Company Registration No. 12012366 (England and Wales)
Webappz Digital Ltd
Unaudited accounts
for the year ended 30 June 2023
Webappz Digital Ltd
Unaudited accounts
Contents
Webappz Digital Ltd
Company Information
for the year ended 30 June 2023
Director
Mr H. Douglas-Smith
Company Number
12012366 (England and Wales)
Registered Office
27 Old Gloucester Street
London
WC1N 3AX
England
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
Webappz Digital Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
2,226
3,319
Cash at bank and in hand
124
459
Creditors: amounts falling due within one year
(40,968)
(35,765)
Net current liabilities
(9,549)
(3,732)
Total assets less current liabilities
(7,323)
(413)
Creditors: amounts falling due after more than one year
(23,009)
(26,898)
Net liabilities
(30,332)
(27,311)
Called up share capital
100
100
Profit and loss account
(30,432)
(27,411)
Shareholders' funds
(30,332)
(27,311)
For the year ending 30 June 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 6 March 2024 and were signed on its behalf by
Mr H. Douglas-Smith
Director
Company Registration No. 12012366
Webappz Digital Ltd
Notes to the Accounts
for the year ended 30 June 2023
Webappz Digital Ltd is a private company, limited by shares, registered in England and Wales, registration number 12012366. The registered office is 27 Old Gloucester Street, London, WC1N 3AX, England.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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
20% Straight line basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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.
Webappz Digital Ltd
Notes to the Accounts
for the year ended 30 June 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Computer equipment
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Computer equipment
-
719
Amounts falling due within one year
Trade debtors
15,150
18,488
Deferred tax asset
7,270
6,562
Accrued income and prepayments
60
58
Webappz Digital Ltd
Notes to the Accounts
for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,889
3,889
Obligations under finance leases and hire purchase contracts
-
291
Trade creditors
6,376
2,617
Loans from directors
23,153
15,688
Deferred income
3,292
5,947
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Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
7,453
11,342
This facility is supported by the Bounce Back Loan Scheme (BBLS). The lender has a guarantee from the UK Government under BBLS. The loan is repayable over 9 years.
8
Transactions with related parties
The director has loaned working capital to the company, which is repayable on demand.
The amount owed to the director at the year-end was £23,153 (2022- £15,688).
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).