ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-28false2021-03-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12452106 2021-03-01 2022-02-28 12452106 2020-02-10 2021-02-28 12452106 2022-02-28 12452106 2021-02-28 12452106 c:Director2 2021-03-01 2022-02-28 12452106 d:CurrentFinancialInstruments 2022-02-28 12452106 d:CurrentFinancialInstruments 2021-02-28 12452106 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 12452106 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 12452106 d:ShareCapital 2022-02-28 12452106 d:ShareCapital 2021-02-28 12452106 d:RetainedEarningsAccumulatedLosses 2022-02-28 12452106 d:RetainedEarningsAccumulatedLosses 2021-02-28 12452106 c:OrdinaryShareClass1 2021-03-01 2022-02-28 12452106 c:OrdinaryShareClass1 2022-02-28 12452106 c:OrdinaryShareClass1 2021-02-28 12452106 c:OrdinaryShareClass2 2021-03-01 2022-02-28 12452106 c:OrdinaryShareClass2 2022-02-28 12452106 c:OrdinaryShareClass2 2021-02-28 12452106 c:FRS102 2021-03-01 2022-02-28 12452106 c:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 12452106 c:FullAccounts 2021-03-01 2022-02-28 12452106 c:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 12452106 d:WithinOneYear 2022-02-28 12452106 d:WithinOneYear 2021-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12452106

WR YORK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

REGISTERED NUMBER:12452106

WR YORK LIMITED

BALANCE SHEET

AS AT 28 FEBRUARY 2022

		2022		2021
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	18,403		12,276
Cash at bank and in hand		10,907		1,206
		29,310		13,482
Creditors: amounts falling due within one year	5	(165,278)		(102,536)
Net current liabilities			(135,968)		(89,054)
Total assets less current liabilities			(135,968)		(89,054)

Net liabilities			(135,968)		(89,054)

Capital and reserves
Called up share capital	6	2	2
Profit and loss account		(135,970)	(89,056)
		(135,968)	(89,054)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 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 profit and loss account 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 on 28 November 2022.

L Simon

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

WR YORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

1.	General information

WR York Limited is a private company limited by shares incorporated in England and Wales. Its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts are rounded to the nearest whole number.

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 following principal accounting policies have been applied:

2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3

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:

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.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 2

WR YORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Debtors

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

2.7

Cash and cash equivalents

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.

2.8

Creditors

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

2.9

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

The Company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Page 3

WR YORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4

WR YORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Debtors

					2022	2021
					£	£


Other debtors	10,654	6,276
Prepayments and accrued income	7,749	6,000
	18,403	12,276

Other loans	137,390	89,500
Trade creditors	15,656	8,825
Other taxation and social security	1,914	-
Other creditors	2,917	2,711
Accruals and deferred income	7,401	1,500
	165,278	102,536

6.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

1 (2021 - 1) A share of £1.00	1	1
1 (2021 - 1) B share of £1.00	1	1

	2	2

Page 5

WR YORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

	Not later than 1 year	7,500	18,000
		7,500	18,000

Related party transactions

At the year end, included within other creditors is an amount of £137,390 (2021: £89,500) due to a company in which one of the directors has a beneficial interest. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding the repayment of the loan.
At the year end, included within other debtors ia an amount of £7,000 (2021: £Nil) due to one of the directors. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding the repayment of the loan.

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