1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,280 2,163 117 2,280 117 xbrli:pure xbrli:shares iso4217:GBP 10590321 2022-02-01 2023-01-31 10590321 2023-01-31 10590321 2022-01-31 10590321 2021-02-01 2022-01-31 10590321 2022-01-31 10590321 2021-01-31 10590321 bus:Director1 2022-02-01 2023-01-31 10590321 core:WithinOneYear 2023-01-31 10590321 core:WithinOneYear 2022-01-31 10590321 core:ShareCapital 2023-01-31 10590321 core:ShareCapital 2022-01-31 10590321 core:RetainedEarningsAccumulatedLosses 2023-01-31 10590321 core:RetainedEarningsAccumulatedLosses 2022-01-31 10590321 bus:SmallEntities 2022-02-01 2023-01-31 10590321 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 10590321 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 10590321 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 10590321 bus:FullAccounts 2022-02-01 2023-01-31 10590321 core:OfficeEquipment 2022-02-01 2023-01-31 10590321 core:OfficeEquipment 2023-01-31 10590321 core:OfficeEquipment 2022-01-31
COMPANY REGISTRATION NUMBER: 10590321
JW Digital Solutions Limited
Filleted Unaudited Financial Statements
31 January 2023
JW Digital Solutions Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
117
Current assets
Debtors
6
141
2,803
Cash at bank and in hand
2,253
3,494
-------
-------
2,394
6,297
Creditors: amounts falling due within one year
7
16,842
11,254
--------
--------
Net current liabilities
14,448
4,957
--------
-------
Total assets less current liabilities
( 14,448)
( 4,840)
--------
-------
Net liabilities
( 14,448)
( 4,840)
--------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 14,548)
( 4,940)
--------
-------
Shareholders deficit
( 14,448)
( 4,840)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JW Digital Solutions Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 25 October 2023 , and are signed on behalf of the board by:
Mr J Williams
Director
Company registration number: 10590321
JW Digital Solutions Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Gwylfa Cottage, New Brighton, Minera, LL11 3DT, Wrexham.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. The director considers this basis to be appropriate because of the continuing financial support provided by the director.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 February 2022 and 31 January 2023
2,280
-------
Depreciation
At 1 February 2022
2,163
Charge for the year
117
-------
At 31 January 2023
2,280
-------
Carrying amount
At 31 January 2023
-------
At 31 January 2022
117
-------
6. Debtors
2023
2022
£
£
Trade debtors
141
1,397
Other debtors
1,406
----
-------
141
2,803
----
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
236
Social security and other taxes
152
253
Other creditors
16,690
10,765
--------
--------
16,842
11,254
--------
--------
8. Director's advances, credits and guarantees
The director operates a current account with the company, the opening balance of which was £9,936 and the closing balance of which was £15,811 (2022 £9,936). The loan is interest free and repayable to the director on demand.