Company No: 09247819 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Unaudited Financial Statements

DIRECTORS	A Wenn
	D Wenn
REGISTERED OFFICE	St Georges Court
	St Georges Road
	Bristol
	BS1 5UG
	United Kingdom
COMPANY NUMBER	09247819(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	10 Temple Back
	Bristol
	BS1 6FL

		2020		2019
	Note	£		£
Fixed assets
Investments	3	600,994		600,994
		600,994		600,994
Current assets
Debtors		0		0
Cash at bank and in hand		1,652		674
		1,652		674
Creditors
Amounts falling due within one year	4	( 424,941)		( 457,220)
Net current liabilities		(423,289)		(456,546)
Total assets less current liabilities		177,705		144,448
Creditors
Amounts falling due after more than one year	5	( 31,800)		0
Net assets		145,905		144,448
Capital and reserves
Called-up share capital	6	20,000		20,000
Profit and loss account		125,905		124,448
Total shareholders' funds		145,905		144,448

For the financial year ending 31 December 2020 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 financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Wenn Shed Holdings Limited (registered number: 09247819) were approved and authorised for issue by the Board of Directors on 28 September 2021. They were signed on its behalf by:

A Wenn Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Wenn Shed Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is St Georges Court, St Georges Road, Bristol, BS1 5UG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Wenn Shed Holdings Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Directors’ Report.

The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the company should be able to operate within the level of its current facilities.

Therefore, the directors have a reasonable expectation that the Company has adequate resources 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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2020		2019
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Fixed asset investments

Investments in subsidiaries

	2020
	£
Cost
At 01 January 2020	600,994
At 31 December 2020	600,994
Carrying value at 31 December 2020	600,994
Carrying value at 31 December 2019	600,994

4. Creditors: amounts falling due within one year

	2020		2019
	£		£
Bank loans and overdrafts	4,200		0
Trade creditors	0		1,821
Amounts owed to Group undertakings	396,949		445,683
Amounts owed to directors	1,739		1,207
Accruals	1,250		2,000
Corporation tax	6,008		6,509
Other taxation and social security	14,795		0
	424,941		457,220

Bank loans and overdrafts are secured by way of a fixed and floating charge over all assets.

5. Creditors: amounts falling due after more than one year

	2020		2019
	£		£
Bank loans	31,800		0

Bank loans are secured by way of a fixed and floating charge over all assets.

6. Called-up share capital

	2020		2019
	£		£
Allotted, called-up and fully-paid
20,000 Ordinary shares of £ 1.00 each	20,000		20,000

7. Related party transactions

At the year end £1,739 (2019: £1,207) was owed to the directors of the company. The loan is interest free and has no fixed date for repayment.

Dividends totalling £189,606 (2019: £60,000) were paid to the director during the year.

At the year end £393,740 (2019: £445,583) was owed to subsidiary companies. The loan is interest free and has no fixed date for repayment.