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Registration number: 12443202

W2E Development Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

W2E Development Ltd

(Registration number: 12443202)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

154,418

141,555

Current assets

 

Debtors

5

10,414

-

Cash at bank and in hand

 

28,612

13,839

 

39,026

13,839

Creditors: Amounts falling due within one year

6

(4,477)

(2,500)

Net current assets

 

34,549

11,339

Net assets

 

188,967

152,894

Capital and reserves

 

Called up share capital

7

500

400

Share premium reserve

249,500

199,600

Retained earnings

(61,033)

(47,106)

Shareholders' funds

 

188,967

152,894

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 July 2024 and signed on its behalf by:
 

.........................................
H K Tayton-Martin
Director

 

W2E Development Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office 9
Dalton House
60 Windsor Avenue
London
SW19 2RR
United Kingdom

These financial statements were authorised for issue by the Board on 12 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Development costs

Development costs in respect of projects which have been assessed as technically and commercially feasible are capitalised as fixed assets. Development costs are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

10% straight line

 

W2E Development Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 0 (2023 - 0).

4

Intangible assets

Development costs
 £

Total
£

Cost or valuation

At 1 March 2023

184,428

184,428

Additions internally developed

34,784

34,784

At 29 February 2024

219,212

219,212

Amortisation

At 1 March 2023

42,873

42,873

Amortisation charge

21,921

21,921

At 29 February 2024

64,794

64,794

Carrying amount

At 29 February 2024

154,418

154,418

At 28 February 2023

141,555

141,555

5

Debtors

Current

2024
£

2023
£

Other debtors

10,414

-

 

10,414

-

 

W2E Development Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,296

1,500

Accruals and deferred income

1,080

900

Other creditors

101

100

4,477

2,500

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

500

500

400

400