REGISTERED NUMBER: |
Director's Report and |
Unaudited Financial Statements for the Year Ended 31st December 2023 |
for |
White Key Apps Limited |
REGISTERED NUMBER: |
Director's Report and |
Unaudited Financial Statements for the Year Ended 31st December 2023 |
for |
White Key Apps Limited |
White Key Apps Limited (Registered number: 09826727) |
Contents of the Financial Statements |
for the year ended 31st December 2023 |
Page |
Company Information | 1 |
Director's Report | 2 |
Statement of Income and Retained Earnings | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 6 |
White Key Apps Limited |
Company Information |
for the year ended 31st December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
White Key Apps Limited (Registered number: 09826727) |
Director's Report |
for the year ended 31st December 2023 |
The director presents his report with the financial statements of the company for the year ended 31st December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of business and domestic software development. |
DIRECTOR |
GOING CONCERN |
The director has considered the appropriateness of adopting the going concern basis in preparation of these financial statements. The financial statements have been prepared on the going concern basis, even though the company has net current liabilities, as financial support has been provided by the shareholders and they have confirmed that this support will be available for twelve months from the date of approval of the financial statements. |
Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
APPROVED AND SIGNED ON BEHALF OF THE BOARD: |
White Key Apps Limited (Registered number: 09826727) |
Statement of Income and |
Retained Earnings |
for the year ended 31st December 2023 |
2023 | 2022 |
£ | £ |
TURNOVER |
Cost of sales | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT |
Interest payable and similar expenses | ( |
) | ( |
) |
PROFIT BEFORE TAXATION |
Tax on profit | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
Retained earnings at beginning of year |
RETAINED EARNINGS AT END OF YEAR |
White Key Apps Limited (Registered number: 09826727) |
Statement of Financial Position |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
White Key Apps Limited (Registered number: 09826727) |
Statement of Financial Position - continued |
31st December 2023 |
The financial statements were approved by the director and authorised for issue on |
White Key Apps Limited (Registered number: 09826727) |
Notes to the Financial Statements |
for the year ended 31st December 2023 |
1. | STATUTORY INFORMATION |
White Key Apps Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The director has considered the appropriateness of adopting the going concern basis in preparation of these financial statements. The financial statements have been prepared on the going concern basis, even though the company has net current liabilities, as financial support has been provided by the shareholders and they have confirmed that this support will be available for twelve months from the date of approval of the financial statements. |
Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about White Key Apps Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
White Key Apps Limited (Registered number: 09826727) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Financial assets |
Financial assets including trade debtors, are initially recognised at transaction cost which is considered to be fair value and subsequently held at amortised cost. At each statement of financial position date, the company assesses whether there is objective evidence that a financial asset has become impaired. Impairment losses are recorded as charges in the income statement and the carrying amount of the financial asset is reduced by establishing an impairment loss provision. Impairment loss provisions are maintained at the level that management deems sufficient to absorb incurred losses. Financial assets are subsequently carried at transaction cost less provision for impairment. |
Financial liabilities |
Financial liabilities are presented as such in the statement of financial position. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Finance costs and gains or losses relating to financial liabilities are included in the income statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Dividends and distributions relating to equity instruments are debited directly to equity. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company makes contributions to employees' personal pension schemes which are defined contribution schemes. The annual contributions payable are charged to the income statement. |
White Key Apps Limited (Registered number: 09826727) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investments |
A subsidiary is an undertaking over which the company exercises control, directly or indirectly, over the financial and operating activities so as to obtain benefits from it. |
In the company's statement of financial position investments in subsidiaries are recorded at cost, unless their value has been impaired in which case they are valued at the lower of net realisable value or value in use as appropriate. |
Other investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1st January 2023 |
and 31st December 2023 | 1,005,065 |
NET BOOK VALUE |
At 31st December 2023 | 1,005,065 |
At 31st December 2022 | 1,005,065 |
Details of group undertakings: |
Group undertaking | Country of incorporation | % owned | Nature of business |
Crashpal Apps Limited | England & Wales | 65 | No trade in 2023 |
White Key Apps Limited (Registered number: 09826727) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | ULTIMATE CONTROLLING PARTY |