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Registration number: 06041389

W8Data Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

W8Data Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

W8Data Limited

Company Information

Director

WD Anthes

Company secretary

CD Bielckus

Registered office

5A The Gardens
Fareham
Hampshire
PO16 8SS

Accountants

Avenue Business Services
Accountants
5A The Gardens
Fareham
Hampshire
PO16 8SS

 

W8Data Limited

(Registration number: 06041389)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,120

34,058

Current assets

 

Debtors

5

129,833

158,701

Cash at bank and in hand

 

117,443

148,694

 

247,276

307,395

Creditors: Amounts falling due within one year

6

(85,439)

(118,257)

Net current assets

 

161,837

189,138

Total assets less current liabilities

 

184,957

223,196

Provisions for liabilities

(4,400)

(6,478)

Net assets

 

180,557

216,718

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

180,457

216,618

Shareholders' funds

 

180,557

216,718

For the financial 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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 September 2024
 

.........................................
WD Anthes
Director

 

W8Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5A The Gardens
Fareham
Hampshire
PO16 8SS

The principal place of business is:
Unit 10
Hedge End Business Centre
Botley Road
Hedge End
Southampton
SO30 2AU

These financial statements were authorised for issue by the director on 23 September 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

W8Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Fixtures and equipment

36 months straight line for electronic equipment or 15% reducing balance

Website

36 months 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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

W8Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 the director) during the year, was 7 (2022 - 6).

 

W8Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

53,092

39,101

92,193

Additions

3,990

-

3,990

At 31 December 2023

57,082

39,101

96,183

Depreciation

At 1 January 2023

41,070

17,065

58,135

Charge for the year

6,768

8,160

14,928

At 31 December 2023

47,838

25,225

73,063

Carrying amount

At 31 December 2023

9,244

13,876

23,120

At 31 December 2022

12,022

22,036

34,058

5

Debtors

Current

2023
£

2022
£

Trade debtors

100,565

130,579

Prepayments

16,689

20,367

Other debtors

12,579

7,755

 

129,833

158,701

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

28,019

26,655

Taxation and social security

45,701

74,526

Accruals and deferred income

1,687

2,316

Other creditors

10,032

14,760

85,439

118,257

 

W8Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

-

12,000

Later than one year and not later than five years

13,500

-

13,500

12,000

9

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £378.00 per each ordinary share

37,800

37,800

 

 

10

Related party transactions

Transactions with the director

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

57,027

56,175

Contributions paid to money purchase schemes

19,967

21,721

76,994

77,896

 

W8Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

During the year the number of directors who were receiving benefits and share incentives was as follows:

2023
No.

2022
No.

Accruing benefits under money purchase pension scheme

1

1

Dividends paid to the director

2023
£

2022
£

WD Anthes

Ordinary dividends paid

18,900

18,900