W2E Development Ltd 12443202 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the design and development of industrial processes and technology Digita Accounts Production Advanced 6.30.9574.0 true 12443202 2022-03-01 2023-02-28 12443202 2023-02-28 12443202 bus:OrdinaryShareClass1 2023-02-28 12443202 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 12443202 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 12443202 bus:SmallEntities 2022-03-01 2023-02-28 12443202 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12443202 bus:FullAccounts 2022-03-01 2023-02-28 12443202 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 12443202 bus:RegisteredOffice 2022-03-01 2023-02-28 12443202 bus:Director1 2022-03-01 2023-02-28 12443202 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 12443202 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12443202 1 2022-03-01 2023-02-28 12443202 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-01 2023-02-28 12443202 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 1 2022-03-01 2023-02-28 12443202 countries:EnglandWales 2022-03-01 2023-02-28 12443202 2022-02-28 12443202 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 12443202 2021-03-01 2022-02-28 12443202 2022-02-28 12443202 bus:OrdinaryShareClass1 2022-02-28 12443202 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 12443202 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12443202

W2E Development Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

W2E Development Ltd

(Registration number: 12443202)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

141,555

128,621

Current assets

 

Cash at bank and in hand

 

13,839

47,562

Creditors: Amounts falling due within one year

5

(2,500)

(3,149)

Net current assets

 

11,339

44,413

Net assets

 

152,894

173,034

Capital and reserves

 

Called up share capital

6

400

400

Share premium reserve

199,600

199,600

Retained earnings

(47,106)

(26,966)

Shareholders' funds

 

152,894

173,034

For the financial year ending 28 February 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 28 November 2023 and signed on its behalf by:
 

.........................................
H K Tayton-Martin
Director

 

W2E Development Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 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:
Office 9
Dalton House
60 Windsor Avenue
London
SW19 2RR
United Kingdom

These financial statements were authorised for issue by the Board on 28 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.

Development costs

Development costs in respect of projects which have been assessed as technically and commercially feasible are capitalised as fixed assets. Development costs are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

10% straight line

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 0 (2022 - 0).

 

W2E Development Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

4

Intangible assets

Development costs
 £

Total
£

Cost or valuation

At 1 March 2022

153,051

153,051

Additions internally developed

31,377

31,377

At 28 February 2023

184,428

184,428

Amortisation

At 1 March 2022

24,430

24,430

Amortisation charge

18,443

18,443

At 28 February 2023

42,873

42,873

Carrying amount

At 28 February 2023

141,555

141,555

At 28 February 2022

128,621

128,621

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,500

1,250

Accruals and deferred income

900

1,800

Other creditors

100

99

2,500

3,149

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

400

400

400

400