Company Registration No. 03827085 (England and Wales)
CWE SOLUTIONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
CWE SOLUTIONS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
CWE SOLUTIONS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Current assets
Trade and other receivables
4
45,183
163,094
Net current assets
45,183
163,094
Provisions for liabilities
5
(45,183)
(45,183)
Net assets
117,911
Equity
Called up share capital
6
225,002
225,002
Retained earnings
(225,002)
(107,091)
Total equity
117,911
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 July 2022 and are signed on its behalf by:
Mr N C Atkins
Director
Company Registration No. 03827085
CWE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
1
Accounting policies
Company information
CWE Solutions Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Diva Innovation Centre, Crompton Way, Crawley, West Sussex, RH10 9QR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company has
true
ceased trading and no longer meet the going concern criteria. Accordingly, the financial statements have been prepared on a basis other than that of a going concern. The
directors
are however seeking to realise the assets and settle the liabilities of the
company
in an orderly fashion and consider that the value of the assets and liabilities, as disclosed within these financial statements, represent the realisable values of each.
1.3
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.
Basic financial assets
Basic financial assets, which include
trade and other receivables
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost
.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. All called up share capital is allotted and fully paid.
1.5
Provisions
Provisions are recognised when the
company
has a legal or constructive present obligation as a result of a past event, it is probable that the
company
will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.
Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i
s
measured at present value
,
the unwinding of the discount is recognised as a finance cost in
profit
or
loss
in the period
in which
it arises.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3
(2020 - 3).
CWE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
3
Other gains and losses
2021
2020
£
£
Amounts written off inter-company loans
(117,911)
-
4
Trade and other receivables
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
117,911
Other receivables
45,183
45,183
45,183
163,094
5
Provisions for liabilities
2021
2020
£
£
Dilapidation provision
45,183
45,183
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
225,002
225,002
225,002
225,002
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
Emphasis of matter financial statements prepared on a basis other than going concern
We draw attention to Note 1.2 to the financial statements which explains that the company had ceased trading during the year ended 31 December 2016
and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 1.2. Our opinion is not modified in this respect of this matter.
The senior statutory auditor was Robert Dowling FCA.
The auditor was Carpenter Box.
Carpenter Box is a trading name of Carpenter Box Limited
CWE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
8
Parent company
The ultimate parent company is Pure Genius Holdings Limited, a company registered in England. The registered office and principal place of business is Diva Innovation Centre, Crompton Way, Crawley, West Sussex, RH10 9QR.
The financial statements of the company are consolidated in the financial statements of
Pure Genius Holdings Limited. Copies of the
consolidated financial statements are available from
Companies House.