ACCOUNTS - Final Accounts

WINGHAM WYATT GROUP LTD - Company Information

Registered number: 04650882

WINGHAM WYATT GROUP LTD

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

WINGHAM WYATT GROUP LTD

COMPANY INFORMATION

DIRECTORS	J Kearney
	D J Hesketh
	J S Hepworth


COMPANY SECRETARY	D J Hesketh


REGISTERED NUMBER	04650882


REGISTERED OFFICE	Paradigm House
	Brooke Court
	Wilmslow
	Cheshire
	SK9 3ND

WINGHAM WYATT GROUP LTD

CONTENTS

	Page
Directors' report	1
Income statement	2
Statement of financial position	3
Notes to the financial statements	4 - 6

WINGHAM WYATT GROUP LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2018

The directors present their report and the financial statements for the year ended 31 December 2018.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the 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 directors must not approve the financial statements unless they are 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 financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments 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 financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

DIRECTORS

The directors who served during the year were:

J Kearney

D J Hesketh

J S Hepworth

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 2 August 2019 and signed on its behalf.

D J Hesketh

Director

Page 1

WINGHAM WYATT GROUP LTD

INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2018

The Company has not traded during the year or the preceding financial year. During these periods, the Company received no income and incurred no expenditure and therefore made neither profit or loss.

The notes on pages 4 to 6 form part of these financial statements.

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WINGHAM WYATT GROUP LTD

REGISTERED NUMBER: 04650882

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2018

	2018	2017
Note	£	£

FIXED ASSETS
Investments	3	115,950	115,950
		115,950	115,950

TOTAL ASSETS LESS CURRENT LIABILITIES		115,950	115,950
Creditors: amounts falling due after more than one year	4	(241,824)	(241,824)

NET LIABILITIES		(125,874)	(125,874)

CAPITAL AND RESERVES
Called up share capital	18,000	18,000
Profit and loss account	(143,874)	(143,874)
	(125,874)	(125,874)

For the year ended 31 December 2018 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 were approved and authorised for issue by the board and were signed on its behalf on 2 August 2019.

D J Hesketh

Director

The notes on pages 4 to 6 form part of these financial statements.

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WINGHAM WYATT GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

1.	GENERAL INFORMATION

The entity is a private limited company, limited by shares registered in England and Wales within the United Kingdom. The registered office is Paradigm House, Brooke Court, Wilmslow, Cheshire, SK9 3ND and company number is 04650882.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentation currency of these financial statements is pound sterling; the financial statements
are rounded to the neasrest pound.

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.

2.2

FRS 102 exemptions taken

The company has taken advantage of the exemption allowed under FRS 102 1.12 to not prepare an individual cashflow statement on the grounds that the publicly available consolidated accounts already include one.

2.3

GOING CONCERN

The company depends on the support of the Perspective group. The company participates in the group’s centralised treasury arrangements and so shares banking arrangements with its parent and fellow subsidiaries.
The directors, having assessed the responses of the directors of the company’s parent Perspective Financial Group Limited to their enquiries have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Perspective group to continue as a going concern or its ability to continue with the current banking arrangements.
On the basis of their assessment of the company’s financial position and of the enquiries made of the directors of Perspective Financial Group Limited, the company’s directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Page 4

WINGHAM WYATT GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.ACCOUNTING POLICIES (CONTINUED)

2.4

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Statement of financial position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

3.	FIXED ASSET INVESTMENTS

		Investments in subsidiary companies
		£
	COST OR VALUATION
	At 1 January 2018	115,950
	At 31 December 2018	115,950

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WINGHAM WYATT GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

4.	CREDITORS: Amounts falling due after more than one year
		2018	2017
		£	£

Amounts owed to group undertakings	241,824	241,824
	241,824	241,824

5.	FINANCIAL INSTRUMENTS
		2018	2017
		£	£

	FINANCIAL LIABILITIES
	Financial liabilities measured at amortised cost	(241,824)	(241,824)

Financial liabilities measured at amortised cost comprise group creditors.

6.	CONTINGENT LIABILITIES

The company has entered into a cross guarantee with other group companies such that it will guarantee
the borrowings of those other group companies should they be unable to meet their liabilities. At 31 December 2018 the potential liability was £25,712,005 (2017 - £26,143,866).

7.	RELATED PARTY TRANSACTIONS
	The company has taken advantage of the exemption conferred under FRS 102, as a wholly owned subsidiary, not to disclose balances and transactions with other group companies.

8.	CONTROLLING PARTY

The parent company is PFM Group Limited and the ultimate parent company is Perspective Financial
Group Limited, registered in England and Wales. The results of the company is included in the
consolidated financial statements of Perspective Financial Group Limited.
Copies of the financial statements of both companies may be obtained from Companies House, Cardiff
CF14 3UZ.
The company is under the control of the directors of Perspective Financial Group Limited.

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