Company Registration No. 06997385 (England and Wales)
WOLF INVESTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
WOLF INVESTORS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
WOLF INVESTORS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
CZK
CZK
CZK
CZK
Fixed assets
Tangible assets
3
56,871
69,842
Investments
4
4,664
4,664
61,535
74,506
Current assets
Stocks
-
120,329
Debtors
6
66,944,716
63,187,099
Cash at bank and in hand
75,061,170
75,052,613
142,005,886
138,360,041
Creditors: amounts falling due within one year
7
(108,981,354)
(118,206,372)
Net current assets
33,024,532
20,153,669
Total assets less current liabilities
33,086,067
20,228,175
Creditors: amounts falling due after more than one year
(12,723,298)
(1,465,298)
Net assets
20,362,769
18,762,877
Capital and reserves
Called up share capital
8
296,420
296,420
Profit and loss reserves
20,066,349
18,466,457
Total equity
20,362,769
18,762,877
WOLF INVESTORS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2018
31 December 2018
- 2 -
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 (S.I. 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial Period ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 Period 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 and signed by the director and authorised for issue on 31 December 2019
Jan Kruta
Director
Company Registration No. 06997385
WOLF INVESTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2018
- 3 -
1
Accounting policies
Company information
Wolf Investors Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
4 Princes Street, Mayfair, London.
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
Czek
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest CZK.
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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
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:
Plant and machinery
20%
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
.
1.4
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.
WOLF INVESTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
1.6
Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1.7
Taxation
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.
Deferred tax
1.8
Employee benefits
These financial statements for the Period ended 31 December 2018
are the
first
financial statements of Wolf Investors Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2017. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
WOLF INVESTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 5 -
1.9
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 are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was 5 (2017 - 5).
3
Tangible fixed assets
Total
CZK
Cost
At 1 January 2018 and 31 December 2018
763,932
Depreciation and impairment
At 1 January 2018
694,090
Depreciation charged in the Period
12,971
At 31 December 2018
707,061
Carrying amount
At 31 December 2018
56,871
At 31 December 2017
69,842
4
Fixed asset investments
2018
2017
CZK
CZK
Investments
4,664
4,664
Movements in fixed asset investments
Shares in group undertakings
CZK
Cost or valuation
At 1 January 2018 & 31 December 2018
4,664
Carrying amount
At 31 December 2018
4,664
At 31 December 2017
4,664
WOLF INVESTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
- 6 -
5
Subsidiaries
Details of the company's subsidiaries at 31 December 2018 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
GWO Construction Limited
Ireland
Services to construction Industry
Ordinary shares
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
CZK
CZK
GWO Construction Limited
(7,645,975)
(28,061,536)
The recent financial statements for Plynostav Arabian Limited are not available for disclosure.
6
Debtors
2018
2017
Amounts falling due within one year:
CZK
CZK
Trade debtors
-
1
Other debtors
66,944,716
63,187,098
66,944,716
63,187,099
7
Creditors: amounts falling due within one year
2018
2017
CZK
CZK
Trade creditors
20,099,303
20,099,303
Corporation tax
1,028,227
-
Other taxation and social security
2,773,325
3,619,709
Other creditors
84,997,674
94,487,360
Accruals and deferred income
82,825
-
108,981,354
118,206,372
8
Called up share capital
2018
2017
CZK
CZK
Ordinary share capital
Issued and fully paid
10 Ordinary shares of Czech Krona29642 each
296,420
296,420
WOLF INVESTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
8
Called up share capital
(Continued)
- 7 -
9
Related party transactions
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.
10
Parent company
The ultimate controlling party iis Ms Alena Krutova.