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Registration number: 11300811

WR Coding Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

WR Coding Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

 

WR Coding Ltd

Company Information

Director

Mr Mohammed Waqas Ramzan

Registered office

82 Blackburn Road
Accrington
Lancashire
BB5 1LL

Accountants

A.Y.A ACCOUNTANTS
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

 

WR Coding Ltd

Director's Report for the Year Ended 30 April 2023

The director presents his report and the financial statements for the year ended 30 April 2023.

Director of the company

The director who held office during the year was as follows:

Mr Mohammed Waqas Ramzan

Principal activity

The principal activity of the company is IT Consultant

Small companies provision statement

This report has 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.

Approved and authorised by the director on 23 November 2023
 

.........................................
Mr Mohammed Waqas Ramzan
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
WR Coding Ltd
for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WR Coding Ltd for the year ended 30 April 2023 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of WR Coding Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of WR Coding Ltd and state those matters that we have agreed to state to the Board of Directors of WR Coding Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WR Coding Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that WR Coding Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of WR Coding Ltd. You consider that WR Coding Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of WR Coding Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

A.Y.A ACCOUNTANTS
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

23 November 2023

 

WR Coding Ltd

Profit and Loss Account for the Year Ended 30 April 2023

Note

2023
£

2022
£

Turnover

 

101,001

91,242

Gross profit

 

101,001

91,242

Administrative expenses

 

(73,720)

(51,090)

Operating profit

 

27,281

40,152

Other interest receivable and similar income

 

2,520

-

Interest payable and similar expenses

 

(3,258)

(417)

   

(738)

(417)

Profit before tax

4

26,543

39,735

Tax on profit

 

(5,100)

(7,250)

Profit for the financial year

 

21,443

32,485

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

WR Coding Ltd

Statement of Comprehensive Income for the Year Ended 30 April 2023

2023
£

2022
£

Profit for the year

21,443

32,485

Total comprehensive income for the year

21,443

32,485

 

WR Coding Ltd

(Registration number: 11300811)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,189

1,486

Current assets

 

Debtors

6

36,035

33,519

Cash at bank and in hand

 

5,826

9,801

 

41,861

43,320

Creditors: Amounts falling due within one year

7

(19,616)

(13,318)

Net current assets

 

22,245

30,002

Total assets less current liabilities

 

23,434

31,488

Creditors: Amounts falling due after more than one year

7

(21,820)

(21,317)

Net assets

 

1,614

10,171

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

1,612

10,169

Shareholders' funds

 

1,614

10,171

For the financial year ending 30 April 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 year 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.

Approved and authorised by the director on 23 November 2023
 

.........................................
Mr Mohammed Waqas Ramzan
Director

 

WR Coding Ltd

Statement of Changes in Equity for the Year Ended 30 April 2023

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

2

10,169

10,171

Profit for the year

-

21,443

21,443

Dividends

-

(30,000)

(30,000)

At 30 April 2023

2

1,612

1,614

Share capital
£

Retained earnings
£

Total
£

At 1 May 2021

2

-

2

Profit for the year

-

32,485

32,485

Dividends

-

(22,316)

(22,316)

At 30 April 2022

2

10,169

10,171

 

WR Coding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

These financial statements were authorised for issue by the director on 23 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.

Tax

The tax expense for the period comprises current 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.

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.

 

WR Coding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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

Furniture and fittings

20% Reducing Balance

Equipment

20% Reducing Balance

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.

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.

 

WR Coding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

297

372

 

WR Coding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

2,200

2,200

At 30 April 2023

2,200

2,200

Depreciation

At 1 May 2022

714

714

Charge for the year

297

297

At 30 April 2023

1,011

1,011

Carrying amount

At 30 April 2023

1,189

1,189

At 30 April 2022

1,486

1,486

6

Debtors

Current

2023
£

2022
£

Other debtors

36,035

33,519

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

19,466

13,318

Accruals and deferred income

150

-

19,616

13,318

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

21,820

21,317

 

WR Coding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

B Ordinary Shares of £1 each

1

1

1

1

 

2

2

2

2

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

21,820

21,317

10

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £25,000.00 (2022 - £17,307.95) per each Ordinary

 

25,000

 

17,308

Interim dividend of £5,000.00 (2022 - £5,008.00) per each Ordinary B

 

5,000

 

5,008

   

30,000

 

22,316

11

Related party transactions

 

WR Coding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,492

9,492