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Company Registration No. 13498267 (England and Wales)
Witine Limited Unaudited accounts for the year ended 31 December 2023
Witine Limited Unaudited accounts Contents
Page
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Witine Limited Company Information for the year ended 31 December 2023
Director
Andrew Xiang Ying
Company Number
13498267 (England and Wales)
Registered Office
St John's Innovation Centre Cowley Road Cambridge CB4 0WS United Kingdom
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Witine Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
13,753 
11,220 
Tangible assets
5,275 
6,405 
Investments
437 
- 
19,465 
17,625 
Current assets
Debtors
2,773 
3,986 
Cash at bank and in hand
2,554 
2,071 
5,327 
6,057 
Creditors: amounts falling due within one year
(1,806)
(3,833)
Net current assets
3,521 
2,224 
Total assets less current liabilities
22,986 
19,849 
Creditors: amounts falling due after more than one year
(61,381)
(29,632)
Net liabilities
(38,395)
(9,783)
Capital and reserves
Called up share capital
7,510 
10 
Profit and loss account
(45,905)
(9,793)
Shareholders' funds
(38,395)
(9,783)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 September 2024 and were signed on its behalf by
Andrew Xiang Ying Director Company Registration No. 13498267
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Witine Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Witine Limited is a private company, limited by shares, registered in England and Wales, registration number 13498267. The registered office is St John's Innovation Centre, Cowley Road , Cambridge, CB4 0WS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The Company's sole director, to whom a liability of £61,381 is due, has provided assurance that they would not sought repayment of the loan within the next 12 months. On this basis, management has determined that it is appropriate to prepare the financial reporting on a going concern basis.
Presentation currency
The accounts are presented in pound sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
3 years
Computer equipment
3 years
Other tangible fixed assets
3 years
Intangible fixed assets
IP numbering resources are included at the fair value of the asset by reference to the active market. All other intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation has been provided in order to write off the assets over their estimated useful lives of 10 years.
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Witine Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Total 
£ 
Cost
At 1 January 2023
11,280 
Additions
6,953 
Revaluations
(4,360)
At 31 December 2023
13,873 
Amortisation
At 1 January 2023
60 
Charge for the year
60 
At 31 December 2023
120 
Net book value
At 31 December 2023
13,753 
At 31 December 2022
11,220 
IP numbering resources were revalued at the end of the year. This was carried out by Andrew Ying using the average sale price for IP numbering resources of identical size in the month immediately preceeding the end of the year. The comparable amount determined according to the historical cost accounting rules was £14,434.
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
9,610 
Additions
3,113 
At 31 December 2023
12,723 
Depreciation
At 1 January 2023
3,205 
Charge for the year
4,243 
At 31 December 2023
7,448 
Net book value
At 31 December 2023
5,275 
At 31 December 2022
6,405 
6
Transactions with related parties
An unsecured interest-free loan made by a director to the company was outstanding during the year. The amount of the liability to the director at the beginning of the year was £29,632, the maximum during the year was £61,381 and at the end of the year was £61,381. During the year £8 of the loan was repaid, £0 of the loan was written off and £0 of the loan was waived.
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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