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Company registration number: 09255326
Wickway Performance Services Ltd
Unaudited filleted financial statements
31 March 2024
Wickway Performance Services Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Wickway Performance Services Ltd
Directors and other information
Director P Brown
Company number 09255326
Registered office Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Wickway Performance Services Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Wickway Performance Services Ltd
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wickway Performance Services Ltd for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Wickway Performance Services Ltd, as a body, in accordance with the terms of our engagement letter dated 14 December 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Wickway Performance Services Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wickway Performance Services Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Wickway Performance Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wickway Performance Services Ltd. You consider that Wickway Performance Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Wickway Performance Services Ltd. 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 statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
28 August 2024
Wickway Performance Services Ltd
Statement of financial position
31 March 2024
31/03/24 31/03/23
Note £ £ £ £
Fixed assets
Tangible assets 5 238 297
_______ _______
238 297
Current assets
Stocks 4,674 4,669
Debtors 6 611 449
Cash at bank and in hand 4,649 4,471
_______ _______
9,934 9,589
Creditors: amounts falling due
within one year 7 ( 5,022) ( 6,912)
_______ _______
Net current assets 4,912 2,677
_______ _______
Total assets less current liabilities 5,150 2,974
_______ _______
Net assets 5,150 2,974
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 5,148 2,972
_______ _______
Shareholders funds 5,150 2,974
_______ _______
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.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
P Brown
Director
Company registration number: 09255326
Wickway Performance Services Ltd
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Computer equipment - 33.3 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised retrospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery Computer equipment Total
£ £ £
Cost
At 1 April 2023 and 31 March 2024 1,513 2,384 3,897
_______ _______ _______
Depreciation
At 1 April 2023 1,217 2,383 3,600
Charge for the year 59 - 59
_______ _______ _______
At 31 March 2024 1,276 2,383 3,659
_______ _______ _______
Carrying amount
At 31 March 2024 237 1 238
_______ _______ _______
At 31 March 2023 296 1 297
_______ _______ _______
6. Debtors
31/03/24 31/03/23
£ £
Trade debtors 611 449
_______ _______
7. Creditors: amounts falling due within one year
31/03/24 31/03/23
£ £
Corporation tax 900 1,163
Other creditors 4,122 5,749
_______ _______
5,022 6,912
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Year ended 31/03/24
Balance brought forward Amounts repaid Balance o/standing
£ £ £
P Brown ( 5,364) 1,242 ( 4,122)
_______ _______ _______
Period ended 31/03/23
Balance brought forward Amounts repaid Balance o/standing
£ £ £
P Brown ( 8,959) 3,595 ( 5,364)
_______ _______ _______