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Reports Dated : 10/09/2024 Registered Number: 06465146
England and Wales

 

 

 

WHIZ SOLUTIONS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director Nileshkumar Jagjivanbhai Patel
Registered Number 06465146
Registered Office Suite 32 Winsor & Newton Building
Whitefriars Avenue
Harrow
HA3 5RN
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 January 2024
Principal activities
Principal activity of the company during the financial year was of Information technology consultancy activities.
Director
The director who served the company throughout the year was as follows:
Nileshkumar Jagjivanbhai Patel
Statement of director's responsibilities
The director is responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Nileshkumar Jagjivanbhai Patel
Director

Date approved: 10 September 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Investments 4 263,716    263,716 
263,716    263,716 
Current assets      
Debtors 5 39,366    118,336 
Cash at bank and in hand 515    10,779 
39,881    129,115 
Creditors: amount falling due within one year 6 (92,898)   (171,703)
Net current assets (53,017)   (42,588)
 
Total assets less current liabilities 210,699    221,128 
Creditors: amount falling due after more than one year 7 (25,002)   (34,615)
Net assets 185,697    186,513 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 185,696    186,512 
Shareholders' funds 185,697    186,513 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 10 September 2024 and were signed by:


-------------------------------
Nileshkumar Jagjivanbhai Patel
Director
3
General Information
Whiz Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 06465146, registration address Suite 32 Winsor & Newton Building, Whitefriars Avenue, Harrow, HA3 5RN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.33% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 February 2023 425    425 
Additions  
Disposals  
At 31 January 2024 425    425 
Depreciation
At 01 February 2023 425    425 
Charge for year  
On disposals  
At 31 January 2024 425    425 
Net book values
Closing balance as at 31 January 2024  
Opening balance as at 01 February 2023  


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 February 2023 263,716    263,716 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 January 2024 263,716    263,716 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 11,614    27,086 
Prepayments & Accrued Income 28   
Other Debtors 27,724    91,250 
39,366    118,336 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 75,181    150,853 
Bank Loans & Overdrafts (Secured) 9,885    5,786 
PAYE & Social Security 7,832    1,259 
Accrued Expenses   225 
Wages & Salaries Control Account   2,902 
VAT   10,678 
92,898    171,703 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 25,002    34,615 
25,002    34,615 

8.

Director’s loan

Overdrawn

At the yearend, the director owed £9,716 to the company. the balance was repaid on 31 May 2024.
4