Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity64falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12324813 2023-01-01 2023-12-31 12324813 2022-01-01 2022-12-31 12324813 2023-12-31 12324813 2022-12-31 12324813 c:Director1 2023-01-01 2023-12-31 12324813 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 12324813 d:Buildings d:ShortLeaseholdAssets 2023-12-31 12324813 d:Buildings d:ShortLeaseholdAssets 2022-12-31 12324813 d:PlantMachinery 2023-01-01 2023-12-31 12324813 d:PlantMachinery 2023-12-31 12324813 d:PlantMachinery 2022-12-31 12324813 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12324813 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12324813 d:MotorVehicles 2023-01-01 2023-12-31 12324813 d:MotorVehicles 2023-12-31 12324813 d:MotorVehicles 2022-12-31 12324813 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12324813 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12324813 d:OfficeEquipment 2023-01-01 2023-12-31 12324813 d:OfficeEquipment 2023-12-31 12324813 d:OfficeEquipment 2022-12-31 12324813 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12324813 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12324813 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 12324813 d:OtherPropertyPlantEquipment 2023-12-31 12324813 d:OtherPropertyPlantEquipment 2022-12-31 12324813 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12324813 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12324813 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12324813 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 12324813 d:Goodwill 2023-12-31 12324813 d:Goodwill 2022-12-31 12324813 d:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 12324813 d:CurrentFinancialInstruments 2023-12-31 12324813 d:CurrentFinancialInstruments 2022-12-31 12324813 d:Non-currentFinancialInstruments 2023-12-31 12324813 d:Non-currentFinancialInstruments 2022-12-31 12324813 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12324813 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12324813 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12324813 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12324813 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 12324813 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 12324813 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 12324813 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 12324813 d:ShareCapital 2023-12-31 12324813 d:ShareCapital 2022-12-31 12324813 d:RetainedEarningsAccumulatedLosses 2023-12-31 12324813 d:RetainedEarningsAccumulatedLosses 2022-12-31 12324813 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 12324813 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 12324813 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12324813 c:OrdinaryShareClass1 2023-12-31 12324813 c:OrdinaryShareClass1 2022-12-31 12324813 c:FRS102 2023-01-01 2023-12-31 12324813 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12324813 c:FullAccounts 2023-01-01 2023-12-31 12324813 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12324813 d:WithinOneYear 2023-12-31 12324813 d:WithinOneYear 2022-12-31 12324813 d:BetweenOneFiveYears 2023-12-31 12324813 d:BetweenOneFiveYears 2022-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 12324813 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 12324813 2 2023-01-01 2023-12-31 12324813 d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 12324813 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 12324813 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12324813










WAUX LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
WAUX LTD
REGISTERED NUMBER: 12324813

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible Assets
  
3,600
3,537

Tangible assets
  
47,539
31,457

  
51,139
34,994

Current assets
  

Stocks
 6 
262,695
251,222

Debtors: amounts falling due within one year
 7 
214,834
78,156

Cash at bank and in hand
 8 
63,658
82,398

  
541,187
411,776

Creditors: amounts falling due within one year
 9 
(244,477)
(308,562)

Net current assets
  
 
 
296,710
 
 
103,214

Total assets less current liabilities
  
347,849
138,208

Creditors: amounts falling due after more than one year
 10 
(235,882)
(124,992)

Provisions for liabilities
  

Deferred tax
  
(6,288)
-

  
 
 
(6,288)
 
 
-

Net assets
  
105,679
13,216


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
105,579
13,116

  
105,679
13,216


Page 1

 
WAUX LTD
REGISTERED NUMBER: 12324813

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




K R Cooper
Director

Date: 23 August 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
1.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.6

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.8

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
4
years
Other intangible fixed assets
-
10
years

Page 4

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Land and buildings
-
20%
straight line
Plant and machinery
-
20%
straight line
Motor vehicles
-
25%
straight line
Office equipment
-
33%
straight line
Leasehold improvements
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.10

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.12

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.13

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.14

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


2.


GENERAL INFORMATION

Waux Ltd is a limited company incorporated in England and Wales. The Company's registered office is The Stables, Little Coldharbour Farm, Tong Lane, Lamberhurst, Tunbridge Wells, Kent, TN3 8AD.


3.


EMPLOYEES

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







6
4

Page 6

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


INTANGIBLE ASSETS




Patents
Goodwill
Total

£
£
£



Cost


At 1 January 2023
6,355
30,000
36,355


Additions
1,802
-
1,802



At 31 December 2023

8,157
30,000
38,157



Amortisation


At 1 January 2023
2,818
30,000
32,818


Charge for the year on owned assets
1,739
-
1,739



At 31 December 2023

4,557
30,000
34,557



Net book value



At 31 December 2023
3,600
-
3,600



At 31 December 2022
3,537
-
3,537



Page 7

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


TANGIBLE FIXED ASSETS





Land and buildings
Plant and machinery
Motor vehicles
Office equipment
Leasehold Improvements
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
-
35,388
500
9,034
6,738
51,660


Additions
17,273
12,168
-
2,034
-
31,475


Disposals
-
-
(500)
-
(6,738)
(7,238)



At 31 December 2023

17,273
47,556
-
11,068
-
75,897



Depreciation


At 1 January 2023
-
11,024
281
6,362
2,537
20,204


Charge for the year on owned assets
-
8,507
-
2,465
1,348
12,320


Charge for the year on financed assets
-
-
83
-
-
83


Disposals
-
-
(364)
-
(3,885)
(4,249)



At 31 December 2023

-
19,531
-
8,827
-
28,358



Net book value



At 31 December 2023
17,273
28,025
-
2,241
-
47,539



At 31 December 2022
-
24,364
219
2,672
4,202
31,457




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Short leasehold
17,273
-



6.


STOCKS

2023
2022
£
£

Raw materials and consumables
227,295
247,422

Work in progress
35,400
3,800

262,695
251,222


Page 8

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


DEBTORS

2023
2022
£
£


Trade debtors
88,048
57,848

Other debtors
126,786
15,076

Deferred taxation
-
5,232

214,834
78,156



8.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
63,658
82,398



9.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,648
10,374

Other loans
70,000
170,797

Trade creditors
49,781
72,423

Other taxation and social security
55,524
25,365

Other creditors
58,524
29,603

244,477
308,562



10.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,967
26,091

Other loans
121,014
-

Director's loan account
98,901
98,901

235,882
124,992


Page 9

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,648
10,374

Other loans
70,000
170,797


80,648
181,171

Amounts falling due 1-2 years

Bank loans
10,648
26,091

Other loans
60,000
-


70,648
26,091

Amounts falling due 2-5 years

Bank loans
5,319
-

Other loans
61,014
-


66,333
-


217,629
207,262



12.


DEFERRED TAXATION




2023


£






At beginning of year
5,232


Charged to profit or loss
(11,520)



At end of year
(6,288)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(6,288)
5,232

Page 10

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £100.00
100
100



14.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £776 (2022 - £685) . Contributions totalling £160 (2022 - £141) were payable to the fund at the balance sheet date and are included in creditors.


15.


COMMITMENTS UNDER OPERATING LEASES

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
106,433
-

Later than 1 year and not later than 5 years
445,486
25,876

551,919
25,876


Page 11