Company Registration No. 05730996 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
CONTENTS
Page
Company Information
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 8
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
COMPANY INFORMATION
- 1 -
Directors
Dr N C Fox
Mrs B I M Fox
Secretary
Mrs B I M Fox
Company Number
05730996
Registered Office
Penllynin Farm
College Road
Carmarthen
Carmarthenshire
SA33 5EH
Accountants
Clay Shaw Butler
Chartered Accountants
24 Lammas Street
Carmarthen
Carmarthenshire
SA31 3AL
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed Assets
Tangible assets
4
1,962,843
2,008,769
Investments
5
100
100
1,962,943
2,008,869
Current assets
Stocks
443
292
Debtors
4,790,400
4,464,656
Investments
968,022
1,541,544
Cash at bank and in hand
124,879
221,889
5,883,744
6,228,381
Creditors: Amounts Falling Due Within One Year
(403,536)
(402,772)
Net current assets
5,480,208
5,825,609
Total assets less current liabilities
7,443,151
7,834,478
Creditors: Amounts Falling Due After More Than One Year
6
(444,055)
(465,848)
Provisions for liabilities
(150,708)
(140,713)
Net assets
6,848,388
7,227,917
Capital and Reserves
Called up share capital
200
200
Revaluation reserve
7
348,298
267,466
Retained earnings
6,499,890
6,960,251
Total equity
6,848,388
7,227,917
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 3 -
In accordance with section 444 of the Companies Act 2006, all
of
the members of the company have consented to the
preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
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 14 June 2022 and are signed on its behalf by:
Dr N C Fox
Mrs B I M Fox
Director
Director
Company Registration No. 05730996
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
1
Accounting policies
Company information
International Wildlife Consultants (UK) is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Penllynin Farm, College Road, Carmarthen, Carmarthenshire, SA33 5EH.
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 £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of
a business in 2007
over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.4
Tangible Fixed Assets
Tangible Fixed Assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
Improvements to property
2% on cost and No depreciation
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
25% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed Asset Investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.6
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.11
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
12
13
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
3
Intangible fixed assets
Total
£
Cost
At 1 January 2021 and 31 December 2021
102,586
Amortisation and impairment
At 1 January 2021 and 31 December 2021
102,586
Carrying amount
At 31 December 2021
At 31 December 2020
4
Tangible Fixed Assets
Total
£
Cost
At 1 January 2021
2,335,613
Additions
9,883
Disposals
(7,995)
At 31 December 2021
2,337,501
Depreciation and impairment
At 1 January 2021
326,844
Depreciation charged in the year
55,359
Eliminated in respect of disposals
(7,545)
At 31 December 2021
374,658
Carrying amount
At 31 December 2021
1,962,843
At 31 December 2020
2,008,769
5
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
100
100
6
Creditors: Amounts Falling Due After More Than One Year
The long-term loans are secured by fixed charges over the assets of the company.
INTERNATIONAL WILDLIFE CONSULTANTS (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
6
Creditors: Amounts Falling Due After More Than One Year
(Continued)
- 8 -
Creditors which fall due after five years are as follows:
2021
2020
£
£
Payable by instalments
(356,630)
(380,476)
7
Revaluation reserve
2021
2020
£
£
At the beginning of the year
267,466
382,865
Other movements
80,832
(115,399)
At the end of the year
348,298
267,466
8
Related party transactions
Mickelbo Limited is a subsidiary of the company and is therefore a related party.
During the year interest free loans of £259,794 (2020 - £36,781) were repaid to the company.
At the balance sheet date, the company was owed £3447,045 (2020 - £3,706,838) by Mickelbo Limited.
Wingbeat Limited is a related party by virtue of the same ultimate controlling party.
During the year the company made interest free loans to Wingbeat Limited of £3,568 (2020 - £16,976).
At the balance sheet date, the company was owed £3,568 (2020 - £1,131,816) by Wingbeat Limited.
It was considered that the loans were irrecoverable and these were written off at the year end.