8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 70,615 70,615 70,615 2 2 2 xbrli:pure xbrli:shares iso4217:GBP 02327766 2023-04-01 2024-03-31 02327766 2024-03-31 02327766 2023-03-31 02327766 2022-04-01 2023-03-31 02327766 2023-03-31 02327766 2022-03-31 02327766 core:MotorVehicles 2023-04-01 2024-03-31 02327766 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 02327766 bus:Director2 2023-04-01 2024-03-31 02327766 bus:Director4 2023-04-01 2024-03-31 02327766 core:LandBuildings 2023-03-31 02327766 core:PlantMachinery 2023-03-31 02327766 core:MotorVehicles 2023-03-31 02327766 core:LandBuildings 2024-03-31 02327766 core:PlantMachinery 2024-03-31 02327766 core:MotorVehicles 2024-03-31 02327766 core:PlantMachinery 2023-04-01 2024-03-31 02327766 core:WithinOneYear 2024-03-31 02327766 core:WithinOneYear 2023-03-31 02327766 core:AfterOneYear 2024-03-31 02327766 core:AfterOneYear 2023-03-31 02327766 core:ShareCapital 2024-03-31 02327766 core:ShareCapital 2023-03-31 02327766 core:SharePremium 2024-03-31 02327766 core:SharePremium 2023-03-31 02327766 core:RevaluationReserve 2023-03-31 02327766 core:RetainedEarningsAccumulatedLosses 2024-03-31 02327766 core:RetainedEarningsAccumulatedLosses 2023-03-31 02327766 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 02327766 core:Non-currentFinancialInstruments 2024-03-31 02327766 core:Non-currentFinancialInstruments 2023-03-31 02327766 core:LandBuildings 2023-03-31 02327766 core:PlantMachinery 2023-03-31 02327766 core:MotorVehicles 2023-03-31 02327766 bus:SmallEntities 2023-04-01 2024-03-31 02327766 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02327766 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02327766 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02327766 bus:FullAccounts 2023-04-01 2024-03-31 02327766 bus:OrdinaryShareClass1 2024-03-31 02327766 bus:OrdinaryShareClass1 2023-03-31 02327766 core:IntangibleAssetsOtherThanGoodwill 2023-03-31 02327766 core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 02327766 core:InvestmentPropertyIncludedWithinPPE 2023-03-31 02327766 core:InvestmentPropertyIncludedWithinPPE 2024-03-31 02327766 core:AfterOneYear 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 02327766
Wayware Limited
Unaudited financial statements
31 March 2024
Wayware Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
70,615
Tangible assets
6
9,625,942
9,700,368
Investments
7
2
2
-----------
-----------
9,625,944
9,770,985
Current assets
Stocks
300,467
310,998
Debtors
8
170,594
231,285
Cash at bank and in hand
301,590
114,169
---------
---------
772,651
656,452
Creditors: amounts falling due within one year
9
( 5,450,087)
( 4,137,100)
-----------
-----------
Net current liabilities
( 4,677,436)
( 3,480,648)
-----------
-----------
Total assets less current liabilities
4,948,508
6,290,337
Creditors: amounts falling due after more than one year
10
( 139,650)
( 1,525,909)
Provisions
Taxation including deferred tax
( 36,556)
( 29,741)
-----------
-----------
Net assets
4,772,302
4,734,687
-----------
-----------
Capital and reserves
Called up share capital
11
13,000
13,000
Share premium account
3,397,500
3,397,500
Revaluation reserve
36,161
Profit and loss account
1,361,802
1,288,026
-----------
-----------
Shareholders funds
4,772,302
4,734,687
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Wayware Limited
Statement of financial position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
Mrs P A M Peal
Mr J C K Sladden
Director
Director
Company registration number: 02327766
Wayware Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Southrepps Hall, Southrepps, Norfolk, NR11 8TG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the profit or loss.
Turnover
The turnover shown in the profit and loss account represents the amount of goods and services provided during the year, exclusive of Value Added Tax. Turnover is recognised when the goods are physically delivered or the services are actually provided to the customer.
Deferred taxation
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessorare charge against profits on a straight line basis over the period of the lease.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Tractors, machinery and equipment
-
10% to 33% reducing balance
Motor vehicles
-
25% reducing balance
Freehold land is not depreciated .
Valuation
Commodity stocks and cultivations are valued at the lower of cost and net realisable value by the directors after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Staff costs
The average number of employees during the year was 8 (2023: 6 ).
5. Intangible assets
Entitlements
£
Cost
At 1 April 2023
70,615
Additions
Disposals
( 70,615)
-------
At 31 March 2024
-------
Amortisation
At 1 April 2023 and 31 March 2024
-------
Carrying amount
At 31 March 2024
-------
At 31 March 2023
70,615
-------
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Investment property
Total
£
£
£
£
£
Cost
At 1 April 2023
7,937,546
1,885,274
32,026
796,838
10,651,684
Additions
49,616
49,616
-----------
-----------
-------
---------
------------
At 31 March 2024
7,937,546
1,934,890
32,026
796,838
10,701,300
-----------
-----------
-------
---------
------------
Depreciation
At 1 April 2023
935,002
16,314
951,316
Charge for the year
120,113
3,929
124,042
-----------
-----------
-------
---------
------------
At 31 March 2024
1,055,115
20,243
1,075,358
-----------
-----------
-------
---------
------------
Carrying amount
At 31 March 2024
7,937,546
879,775
11,783
796,838
9,625,942
-----------
-----------
-------
---------
------------
At 31 March 2023
7,937,546
950,272
15,712
796,838
9,700,368
-----------
-----------
-------
---------
------------
7. Investments
Total
£
Cost
At 1 April 2023 and 31 March 2024
2
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
2
----
At 31 March 2023
2
----
8. Debtors
2024
2023
£
£
Trade debtors
121,282
169,678
Other debtors
49,312
61,607
---------
---------
170,594
231,285
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
865,439
300,000
Trade creditors
142,308
158,039
Social security and other taxes
4,775
4,088
Iceni (Anglia) Limited
33,301
33,301
Other creditors
4,404,264
3,641,672
-----------
-----------
5,450,087
4,137,100
-----------
-----------
Included in creditors falling due within one year are bank loans and overdrafts of £865,439 (2023 -£300,000) and hire purchases agreements of £156,819 (2023 - £154,718) secured by the company.
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
1,229,440
Other creditors
139,650
296,469
---------
-----------
139,650
1,525,909
---------
-----------
Included in creditors falling due after more than one year are bank loans and overdrafts of £nil (2023 - £1,229,440) and hire purchase agreements of £139,650 (2023 - £296,469) secured by the company.
11. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
13,000
13,000
13,000
13,000
-------
-------
-------
-------
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
13,000
13,000
13,000
13,000
-------
-------
-------
-------