Acorah Software Products - Accounts Production 15.0.600 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 12134324 Mr Andrew Wagland Mrs Christie Wagland iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12134324 2022-08-31 12134324 2023-08-31 12134324 2022-09-01 2023-08-31 12134324 frs-core:CurrentFinancialInstruments 2023-08-31 12134324 frs-core:Non-currentFinancialInstruments 2023-08-31 12134324 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 12134324 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-01 2023-08-31 12134324 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-08-31 12134324 frs-core:FurnitureFittings 2023-08-31 12134324 frs-core:FurnitureFittings 2022-09-01 2023-08-31 12134324 frs-core:FurnitureFittings 2022-08-31 12134324 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 12134324 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12134324 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-31 12134324 frs-core:ShareCapital 2023-08-31 12134324 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 12134324 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12134324 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 12134324 frs-bus:SmallEntities 2022-09-01 2023-08-31 12134324 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12134324 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12134324 frs-bus:Director1 2022-09-01 2023-08-31 12134324 frs-bus:Director2 2022-09-01 2023-08-31 12134324 frs-countries:EnglandWales 2022-09-01 2023-08-31 12134324 2021-08-31 12134324 2022-08-31 12134324 2021-09-01 2022-08-31 12134324 frs-core:CurrentFinancialInstruments 2022-08-31 12134324 frs-core:Non-currentFinancialInstruments 2022-08-31 12134324 frs-core:ShareCapital 2022-08-31 12134324 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 12134324
Waglets Limited
Financial Statements
For The Year Ended 31 August 2023
Heighten Accountants
84 Aldermans Hill
Palmers Green
London
N13 4PP
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12134324
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 239,700 -
Tangible Assets 5 75,776 66,836
315,476 66,836
CURRENT ASSETS
Cash at bank and in hand 3,136 257,540
3,136 257,540
Creditors: Amounts Falling Due Within One Year 6 (26,939 ) (25,281 )
NET CURRENT ASSETS (LIABILITIES) (23,803 ) 232,259
TOTAL ASSETS LESS CURRENT LIABILITIES 291,673 299,095
Creditors: Amounts Falling Due After More Than One Year 7 (306,647 ) (300,000 )
NET LIABILITIES (14,974 ) (905 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (15,074 ) (1,005 )
SHAREHOLDERS' FUNDS (14,974) (905)
Page 1
Page 2
For the year ending 31 August 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Wagland
Director
07/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Waglets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12134324 . The registered office is 1 Hookers Road, London, E17 6DP.
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 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. 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:
Freehold NIL
Fixtures & Fittings 25% SL
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Intangible Assets
Development Costs
£
Cost
As at 1 September 2022 -
Additions 239,700
As at 31 August 2023 239,700
Net Book Value
As at 31 August 2023 239,700
As at 1 September 2022 -
Page 3
Page 4
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2022 66,836 - 66,836
Additions - 11,920 11,920
As at 31 August 2023 66,836 11,920 78,756
Depreciation
As at 1 September 2022 - - -
Provided during the period - 2,980 2,980
As at 31 August 2023 - 2,980 2,980
Net Book Value
As at 31 August 2023 66,836 8,940 75,776
As at 1 September 2022 66,836 - 66,836
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax - 2
Accruals and deferred income 960 1,000
Directors' loan accounts 25,979 24,279
26,939 25,281
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Directors loan account 306,647 300,000
306,647 300,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4