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Company Registration No. 08312391 (England and Wales)
Wolfluxe Limited Unaudited accounts for the year ended 31 October 2023
Wolfluxe Limited Unaudited accounts Contents
Page
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Wolfluxe Limited Company Information for the year ended 31 October 2023
Director
Alexander Justin Sherlock
Company Number
08312391 (England and Wales)
Registered Office
136 Hall Street Stockport Greater Manchester SK1 4HE
Accountants
Bee Motion Accounting Limited 136 Hall Street Stockport Greater Manchester SK1 4HE
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Wolfluxe Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,693 
2,833 
Current assets
Debtors
13,475 
27,612 
Cash at bank and in hand
15,270 
4,148 
28,745 
31,760 
Creditors: amounts falling due within one year
(16,560)
(19,971)
Net current assets
12,185 
11,789 
Total assets less current liabilities
14,878 
14,622 
Provisions for liabilities
Deferred tax
(512)
(538)
Net assets
14,366 
14,084 
Capital and reserves
Called up share capital
2,000 
2,000 
Profit and loss account
12,366 
12,084 
Shareholders' funds
14,366 
14,084 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
Alexander Justin Sherlock Director Company Registration No. 08312391
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Wolfluxe Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Wolfluxe Limited is a private company, limited by shares, registered in England and Wales, registration number 08312391. The registered office is 136 Hall Street, Stockport, Greater Manchester, SK1 4HE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
Presentation currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or services. i) Sale of goods Turnover from the sale of goods are recognised when significant risks and rewards of ownership have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company. ii) Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
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Wolfluxe Limited Notes to the Accounts for the year ended 31 October 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Employee benefits
The company offers a range of benefits to employees, including bonus arrangements, paid holiday arrangements and defined contribution pension plans. Short-term employee benefits are those expected to be settled wholly before twelve months after the end of the annual reporting period during which employee services are rendered, but do not include termination benefits.
Pension scheme
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown within 'taxes and social security' on the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Going concern
The company has considerable financial resources together with contracts with a number of clients. The director believes that the company is well placed to manage its business risks successfully. After making enquiries, the director has reasonable expectations that the company has adequate resources to continue in operational existence for a period of at least twelve months and for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 November 2022
4,016 
Additions
1,024 
At 31 October 2023
5,040 
Depreciation
At 1 November 2022
1,183 
Charge for the year
1,164 
At 31 October 2023
2,347 
Net book value
At 31 October 2023
2,693 
At 31 October 2022
2,833 
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Wolfluxe Limited Notes to the Accounts for the year ended 31 October 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
9,058 
26,740 
Accrued income and prepayments
429 
191 
Other debtors
3,988 
681 
13,475 
27,612 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,883 
7,995 
Trade creditors
432 
104 
Taxes and social security
10,460 
9,615 
Accruals
1,785 
2,257 
16,560 
19,971 
7
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
512 
538 
2023 
2022 
£ 
£ 
Provision at start of year
538 
316 
(Credited)/charged to the profit and loss account
(26)
222 
Provision at end of year
512 
538 
8
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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