IRIS Accounts Production v23.3.0.418 05094370 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050943702022-03-31050943702023-03-31050943702022-04-012023-03-31050943702021-03-31050943702021-04-012022-03-31050943702022-03-3105094370ns10:Originalns15:EnglandWales2022-04-012023-03-3105094370ns14:PoundSterlingns10:Original2022-04-012023-03-3105094370ns10:Originalns10:Director12022-04-012023-03-3105094370ns10:Original2022-04-012023-03-3105094370ns10:Original2023-03-3105094370ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3105094370ns10:Originalns10:SmallEntities2022-04-012023-03-3105094370ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3105094370ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3105094370ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3105094370ns10:Originalns10:AbridgedAccounts2022-04-012023-03-3105094370ns10:Original12022-04-012023-03-3105094370ns10:Originalns10:Director22022-04-012023-03-3105094370ns10:Originalns10:Director32022-04-012023-03-3105094370ns10:Originalns10:RegisteredOffice2022-04-012023-03-3105094370ns10:Original2022-03-3105094370ns10:Originalns5:CurrentFinancialInstruments2023-03-3105094370ns10:Originalns5:CurrentFinancialInstruments2022-03-3105094370ns10:Originalns5:Non-currentFinancialInstruments2023-03-3105094370ns10:Originalns5:Non-currentFinancialInstruments2022-03-3105094370ns5:ShareCapitalns10:Original2023-03-3105094370ns5:ShareCapitalns10:Original2022-03-3105094370ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3105094370ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3105094370ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2022-04-012023-03-3105094370ns10:Originalns5:LeaseholdImprovements2022-04-012023-03-3105094370ns10:Originalns5:ComputerEquipment2022-04-012023-03-3105094370ns10:Original2021-04-012022-03-3105094370ns10:Original2022-03-3105094370ns10:Originalns5:DeferredTaxation2022-03-3105094370ns10:Originalns5:DeferredTaxation2023-03-31
REGISTERED NUMBER: 05094370 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

WASP SOFTWARE LIMITED

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WASP SOFTWARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M G Brett
J P Brock
S Goodinson





REGISTERED OFFICE: Pear Tree House
Birch Cross
Marchington
Uttoxeter
Staffordshire
ST14 8NU





REGISTERED NUMBER: 05094370 (England and Wales)





ACCOUNTANTS: B W Bradley & Associates
41 St John Street
Ashbourne
DE6 1GP

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,425 5,362
31,425 5,362

CURRENT ASSETS
Debtors 232,283 1,143,995
Prepayments and accrued income 2,361 1,205
Cash at bank 266,973 8,405
501,617 1,153,605
CREDITORS
Amounts falling due within one year 53,298 274,005
NET CURRENT ASSETS 448,319 879,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

479,744

884,962

CREDITORS
Amounts falling due after more than one
year

(2,405

)

(4,796

)

PROVISIONS FOR LIABILITIES 6 (1,145 ) (1,019 )

ACCRUALS AND DEFERRED INCOME (187,361 ) (491,602 )
NET ASSETS 288,833 387,545

CAPITAL AND RESERVES
Called up share capital 175 175
Retained earnings 288,658 387,370
SHAREHOLDERS' FUNDS 288,833 387,545

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





M G Brett - Director


WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Wasp Software Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Software licences are allocated with an order and are invoiced in advance. Project service revenues follow user acceptance testing with annual support and maintenance being allocated within the financial year the service is provided.

Intangible assets - other
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Intangible assets are amortised on a straight-line bias over their useful lives. The useful lives of intangible assets are as follows

Development expenditure 3 years
Computer software 3 years

Provision is made for any impairment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office - 10% on cost
Office equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 30,000
AMORTISATION
At 1 April 2022
and 31 March 2023 30,000
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 9,679
Additions 33,407
At 31 March 2023 43,086
DEPRECIATION
At 1 April 2022 4,317
Charge for year 7,344
At 31 March 2023 11,661
NET BOOK VALUE
At 31 March 2023 31,425
At 31 March 2022 5,362

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022
and 31 March 2023 7,196
DEPRECIATION
At 1 April 2022 2,398
Charge for year 2,400
At 31 March 2023 4,798
NET BOOK VALUE
At 31 March 2023 2,398
At 31 March 2022 4,798

6. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,145 1,019

Deferred
tax
£   
Balance at 1 April 2022 1,019
Accelerated capital allowances 126
Balance at 31 March 2023 1,145