IW Topco Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 11159943

IW TOPCO LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2019

IW TOPCO LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2019

	31 Mar 19
Note	£	£

FIXED ASSETS

Investments	4		3

CURRENT ASSETS

Debtors	5	5,092
Cash at bank and in hand		1,549,724
		------------
		1,554,816

CREDITORS: amounts falling due within one year	6	1,478,350
		------------
NET CURRENT ASSETS			76,466
			--------
TOTAL ASSETS LESS CURRENT LIABILITIES			76,469
			--------
NET ASSETS			76,469
			--------

CAPITAL AND RESERVES

Called up share capital	7	100
Profit and loss account	8	76,369
		--------
SHAREHOLDERS FUNDS		76,469
		--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

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

IW TOPCO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 11 October 2019 , and are signed on behalf of the board by:

Mr B O'Grady

Director

Company registration number: 11159943

IW TOPCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 19 JANUARY 2018 TO 31 MARCH 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Clarence Place, Ashby de la Zouch, Leicestershire, LE65 1FR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost .

4. Investments

	Shares in group undertakings
	£
Cost
At 19 January 2018	–
Additions	3
	----
At 31 March 2019	3
	----
Impairment
At 19 January 2018 and 31 March 2019	–
	----

Carrying amount
At 31 March 2019	3
	----

The company owns the entire issued share capital of IW Midco Limited, a company registered in Jersey and IW GP Limited, a company registered in England.

5. Debtors

	31 Mar 19
	£
Amounts owed by group undertakings	5,092
	-------

6. Creditors: amounts falling due within one year

	31 Mar 19
	£
Amounts owed to group undertakings	1,459,405
Accruals and deferred income	600
Corporation tax	17,937
Director loan accounts	208
Other creditors	200
	------------
	1,478,350
	------------

7. Called up share capital

Issued, called up and fully paid

	31 Mar 19
	No.	£
Ordinary shares of £ 1 each	100	100
	----	----

On incorporation, 2 ordinary shares were issued at par value. On 23 March 2019, 98 further shares were issued as a bonus issue.

8. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

9. Related party transactions

During the year, the company received a loan of £1,399,979 from one of its subsidiary companies, IW (London Road) Limited. This loan is interest free and repayable on demand. No repayments were made during the year .