Registration number:
W2E Development Ltd
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 |
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Intangible assets |
|
|
|
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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 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
......................................... |
W2E Development Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Intangible assets |
Development costs |
Total |
|
Cost or valuation |
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At 1 March 2023 |
|
|
Additions internally developed |
|
|
At 29 February 2024 |
|
|
Amortisation |
||
At 1 March 2023 |
|
|
Amortisation charge |
|
|
At 29 February 2024 |
|
|
Carrying amount |
||
At 29 February 2024 |
|
|
At 28 February 2023 |
|
|
Debtors |
Current |
2024 |
2023 |
Other debtors |
|
- |
|
- |
W2E Development Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Trade creditors |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
500 |
|
400 |