The WCD Group Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05961387 (England and Wales)

ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE WCD GROUP HOLDINGS LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M Ryall

J C Kent

REGISTERED OFFICE:

Angel House

Shaw Road

Wolverhampton

WV10 9LE

REGISTERED NUMBER:

05961387 (England and Wales)

AUDITOR:

Andorran Limited (Statutory Auditor)

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

FIXED ASSETS

Investments

4

442

442

CURRENT ASSETS

Debtors

475,841

336,091

Cash at bank

500

251,722

476,341

587,813

CREDITORS

Amounts falling due within one year

(146,076

)

(257,548

)

NET CURRENT ASSETS

330,265

330,265

TOTAL ASSETS LESS CURRENT LIABILITIES

330,707

330,707

CAPITAL AND RESERVES

Called up share capital

8,459

8,459

Share premium

56,333

56,333

Retained earnings

265,915

265,915

SHAREHOLDERS' FUNDS

330,707

330,707

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:

M Ryall - Director

1.	STATUTORY INFORMATION

The WCD Group Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties.

The company was dormant throughout the year ended 31 December 2022. However, reference to information relating to the period ended 31 December 2021 has been made where appropriate.

Preparation of consolidated financial statements

The financial statements contain information about The WCD Group Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents rents receivable, which are recognised as income in the periods to which the rent relates.

Tangible fixed assets

Freehold property has not been depreciated as the directors are of the opinion that, as the asset has been kept in a continual state of sound repair, its useful life is so long, and its residual value so high, that depreciation is not significant. Freehold property is revalued annually.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand, and deposits held at call with banks.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2022

and 31 December 2022

442

NET BOOK VALUE

At 31 December 2022

442

At 31 December 2021

442

5.	SECURED DEBTS

After the year-end, 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.

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Roger Downes FCA (Senior Statutory Auditor)

for and on behalf of Andorran Limited (Statutory Auditor)

7.	RELATED PARTY DISCLOSURES

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.

8.	ULTIMATE CONTROLLING PARTY

The immediate parent is Culligan (UK) Limited (previously known as Waterlogic GB Limited until 31 March 2023), a company incorporated in England and Wales. Culligan (UK) Limited has its registered office at Fourth Floor Abbots House, Abbey Street, Reading, Berkshire, United Kingdom, RG1 3BD.

The ultimate parent company and controlling party is BDT Capital Partners. The parent undertaking of the largest and smallest group to consolidate these financial statements is Osmosis Holdings, LP. Copies of Osmosis Holdings, LP accounts can be obtained at Culligan International Company, 9399 W.Higgins Rd, Suite 1100 Rosemont, IL 60018, USA.