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Registered number: 04392892
Way With Words Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 March 2024
Directors' Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Statement of Income and Retained Earnings 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Directors A P Kossowski
P J Laubscher
T Swart
Company Number 04392892
Registered Office Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
Accountants Exceed Accountants Limited
Bank House
81 St Judes Road
Englefield Green
TW20 0DF
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 March 2024.
Principal Activity
The principal activity of the company during the year was marketing of transcription and related services.
Directors
The directors who held office during the year were as follows:
A P Kossowski
P J Laubscher
T Swart
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
A P Kossowski
Director
07/08/2024
Page 2
Page 3
Accountants' Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at period ended 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
07/08/2024
Exceed Accountants Limited
Bank House
81 St Judes Road
Englefield Green
TW20 0DF
Page 3
Page 4
Statement of Income and Retained Earnings
2024 2023
Notes £ £
TURNOVER 694,898 1,002,451
Cost of sales (512,412 ) (702,810 )
GROSS PROFIT 182,486 299,641
Administrative expenses (158,897 ) (241,216 )
OPERATING PROFIT AND PROFIT BEFORE TAXATION 23,589 58,425
Tax on Profit (6,370 ) (15,775 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 17,219 42,650
RETAINED EARNINGS
As at 1 April 2023 79,921 107,271
Dividends paid - (70,000)
As at 31 March 2024 97,140 79,921
The notes on pages 7 to 9 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 845 663
845 663
CURRENT ASSETS
Debtors 5 50,102 71,223
Cash at bank and in hand 128,453 132,811
178,555 204,034
Creditors: Amounts Falling Due Within One Year 6 (79,673 ) (122,189 )
NET CURRENT ASSETS (LIABILITIES) 98,882 81,845
TOTAL ASSETS LESS CURRENT LIABILITIES 99,727 82,508
NET ASSETS 99,727 82,508
CAPITAL AND RESERVES
Called up share capital 7 200 200
Share premium account 2,387 2,387
Profit and Loss Account 97,140 79,921
SHAREHOLDERS' FUNDS 99,727 82,508
Page 5
Page 6
For the year ending 31 March 2024 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
A P Kossowski
Director
07/08/2024
The notes on pages 7 to 9 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. General Information
Way With Words Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04392892 . The registered office is Ground Floor Marlborough House, 298 Regents Park Road, London, N3 2SZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the
balance sheet date, turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.
Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Equipment 33.33% on cost
Computer Software 33.33% on cost
Fixtures & Fittings 16.67% on cost
Computer Equipment 33.33% on cost
2.4. Foreign Currencies
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 rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Tangible Assets
Office Equipment Computer Software Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 62 98,660 755 1,261 100,738
Additions - - - 583 583
Disposals - (98,660 ) - (425 ) (99,085 )
As at 31 March 2024 62 - 755 1,419 2,236
Depreciation
As at 1 April 2023 28 98,660 316 1,071 100,075
Provided during the period 21 - 126 254 401
Disposals - (98,660 ) - (425 ) (99,085 )
As at 31 March 2024 49 - 442 900 1,391
Net Book Value
As at 31 March 2024 13 - 313 519 845
As at 1 April 2023 34 - 439 190 663
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 48,860 69,981
Other debtors 1,242 1,242
50,102 71,223
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 46,060 25,652
Corporation tax (2,640 ) 2,686
Other taxes and social security 1,292 1,568
VAT 15,260 17,701
Other creditors - 54,678
Deferred income 18,401 18,124
Accruals 1,300 1,300
Directors' loan accounts - 480
79,673 122,189
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7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2,000 Ordinary Shares of £ 0.1 each 200 200
8. Related Party Transactions
The company is controlled by its directors.
Included within creditors due within one year, is a balance of £Nil (2023 - £480), owed by the company to the directors.
Way With Words SA (Pty) Ltd 
During the year the company purchased services in the normal course of business from Way With Words SA (Pty) Ltd for £375,583 (2023 - £465,530), of which A P Kossowski, P J Laubscher and G A Morrissey are directors.
Included under creditors falling due within one year, the company owes Way With Words SA (Pty) Ltd £31,721 (2023 - £6,453). This loan is unsecured, bears no interest and is payable on demand.
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