WEB3CONSULT Ltd 13941003 false 2022-02-25 2023-03-31 2023-03-31 The principal activity of the company is management consultancy Digita Accounts Production Advanced 6.30.9574.0 true true 13941003 2022-02-25 2023-03-31 13941003 2023-03-31 13941003 core:RetainedEarningsAccumulatedLosses 2023-03-31 13941003 core:ShareCapital 2023-03-31 13941003 core:CurrentFinancialInstruments 2023-03-31 13941003 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13941003 bus:SmallEntities 2022-02-25 2023-03-31 13941003 bus:AuditExemptWithAccountantsReport 2022-02-25 2023-03-31 13941003 bus:FullAccounts 2022-02-25 2023-03-31 13941003 bus:SmallCompaniesRegimeForAccounts 2022-02-25 2023-03-31 13941003 bus:RegisteredOffice 2022-02-25 2023-03-31 13941003 bus:Director1 2022-02-25 2023-03-31 13941003 bus:PrivateLimitedCompanyLtd 2022-02-25 2023-03-31 13941003 countries:EnglandWales 2022-02-25 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13941003

WEB3CONSULT Ltd

Annual Report and Unaudited Financial Statements

for the Period from 25 February 2022 to 31 March 2023

image-name
 

WEB3CONSULT Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

WEB3CONSULT Ltd

Company Information

Director

Mr Peter Goold

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

WEB3CONSULT Ltd

(Registration number: 13941003)
Balance Sheet as at 31 March 2023

Note

31 March 2023
 £

Current assets

 

Investments

5

2,980

Cash at bank and in hand

 

880

 

3,860

Creditors: Amounts falling due within one year

6

(91,193)

Net liabilities

 

(87,333)

Capital and Reserves

 

Called up share capital

100

Profit and loss account

(87,433)

Total equity

 

(87,333)

For the financial period ending 31 March 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 November 2023
 

.........................................
Mr Peter Goold
Director

   
     
 

WEB3CONSULT Ltd

Notes to the Unaudited Financial Statements for the Period from 25 February 2022 to 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:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the director on 22 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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

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 presented in Sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the company's net liability position at the balance sheet date. The director is confident that with his continued support, the company can remain in operational existence for the foreseeable future.

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.

 

WEB3CONSULT Ltd

Notes to the Unaudited Financial Statements for the Period from 25 February 2022 to 31 March 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 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.

 

WEB3CONSULT Ltd

Notes to the Unaudited Financial Statements for the Period from 25 February 2022 to 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, analysed by category was as follows:

25 February 2022 to 31 March 2023
 No.

Administration and support

1

1

4

Debtors

Current

2023
£

5

Current asset investments

31 March 2023
 £

Other investments

2,980

 

WEB3CONSULT Ltd

Notes to the Unaudited Financial Statements for the Period from 25 February 2022 to 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

31 March 2023
 £

Due within one year

 

Loans and borrowings

7

212

Other payables

 

90,981

 

91,193

7

Loans and borrowings

31 March 2023
 £

Current loans and borrowings

Other borrowings

212