3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 9,173 9,173 xbrli:pure xbrli:shares iso4217:GBP 10305400 2023-04-01 2024-03-31 10305400 2024-03-31 10305400 2023-03-31 10305400 2022-04-01 2023-03-31 10305400 2023-03-31 10305400 2022-03-31 10305400 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 10305400 core:PlantMachinery 2023-04-01 2024-03-31 10305400 bus:Director1 2023-04-01 2024-03-31 10305400 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 10305400 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 10305400 core:PlantMachinery 2024-03-31 10305400 core:WithinOneYear 2024-03-31 10305400 core:WithinOneYear 2023-03-31 10305400 core:ShareCapital 2024-03-31 10305400 core:ShareCapital 2023-03-31 10305400 core:RetainedEarningsAccumulatedLosses 2024-03-31 10305400 core:RetainedEarningsAccumulatedLosses 2023-03-31 10305400 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 10305400 bus:SmallEntities 2023-04-01 2024-03-31 10305400 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10305400 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10305400 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10305400 bus:FullAccounts 2023-04-01 2024-03-31 10305400 core:ComputerSoftware 2023-03-31 10305400 core:ComputerSoftware 2024-03-31 10305400 core:ComputerSoftware 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 10305400
WHEELIE KLIPS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
WHEELIE KLIPS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
432
408
CURRENT ASSETS
Stocks
12,124
13,488
Debtors
7
466
676
Cash at bank and in hand
2,493
543
--------
--------
15,083
14,707
CREDITORS: amounts falling due within one year
8
119,778
116,402
---------
---------
NET CURRENT LIABILITIES
104,695
101,695
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 104,263)
( 101,287)
---------
---------
NET LIABILITIES
( 104,263)
( 101,287)
---------
---------
CAPITAL AND RESERVES
Called up share capital
200
200
Profit and loss account
( 104,463)
( 101,487)
---------
---------
SHAREHOLDERS DEFICIT
( 104,263)
( 101,287)
---------
---------
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.
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WHEELIE KLIPS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 8 August 2024 , and are signed on behalf of the board by:
Mr M Deacon
Director
Company registration number: 10305400
WHEELIE KLIPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in UK. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the directors. On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
20% straight line
Website
-
33 1/3% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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% straight line
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 stock to its present location and condition.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. INTANGIBLE ASSETS
Patents, trademarks and licences
Website
Total
£
£
£
Cost
At 1 April 2023
3,364
4,653
8,017
Additions
Additions from internal developments
200
200
-------
-------
-------
At 31 March 2024
3,564
4,653
8,217
-------
-------
-------
Amortisation
At 1 April 2023
2,956
4,653
7,609
Charge for the year
176
176
-------
-------
-------
At 31 March 2024
3,132
4,653
7,785
-------
-------
-------
Carrying amount
At 31 March 2024
432
432
-------
-------
-------
At 31 March 2023
408
408
-------
-------
-------
6. TANGIBLE ASSETS
Plant and machinery
£
Cost
At 1 April 2023 and 31 March 2024
9,173
-------
Depreciation
At 1 April 2023 and 31 March 2024
9,173
-------
Carrying amount
At 31 March 2024
-------
At 31 March 2023
-------
7. DEBTORS
2024
2023
£
£
Trade debtors
466
506
Other debtors
170
----
----
466
676
----
----
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
162
Social security and other taxes
279
Other creditors
119,337
116,402
---------
---------
119,778
116,402
---------
---------
9. GOING CONCERN
The directors have considered the period to 31 August 2025 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy it's liabilities as these become payable, or alternatively will be sold as a going concern.