WA1 Technology Limited 09432924 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is IT consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 09432924 2023-03-01 2024-02-29 09432924 2024-02-29 09432924 core:CurrentFinancialInstruments 2024-02-29 09432924 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09432924 core:LandBuildings core:ShortLeaseholdAssets 2024-02-29 09432924 core:OfficeEquipment 2024-02-29 09432924 bus:SmallEntities 2023-03-01 2024-02-29 09432924 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09432924 bus:FullAccounts 2023-03-01 2024-02-29 09432924 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09432924 bus:RegisteredOffice 2023-03-01 2024-02-29 09432924 bus:Director1 2023-03-01 2024-02-29 09432924 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09432924 core:LandBuildings core:ShortLeaseholdAssets 2023-03-01 2024-02-29 09432924 core:OfficeEquipment 2023-03-01 2024-02-29 09432924 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 09432924 countries:EnglandWales 2023-03-01 2024-02-29 09432924 2023-02-28 09432924 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 09432924 core:OfficeEquipment 2023-02-28 09432924 2022-03-01 2023-02-28 09432924 2023-02-28 09432924 core:CurrentFinancialInstruments 2023-02-28 09432924 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09432924 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 09432924 core:OfficeEquipment 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 09432924

WA1 Technology Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

WA1 Technology Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

WA1 Technology Limited

(Registration number: 09432924)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,211

7,777

Current assets

 

Debtors

5

554

1,221

Cash at bank and in hand

 

55,665

43,439

 

56,219

44,660

Creditors: Amounts falling due within one year

6

(9,436)

(2,503)

Net current assets

 

46,783

42,157

Net assets

 

52,994

49,934

Capital and reserves

 

Called up share capital

2

2

Retained earnings

52,992

49,932

Shareholders' funds

 

52,994

49,934

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 11 September 2024 and signed on its behalf by:
 

.........................................
B A M Doniger-James
Director

 

WA1 Technology Limited

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of IT consultancy in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

WA1 Technology Limited

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

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

Property improvements

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

WA1 Technology Limited

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

4

Tangible assets

Property improvements
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

7,576

8,030

15,606

At 29 February 2024

7,576

8,030

15,606

Depreciation

At 1 March 2023

3,032

4,797

7,829

Charge for the year

758

808

1,566

At 29 February 2024

3,790

5,605

9,395

Carrying amount

At 29 February 2024

3,786

2,425

6,211

At 28 February 2023

4,544

3,233

7,777

5

Debtors

Current

2024
£

2023
£

Trade debtors

554

878

Other debtors

-

343

 

554

1,221

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,413

-

Other creditors

3,023

2,503

9,436

2,503

 

WA1 Technology Limited

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

7

Related party transactions

Other transactions with directors

B Doniger-James had a loan with the company. At the balance sheet date the amount due to B Doniger-James was £2,768 (2023: £2,249).