Registered number
05157892
Wewow Limited
Unaudited Filleted Accounts
30 November 2023
Wewow Limited
Registered number: 05157892
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,059 545
Tangible assets 4 178,015 96,246
179,074 96,791
Current assets
Stocks 423 375
Debtors 5 168,591 76,946
Cash at bank and in hand 441,467 455,432
610,481 532,753
Creditors: amounts falling due within one year 6 (125,164) (121,167)
Net current assets 485,317 411,586
Total assets less current liabilities 664,391 508,377
Provisions for liabilities (35,922) (14,821)
Net assets 628,469 493,556
Capital and reserves
Called up share capital 2 2
Profit and loss account 628,467 493,554
Shareholder's funds 628,469 493,556
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Jones
Director
Approved by the board on 16 April 2024
Wewow Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to leasehold buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings & office equipment 25% reducing balance
Computer equipment 25% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 721
Additions 798
At 30 November 2023 1,519
Amortisation
At 1 December 2022 176
Provided during the year 284
At 30 November 2023 460
Net book value
At 30 November 2023 1,059
At 30 November 2022 545
Intangible assets are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 40,780 138,176 55,390 234,346
Additions 3,632 19,236 103,157 126,025
At 30 November 2023 44,412 157,412 158,547 360,371
Depreciation
At 1 December 2022 24,973 106,843 6,284 138,100
Charge for the year 11,180 11,562 21,514 44,256
At 30 November 2023 36,153 118,405 27,798 182,356
Net book value
At 30 November 2023 8,259 39,007 130,749 178,015
At 30 November 2022 15,807 31,333 49,106 96,246
5 Debtors 2023 2022
£ £
Trade debtors 157,422 66,715
Other debtors 11,169 10,231
168,591 76,946
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 39,423 17,746
Taxation and social security costs 60,292 77,442
Other creditors 25,449 25,979
125,164 121,167
7 Related party transactions
Included within creditors is an amount owing to Mr S Jones of £19,932 for his Director's loan account (2022: £19,932).
8 Controlling party
The company was under the control of Mr S Jones throughout the year. He owns 100% of the share capital and is the managing director.
9 Other information
Wewow Limited is a private company limited by shares and incorporated in England. Its registered office is:
Shed 26, Salts Mill
Salts Mill Road
Saltaire
West Yorkshire
BD18 3LA
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