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REGISTERED NUMBER: 10917202 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

WEBSMITH DEVELOPMENT LIMITED

WEBSMITH DEVELOPMENT LIMITED (REGISTERED NUMBER: 10917202)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WEBSMITH DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: P C Smith





REGISTERED OFFICE: Southfield Farm
Newbridge Lane
Covenham St Mary
Louth
LN11 0PQ





REGISTERED NUMBER: 10917202 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

WEBSMITH DEVELOPMENT LIMITED (REGISTERED NUMBER: 10917202)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 33,997

CURRENT ASSETS
Debtors 5 20,133 12,329
Cash at bank 47,229 89,099
67,362 101,428
CREDITORS
Amounts falling due within one year 6 3,754 18,588
NET CURRENT ASSETS 63,608 82,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,608

116,837

PROVISIONS FOR LIABILITIES - 8,499
NET ASSETS 63,608 108,338

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings 63,598 108,328
SHAREHOLDERS' FUNDS 63,608 108,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 January 2024 and were signed by:



P C Smith - Director


WEBSMITH DEVELOPMENT LIMITED (REGISTERED NUMBER: 10917202)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Websmith Development 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 under a non-going concern basis. The company ceased to trade on 7 August 2023. Therefore all assets are stated as current and at their realisable value, and liabilities are stated at their settlement value, categorised by their legally enforceable due dates of payment.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised in the period the work is carried out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

WEBSMITH DEVELOPMENT LIMITED (REGISTERED NUMBER: 10917202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 41,934
Additions 6,417
Disposals (48,351 )
At 31 August 2023 -
DEPRECIATION
At 1 September 2022 7,937
Eliminated on disposal (7,937 )
At 31 August 2023 -
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 33,997

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts recoverable on contract - 11,288
Other debtors 20,133 1,041
20,133 12,329

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 2,154 16,809
Other creditors 1,600 1,779
3,754 18,588

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9 Ordinary £1 9 9
1 Ordinary A £1 1 1
10 10

WEBSMITH DEVELOPMENT LIMITED (REGISTERED NUMBER: 10917202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
P C Smith
Balance outstanding at start of year - -
Amounts advanced 19,992 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,992 -

The above overdrawn directors loan account was repaid within nine months of the year end.