During the prior year the trade and assets of this company were transferred to another company within the group and the directors have taken the decision to liquidate this company. For this reason, the directors do not consider the company to be a going concern. The financial statements have therefore been drawn up to include all assets at the amounts expected to be recoverable and to make provision for all liabilities expected to arise.
| 2.4 | Revenue
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: Revenue from the sale of goods is recognised when the amount can be measured reliably along with the associated costs, future economic benefits are probable and the risks and rewards of ownership have been transferred to the customer. This is on shipment. Revenue from a contract to provide services is recognised in the period in which the services are provided on a straight line basis over the term of the contract. Revenue from operating lease arrangements is recognised on a straight line basis over the term of the lease. Page 3
THE WCD GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Pensions
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.
| 2.6 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. 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.
| 2.7 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.8 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
| 2.9 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence. Page 4
THE WCD GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.10 | Tangible fixed assets
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. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 33% | reducing balance
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | Fixtures and fittings | - | 15% | reducing balance
|  |  |  | Computer equipment | - | 33% | reducing balance
|  |  |  | Rental assets | - | 20% | reducing balance
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 profit or loss.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
THE WCD GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like other debtors and loans from and to related parties.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2023 - 32).
4. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 3,231,947
| Disposals | (3,231,947)
| At 31 December 2024 | -
| Impairment |
| Charge for the period | 3,231,947
| Impairment on disposals | (3,231,947)
| At 31 December 2024 | -
| Net book value |
| At 31 December 2024 | -
| At 31 December 2023 | 3,231,947
Page 6
THE WCD GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 1,986,154 | 1,986,154
| Other debtors | 155,532 | 155,532
|  | 2,141,686 | 2,141,686
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed to group undertakings | - | 3,231,947
|  | - | 3,231,947
7.Other financial commitments A legal charge was created on 28 March 2023 in favour of Morgan Stanley Senior Funding, Inc. via a debenture that creates a fixed and floating charge over the intellectual property.
8. | Related party transactions
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
9. | Controlling party
The immediate parent company is Culligan (UK) Limited, a company incorporated in England and Wales. Culligan (UK) Limited has its registered office at Fourth Floor Abbotts House, Abbey Street, Reading, Berkshire, RG1 3BD. The ultimate parent company and controlling party is BDT Capital Partners. The smallest and largest group to consolidate these financial statements is Osmosis Holdings, LP, a company incorporated in the United States. Copies of Osmosis Holdings, LP consolidated financial statements can be obtained from Culligan International Company, 9399 W.Higgins Road, Suite 1100 Rosemont, IL 60018, USA. Page 7
THE WCD GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
| In their report, the auditors emphasised the following matter without qualifying their report: Emphasis of matter - financial statements prepared on a basis other than going concern We draw attention to note 2.3 in the financial statements, which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern. Our opinion is not modified in respect of this matter.
The audit report was signed on 10 April 2026 by Joanne Fox BA FCA (Senior Statutory Auditor) on behalf of BW Audit Ltd.
Page 8