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Registered Number: NI675734
Northern Ireland

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 31 January 2024

for

W8LAND LTD

 
 
 
£
2024
£
   
£
2023
£
Fixed assets 7,007  8,760 
Current assets 66,238  141,173 
Creditors: amount falling due within one year (133,718) (213,045)
Net current assets (67,480) (71,872)
Total assets less current liabilities (60,473) (63,112)
Net assets (60,473) (63,112)
 
Capital and reserves (60,473) (63,112)
 
  1. For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Ronan Mcgrory
Director

Date approved: 10 October 2024
1
Statutory Information
W8LAND LTD is a private limited company, limited by shares, domiciled in Northern Ireland, registration number NI675734, registration address 8c Ballougry Road, Londonderry, BT48 9XJ, Northern Ireland.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery20% Reducing Balance
Motor Vehicles20% Reducing Balance
Computer Equipment20% Reducing Balance
Office Equipment20% Reducing Balance
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 5 years.
2.

Intangible fixed assets

Cost or Valuation Computer software   Total
  £   £
At 01 February 2023 870    870 
Additions  
Disposals  
At 31 January 2024 870    870 
Amortisation
At 01 February 2023 313    313 
Charge for year 112    112 
On disposals  
At 31 January 2024 425    425 
Net book values
At 31 January 2024 445    445 
At 31 January 2023 557    557 

3.

Tangible fixed assets

Cost or Valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Office Equipment   Total
  £   £   £   £   £
At 01 February 2023 549    10,995    775    499    12,818 
Additions        
Disposals        
At 31 January 2024 549    10,995    775    499    12,818 
Depreciation
At 01 February 2023 198    3,958    279    180    4,615 
Charge for year 70    1,408    99    64    1,641 
On disposals        
At 31 January 2024 268    5,366    378    244    6,256 
Net book values
Closing balance as at 31 January 2024 281    5,629    397    255    6,562 
Opening balance as at 01 February 2023 351    7,037    496    319    8,203 

4.

Average number of employees

Average number of employees during the year was 0  (2023: 0).
2