Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Amos Simantov 01/12/2017 15 October 2024 The principal activity of Way2Vat UK Limited is sales & marketing services for VAT recovery and compliance for businesses in the UK and EU. 11091096 2023-12-31 11091096 bus:Director1 2023-12-31 11091096 core:CurrentFinancialInstruments 2023-12-31 11091096 core:CurrentFinancialInstruments 2022-12-31 11091096 2022-12-31 11091096 core:ShareCapital 2023-12-31 11091096 core:ShareCapital 2022-12-31 11091096 core:FurtherSpecificReserve2ComponentTotalEquity 2023-12-31 11091096 core:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 11091096 core:RetainedEarningsAccumulatedLosses 2023-12-31 11091096 core:RetainedEarningsAccumulatedLosses 2022-12-31 11091096 core:OtherPropertyPlantEquipment 2022-12-31 11091096 core:OtherPropertyPlantEquipment 2023-12-31 11091096 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 11091096 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 11091096 bus:OrdinaryShareClass1 2023-12-31 11091096 2023-01-01 2023-12-31 11091096 bus:FilletedAccounts 2023-01-01 2023-12-31 11091096 bus:SmallEntities 2023-01-01 2023-12-31 11091096 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11091096 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11091096 bus:Director1 2023-01-01 2023-12-31 11091096 2022-01-01 2022-12-31 11091096 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 11091096 core:OtherPropertyPlantEquipment 1 2023-01-01 2023-12-31 11091096 1 2023-01-01 2023-12-31 11091096 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11091096 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11091096 (England and Wales)

WAY2VAT UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

WAY2VAT UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WAY2VAT UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
WAY2VAT UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Current assets
Debtors 4 1,159,999 1,156,225
Cash at bank and in hand 5 11,475 17,453
1,171,474 1,173,678
Creditors: amounts falling due within one year 6 ( 1,102,216) ( 1,118,412)
Net current assets 69,258 55,266
Total assets less current liabilities 69,258 55,266
Net assets 69,258 55,266
Capital and reserves
Called-up share capital 7 1 1
Equity reserve 27,726 28,669
Profit and loss account 41,531 26,596
Total shareholder's funds 69,258 55,266

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 financial statements of WAY2VAT UK Limited (registered number: 11091096) were approved and authorised for issue by the Director. They were signed on its behalf by:

Amos Simantov
Director

15 October 2024

WAY2VAT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WAY2VAT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

WAY2VAT UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 4 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 14,923 14,923
Disposals ( 14,923) ( 14,923)
0 0
At 31 December 2023 0 0
Accumulated depreciation
At 01 January 2023 14,923 14,923
Disposals ( 14,923) ( 14,923)
At 31 December 2023 0 0
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Debtors

2023 2022
£ £
Trade debtors 239,301 115,851
Other debtors 920,698 1,040,374
1,159,999 1,156,225

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 11,475 17,453

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 36,871 24,854
Amounts owed to parent undertakings 50,730 453,302
Taxation and social security 33,494 10,609
Other creditors 981,121 629,647
1,102,216 1,118,412

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,285 1,195

9. Related party transactions

At the balance sheet date £50,730 ( 2022 - £455,302) was owed to the parent company.

10. Ultimate controlling party

Parent Company:

Way 2 VAT Ltd
3 Tozeret Haaretz Street
Petah Tikva
Israel
4951703