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Registered Number: 06297678
England and Wales

 

 

 

WEB EDITORS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
Director Peter Shaw
Registered Number 06297678
Registered Office 239a Lewisham Way
Brockley
London
London
SE4 1XT
Secretary Marcus Beattie
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 30 June 2023.
Principal activities
Principal activity of the company during the financial year was of software publishing.
Director
The director who served the company throughout the year was as follows:
Peter Shaw

On behalf of the board.


----------------------------------
Peter Shaw
Director

Date approved: 16 January 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 1,593    328 
1,593    328 
Current assets      
Debtors 5 5,208    9,641 
Cash at bank and in hand 18,059    6,192 
23,267    15,833 
Creditors: amount falling due within one year 6 (6,218)   (4,505)
Net current assets 17,049    11,328 
 
Total assets less current liabilities 18,642    11,656 
Provisions for liabilities 7 (303)   (62)
Net assets 18,339    11,594 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 18,338    11,593 
Shareholder's funds 18,339    11,594 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 16 January 2024 and were signed by:


-------------------------------
Peter Shaw
Director
3
General Information
Web Editors Ltd is a private company, limited by shares, registered in England and Wales, registration number 06297678, registration address 239a Lewisham Way, Brockley, London, London, SE4 1XT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102.1A The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and fittings - 10% on cost

Computer equipment - 33% on cost
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2022 15,116    15,116 
Additions  
Disposals  
At 30 June 2023 15,116    15,116 
Amortisation
At 01 July 2022 15,116    15,116 
Charge for year  
On disposals  
At 30 June 2023 15,116    15,116 
Net book values
At 30 June 2023  
At 30 June 2022  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 July 2022 1,241    6,324    7,565 
Additions   2,144    2,144 
Disposals    
At 30 June 2023 1,241    8,468    9,709 
Depreciation
At 01 July 2022 1,241    5,996    7,237 
Charge for year   879    879 
On disposals    
At 30 June 2023 1,241    6,875    8,116 
Net book values
Closing balance as at 30 June 2023   1,593    1,593 
Opening balance as at 01 July 2022   328    328 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 5,208    4,970 
Amounts Recoverable on Contracts   4,671 
5,208    9,641 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Social security and other taxes 5,527    4,126 
Directors' Current Accounts 691    379 
6,218    4,505 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 303    62 
303    62 

4