Company registration number 02463943 (England and Wales)
WEB TRAINING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
WEB TRAINING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
WEB TRAINING LIMITED (REGISTERED NUMBER: 02463943)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
997,515
985,015
Current assets
Debtors
4
43,520
44,952
Cash at bank and in hand
87,535
62,231
131,055
107,183
Creditors: amounts falling due within one year
5
(2,821)
(2,109)
Net current assets
128,234
105,074
Total assets less current liabilities
1,125,749
1,090,089
Creditors: amounts falling due after more than one year
6
(661,891)
(661,936)
Provisions for liabilities
(79,994)
(71,149)
Net assets
383,864
357,004
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
7
395,066
391,411
Distributable profit and loss reserves
(11,302)
(34,507)
Total equity
383,864
357,004

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

WEB TRAINING LIMITED (REGISTERED NUMBER: 02463943)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 1 August 2024
Mr W L Lang
Director
WEB TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Web Training Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11A Farmdale Avenue, Rochester, Kent, United Kingdom, ME1 3HU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of consideration received or receivable for the rental income provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria must also be met before turnover is recognised.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- The amount of turnover can be measured reliably                

- It is probable that the company will receive the consideration due under the contract    

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably    

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Investment properties are not subject to depreciation.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

WEB TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 April 2023
985,015
Revaluations
12,500
At 31 March 2024
997,515

Investment property comprises properties at fair value of £997,515. The fair value of the investment property has been arrived at by the directors best estimates.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
43,520
44,952
WEB TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
606
-
0
Other creditors
2,215
2,109
2,821
2,109
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
661,891
661,936

The bank loan is secured by way of a fixed and floating charge and contains a negative pledge.

7
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
391,411
369,051
Non distributable profits in the year
3,655
22,360
At the end of the year
395,066
391,411
8
Director's transactions

Within other debtors is an overdrawn director's loan account balance of £33,737 (2023: £35,041). There is no interest charged on this loan.

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