Get on the Web Limited 03645124 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is that of the sale of domain names. Digita Accounts Production Advanced 6.30.9574.0 true 03645124 2022-08-01 2023-07-31 03645124 2023-07-31 03645124 core:CurrentFinancialInstruments 2023-07-31 03645124 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 03645124 core:FurnitureFittingsToolsEquipment 2023-07-31 03645124 bus:SmallEntities 2022-08-01 2023-07-31 03645124 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 03645124 bus:FullAccounts 2022-08-01 2023-07-31 03645124 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 03645124 bus:RegisteredOffice 2022-08-01 2023-07-31 03645124 bus:CompanySecretaryDirector2 2022-08-01 2023-07-31 03645124 bus:Director1 2022-08-01 2023-07-31 03645124 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 03645124 core:FurnitureFittings 2022-08-01 2023-07-31 03645124 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 03645124 core:OtherRelatedParties 2022-08-01 2023-07-31 03645124 core:OtherRelatedParties core:RenderingOrReceivingServices 2022-08-01 2023-07-31 03645124 countries:EnglandWales 2022-08-01 2023-07-31 03645124 2022-07-31 03645124 core:FurnitureFittingsToolsEquipment 2022-07-31 03645124 2021-08-01 2022-07-31 03645124 2022-07-31 03645124 core:CurrentFinancialInstruments 2022-07-31 03645124 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 03645124 core:FurnitureFittingsToolsEquipment 2022-07-31 03645124 core:OtherRelatedParties core:RenderingOrReceivingServices 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 03645124

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Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

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Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

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Company Information

Directors

Mr K A Sorrie

Mr P Westley Smith

Company secretary

Mr P Westley Smith

Registered office

Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD

 

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(Registration number: 03645124)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,573

8,138

Current assets

 

Debtors

5

34,621

16,560

Cash at bank and in hand

 

350,231

381,975

 

384,852

398,535

Creditors: Amounts falling due within one year

6

(58,317)

(105,880)

Net current assets

 

326,535

292,655

Total assets less current liabilities

 

339,108

300,793

Provisions for liabilities

(3,144)

(2,037)

Net assets

 

335,964

298,756

Capital and reserves

 

Called up share capital

20

20

Retained earnings

335,944

298,736

Shareholders' funds

 

335,964

298,756

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 September 2023 and signed on its behalf by:
 

Mr K A Sorrie
Director

Mr P Westley Smith
Company secretary and director

 

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Notes to the Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD
England

These financial statements were authorised for issue by the Board on 28 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

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Notes to the Financial Statements for the Year Ended 31 July 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

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Notes to the Financial Statements for the Year Ended 31 July 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

16,220

16,220

Additions

12,511

12,511

Disposals

(9,294)

(9,294)

At 31 July 2023

19,437

19,437

Depreciation

At 1 August 2022

8,082

8,082

Charge for the year

3,423

3,423

Eliminated on disposal

(4,641)

(4,641)

At 31 July 2023

6,864

6,864

Carrying amount

At 31 July 2023

12,573

12,573

At 31 July 2022

8,138

8,138

5

Debtors

2023
£

2022
£

Trade debtors

23,578

-

Other debtors

593

567

Other prepayments

10,450

15,993

Total current trade and other debtors

34,621

16,560

 

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Notes to the Financial Statements for the Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

7

9,700

18,958

Other creditors

 

516

3,846

Corporation tax

 

43,000

58,000

Accrued expenses

 

5,101

25,076

 

58,317

105,880

7

Related party transactions

Summary of transactions with other related parties

Directors
 

Income and receivables from related parties

2023

Other related parties
£

Receipt of services

309,688

2022

Other related parties
£

Receipt of services

319,709