WeOptimise Limited 13108824 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is 62090 - Other information technology service activities Digita Accounts Production Advanced 6.30.9574.0 true 13108824 2022-02-01 2023-01-31 13108824 2023-01-31 13108824 core:RetainedEarningsAccumulatedLosses 2023-01-31 13108824 core:ShareCapital 2023-01-31 13108824 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13108824 core:OfficeEquipment 2023-01-31 13108824 bus:SmallEntities 2022-02-01 2023-01-31 13108824 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 13108824 bus:FullAccounts 2022-02-01 2023-01-31 13108824 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 13108824 bus:RegisteredOffice 2022-02-01 2023-01-31 13108824 bus:Director2 2022-02-01 2023-01-31 13108824 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 13108824 core:ComputerEquipment 2022-02-01 2023-01-31 13108824 core:OfficeEquipment 2022-02-01 2023-01-31 13108824 countries:EnglandWales 2022-02-01 2023-01-31 13108824 2022-01-31 13108824 core:OfficeEquipment 2022-01-31 13108824 2021-02-01 2022-01-31 13108824 2022-01-31 13108824 core:RetainedEarningsAccumulatedLosses 2022-01-31 13108824 core:ShareCapital 2022-01-31 13108824 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 13108824 core:OfficeEquipment 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 13108824

WeOptimise Limited

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 January 2023

 

WeOptimise Limited

(Registration number: 13108824)
Statement of Financial Position as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,499

3,332

Current assets

 

Cash at bank and in hand

 

80,111

94,231

Creditors: Amounts falling due within one year

5

(4,429)

(21,599)

Net current assets

 

75,682

72,632

Total assets less current liabilities

 

78,181

75,964

Provisions for liabilities

(475)

-

Net assets

 

77,706

75,964

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

77,606

75,864

Shareholders' funds

 

77,706

75,964

For the financial 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.

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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 20 October 2023 and signed on its behalf by:
 

.........................................
Mrs H A J Sambles
Director

 

WeOptimise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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: 7 Bower Road, Wrecclesham, Farnham, Surrey, GU10 4ST. England.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

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

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

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.

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.

 

WeOptimise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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 statement of financial position 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

Computer equipment

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

WeOptimise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Computer equipment
£

Total
£

Cost or valuation

At 1 February 2022

4,529

4,529

At 31 January 2023

4,529

4,529

Depreciation

At 1 February 2022

1,197

1,197

Charge for the year

833

833

At 31 January 2023

2,030

2,030

Carrying amount

At 31 January 2023

2,499

2,499

At 31 January 2022

3,332

3,332

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Taxation and social security

1,830

17,750

Accruals and deferred income

1,750

1,500

Other creditors

849

2,349

4,429

21,599