IRIS Accounts Production v23.3.1.45 10086986 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:kWh100869862022-03-31100869862023-03-31100869862022-04-012023-03-31100869862021-03-31100869862021-04-012022-03-31100869862022-03-3110086986ns10:Originalns15:EnglandWales2022-04-012023-03-3110086986ns14:PoundSterlingns10:Original2022-04-012023-03-3110086986ns10:Originalns10:Director12022-04-012023-03-3110086986ns10:Original2022-04-012023-03-3110086986ns10:Original2023-03-3110086986ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3110086986ns10:Originalns10:SmallEntities2022-04-012023-03-3110086986ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3110086986ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3110086986ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3110086986ns10:Originalns10:FullAccounts2022-04-012023-03-3110086986ns10:Original12022-04-012023-03-3110086986ns10:Originalns10:Director22022-04-012023-03-3110086986ns10:Originalns10:RegisteredOffice2022-04-012023-03-3110086986ns10:Original2022-03-3110086986ns10:Originalns5:CurrentFinancialInstruments2023-03-3110086986ns10:Originalns5:CurrentFinancialInstruments2022-03-3110086986ns5:ShareCapitalns10:Original2023-03-3110086986ns5:ShareCapitalns10:Original2022-03-3110086986ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3110086986ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3110086986ns10:Originalns5:NetGoodwill2022-04-012023-03-3110086986ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-3110086986ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-04-012023-03-3110086986ns10:Originalns5:FurnitureFittings2022-04-012023-03-3110086986ns10:Originalns5:ComputerEquipment2022-04-012023-03-3110086986ns10:Original2021-04-012022-03-3110086986ns10:Originalns5:NetGoodwill2022-03-3110086986ns10:Originalns5:NetGoodwill2023-03-3110086986ns10:Originalns5:NetGoodwill2022-03-3110086986ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-03-3110086986ns10:Originalns5:FurnitureFittings2022-03-3110086986ns10:Originalns5:ComputerEquipment2022-03-3110086986ns10:Original2022-03-3110086986ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3110086986ns10:Originalns5:FurnitureFittings2023-03-3110086986ns10:Originalns5:ComputerEquipment2023-03-3110086986ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-03-3110086986ns10:Originalns5:FurnitureFittings2022-03-3110086986ns10:Originalns5:ComputerEquipment2022-03-3110086986ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110086986ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: 10086986 (England and Wales)









Financial Statements

for the Year Ended 31 March 2023

for

WPI Economics Limited

WPI Economics Limited (Registered number: 10086986)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WPI Economics Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Oakley
Mrs E Oakley





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 10086986 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

WPI Economics Limited (Registered number: 10086986)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,629 7,289
12,629 7,289

CURRENT ASSETS
Stocks 6 39,538 36,175
Debtors 7 370,048 126,282
Cash at bank 340,665 369,941
750,251 532,398
CREDITORS
Amounts falling due within one year 8 (269,719 ) (152,052 )
NET CURRENT ASSETS 480,532 380,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,161

387,635

PROVISIONS FOR LIABILITIES (2,331 ) -
NET ASSETS 490,830 387,635

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 490,730 387,535
SHAREHOLDERS' FUNDS 490,830 387,635

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:




M Oakley - Director


WPI Economics Limited (Registered number: 10086986)

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

1. STATUTORY INFORMATION

WPI Economics 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.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over the life of the lease
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

WPI Economics Limited (Registered number: 10086986)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 55,000
AMORTISATION
At 1 April 2022
and 31 March 2023 55,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 - 2,305 20,094 22,399
Additions 3,307 913 7,589 11,809
At 31 March 2023 3,307 3,218 27,683 34,208
DEPRECIATION
At 1 April 2022 - 1,840 13,270 15,110
Charge for year - 245 6,224 6,469
At 31 March 2023 - 2,085 19,494 21,579
NET BOOK VALUE
At 31 March 2023 3,307 1,133 8,189 12,629
At 31 March 2022 - 465 6,824 7,289

6. STOCKS
2023 2022
£    £   
Work-in-progress 39,538 36,175

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 352,398 125,807
Prepayments and accrued income 17,650 475
370,048 126,282

WPI Economics Limited (Registered number: 10086986)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 8,784 3,042
Tax 61,691 52,073
Social security and other taxes 20,661 7,400
VAT 123,848 79,604
Directors' current accounts 4,099 5,837
Accruals and deferred income 50,636 4,096
269,719 152,052