Wakaleo Consulting Limited 09653461 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is project management. Digita Accounts Production Advanced 6.30.9574.0 true 09653461 2022-04-01 2023-03-31 09653461 2023-03-31 09653461 bus:OrdinaryShareClass1 2023-03-31 09653461 bus:OrdinaryShareClass2 2023-03-31 09653461 core:CurrentFinancialInstruments 2023-03-31 09653461 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09653461 core:FurnitureFittingsToolsEquipment 2023-03-31 09653461 bus:SmallEntities 2022-04-01 2023-03-31 09653461 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09653461 bus:FullAccounts 2022-04-01 2023-03-31 09653461 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09653461 bus:RegisteredOffice 2022-04-01 2023-03-31 09653461 bus:Director1 2022-04-01 2023-03-31 09653461 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09653461 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 09653461 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09653461 core:ComputerEquipment 2022-04-01 2023-03-31 09653461 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 09653461 countries:EnglandWales 2022-04-01 2023-03-31 09653461 2022-03-31 09653461 core:FurnitureFittingsToolsEquipment 2022-03-31 09653461 2021-04-01 2022-03-31 09653461 2022-03-31 09653461 bus:OrdinaryShareClass1 2022-03-31 09653461 bus:OrdinaryShareClass2 2022-03-31 09653461 core:CurrentFinancialInstruments 2022-03-31 09653461 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09653461 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09653461

Wakaleo Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Wakaleo Consulting Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Wakaleo Consulting Limited

(Registration number: 09653461)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,037

15,698

Current assets

 

Debtors

5

52,023

68,036

Cash at bank and in hand

 

28,081

31,657

 

80,104

99,693

Creditors: Amounts falling due within one year

6

(10,613)

(14,805)

Net current assets

 

69,491

84,888

Total assets less current liabilities

 

82,528

100,586

Provisions for liabilities

(2,528)

(3,034)

Net assets

 

80,000

97,552

Capital and reserves

 

Called up share capital

7

170

170

Retained earnings

79,830

97,382

Shareholders' funds

 

80,000

97,552

For the financial year ending 31 March 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 20 November 2023 and signed on its behalf by:
 

.........................................
Mr J F Smart
Director

 

Wakaleo Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
28 Broad Street
Wokingham
Berkshire
RG40 1AB
United Kingdom

These financial statements were authorised for issue by the Board on 20 November 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.

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.

 

Wakaleo Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods and is recognised in respect of all timing differences; although with certain exceptions. Timing differences are differences between taxable profit and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recoverable 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investment property (and other non-depreciable tangible fixed assets) is measured using the tax rates and allowances which will apply to the sale of the asset.Amounts of current and deferred tax are generally recognised in profit or loss, except when they relate to items which are recognised in other comprehensive income or directly in equity and in such cases the amounts are also recognised in other comprehensive or equity as the case may be.

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, fittings and equipment

25% written down value

Computer equipment

25% written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

Wakaleo Consulting Limited

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

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

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 3 (2022 - 3).

 

Wakaleo Consulting Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

34,895

34,895

Additions

1,572

1,572

At 31 March 2023

36,467

36,467

Depreciation

At 1 April 2022

19,197

19,197

Charge for the year

4,233

4,233

At 31 March 2023

23,430

23,430

Carrying amount

At 31 March 2023

13,037

13,037

At 31 March 2022

15,698

15,698

5

Debtors

Current

2023
£

2022
£

Trade debtors

3,223

18,270

Other debtors

48,800

49,766

 

52,023

68,036

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

32

-

Corporation tax

 

8,406

14,776

Taxation and social security

 

2,174

29

Other creditors

 

1

-

 

10,613

14,805

 

Wakaleo Consulting Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

85

85

85

85

Ordinary B shares of £1 each

85

85

85

85

 

170

170

170

170

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

32

-