WDR Limited - Accounts to registrar (filleted) - small 17.3
WDR Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| FOR |
| WDR LIMITED |
| WDR LIMITED (REGISTERED NUMBER: 02625137) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| WDR LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| 44 Springfield Road |
| Horsham |
| West Sussex |
| RH12 2PD |
| WDR LIMITED (REGISTERED NUMBER: 02625137) |
| BALANCE SHEET |
| 30 JUNE 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| WDR LIMITED (REGISTERED NUMBER: 02625137) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 1. | STATUTORY INFORMATION |
| WDR Limited is a |
| number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 30 June 2017 are the first that are prepared in accordance with |
| FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of |
| transition to FRS 102 Section 1A is 1 July 2015. |
| Preparation of consolidated financial statements |
| The financial statements contain information about WDR Limited as an individual company and do not contain |
| consolidated financial information as the parent of a group. The company has taken the option under Section 398 |
| of the Companies Act 2006 not to prepare consolidated financial statements. |
| Related party exemption |
| 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. |
| Turnover |
| Turnover represents the chargeable value, net of Value Added Tax, of services provided to customers during the |
| financial period. Turnover is recognised when the company obtains the right to consideration in exchange for past |
| performance of the services supplied and based upon the best information available at the balance sheet date. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Intangible fixed assets |
| Computer software developed for use by customers are initially capitalised at cost, which includes directly |
| attributable costs of preparing the asset for its intended use. Direct expenditure including employee costs, which |
| enhances or extends the performance of computer software beyond its specification and which can be reliably |
| measured, is added to the original cost of the software. Costs associated with maintaining the computer software |
| are recognised as an expense when incurred. Computer software is subsequently carried at cost less accumulated |
| amortisation and accumulated impairment losses. These costs are amortised to profit or loss using the straight |
| line method over their estimated useful lives. |
| Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life: |
| Software Development | - 20% on Cost |
| E-Learning Development | - 50% on Cost |
| No depreciation was provided in respect of the current year's addition of Software Development as the additional |
| function of the software was not in use. |
| WDR LIMITED (REGISTERED NUMBER: 02625137) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Plant and machinery | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
| that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of |
| the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| The accounts have been prepared under the going concern basis of accounting. The directors of the company |
| have agreed to support the company for the foreseeable future. |
| The directors of Will-Denn Resources Limited have waived the rent charge of £120,000 to WDR Limited for the |
| current and previous year. Will-Denn Resources Limited and WDR Limited have the same directors. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| WDR LIMITED (REGISTERED NUMBER: 02625137) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 4. | INTANGIBLE FIXED ASSETS |
| Computer |
| software |
| £ |
| COST |
| At 1 July 2016 |
| Additions |
| At 30 June 2017 |
| AMORTISATION |
| At 1 July 2016 |
| Amortisation for year |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2016 |
| Additions |
| At 30 June 2017 |
| DEPRECIATION |
| At 1 July 2016 |
| Charge for year |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 July 2016 |
| and 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| WDR LIMITED (REGISTERED NUMBER: 02625137) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| The directors of Will Den Resources Limited, a connected company, have waived the rent charge of £120,000 for |
| the current and previous year. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 12,316 | 11,557 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2016 |
| Provided during year |
| Balance at 30 June 2017 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| WDR LIMITED (REGISTERED NUMBER: 02625137) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 July 2016 |
| Profit for the year |
| At 30 June 2017 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 14. | RELATED PARTY DISCLOSURES |
| Will Denn Resources Ltd |
| J M Dennis is a Director |
| During the year, the company paid Will Denn Resources Ltd £127,474: (2016: £350,480) in respect of service |
| fees, management fees and consultancy fees. The company also recharged BUPA and Insurance expenses of |
| £13,475 (2016: £21,413) to Will Denn Resources Ltd. |
| 2017 | 2016 |
| £ | £ |
| Amount due from/(to) related party at the balance sheet date | 10,622 | (46,400 | ) |
| WDR System Services Ltd |
| J M Dennis is a Director |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party at the balance sheet date | 716 | 716 |
| 15. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |