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Logo On Report
Registered Number: 07139787
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 November 2023

for

W3TECH LTD

Directors Benjamin James Prior
Neil Robert Emms
Registered Number 07139787
Registered Office 29 Eastern Way
Bury St Edmunds
IP32 7AB
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2023
Principal activities
The principal activity of the company during the financial year was of software development and support.
Directors
The directors who served the company throughout the year were as follows:
Benjamin James Prior
Neil Robert Emms
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :
-    select suitable accounting policies and then apply them consistently
-    make judgements and accounting estimates that are reasonable and prudent
-    state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
-    prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Neil Robert Emms
Director

Date approved: 21 February 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,166    1,784 
Investments 4 200    200 
1,366    1,984 
Current assets      
Debtors 5 158,234    147,954 
Cash at bank and in hand 77,871    57,291 
236,105    205,245 
Creditors: amount falling due within one year 6 (99,029)   (55,698)
Net current assets 137,076    149,547 
 
Total assets less current liabilities 138,442    151,531 
Creditors: amount falling due after more than one year 7 (17,473)   (38,081)
Net assets 120,969    113,450 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 120,869    113,350 
Shareholders' funds 120,969    113,450 
 


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

Directors' 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 directors acknowledge 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. 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 board of directors on 21 February 2024 and were signed on its behalf by:


-------------------------------
Benjamin James Prior
Director
3
General Information
W3Tech Ltd is a private company, limited by shares, registered in England and Wales, registration number 07139787, registration address 29 Eastern Way, Bury St Edmunds, IP32 7AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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 30% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 9 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 December 2022 53,388    53,388 
Additions  
Disposals  
At 30 November 2023 53,388    53,388 
Depreciation
At 01 December 2022 51,604    51,604 
Charge for year 618    618 
On disposals  
At 30 November 2023 52,222    52,222 
Net book values
Closing balance as at 30 November 2023 1,166    1,166 
Opening balance as at 01 December 2022 1,784    1,784 


4.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 December 2022 200    200 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 November 2023 200    200 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Amount Owed by Group Undertakings 103,621    103,256 
Prepayments & Accrued Income 23,193    13,278 
Other Debtors 31,420    31,420 
158,234    147,954 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 3,037    2,411 
Bank Loans & Overdrafts 10,800   
PAYE & Social Security 58,638    38,696 
Accrued Expenses 23,963    11,969 
Other Creditors 2,591    2,622 
99,029    55,698 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 17,473    38,081 
17,473    38,081 

8.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Giftzie Ltd12,025 
Stuff4 Ltd91,596 103,256 


4