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REGISTERED NUMBER: 05094370 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WASP SOFTWARE LIMITED

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WASP SOFTWARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M G Brett
J P Brock
S Goodinson





REGISTERED OFFICE: Pear Tree House
Birch Cross
Marchington
Uttoxeter
Staffordshire
ST14 8NU





REGISTERED NUMBER: 05094370 (England and Wales)





ACCOUNTANTS: Bradley Accounting Plus Ltd
41 St John Street
Ashbourne
Derbyshire
DE6 1GP

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 24,304 31,425
24,304 31,425

CURRENT ASSETS
Debtors 6 324,735 232,283
Prepayments and accrued income 2,437 2,361
Cash at bank 65,671 266,973
392,843 501,617
CREDITORS
Amounts falling due within one year 7 80,540 53,298
NET CURRENT ASSETS 312,303 448,319
TOTAL ASSETS LESS CURRENT
LIABILITIES

336,607

479,744

CREDITORS
Amounts falling due after more than one
year

8

-

(2,405

)

PROVISIONS FOR LIABILITIES 9 (328 ) (1,145 )

ACCRUALS AND DEFERRED INCOME (226,549 ) (187,361 )
NET ASSETS 109,730 288,833

CAPITAL AND RESERVES
Called up share capital 175 175
Retained earnings 109,555 288,658
SHAREHOLDERS' FUNDS 109,730 288,833

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





M G Brett - Director


WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Wasp Software Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Software licences are allocated with an order and are invoiced in advance. Project service revenues follow user acceptance testing with annual support and maintenance being allocated within the financial year the service is provided.

Intangible assets - other
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Intangible assets are amortised on a straight-line bias over their useful lives. The useful lives of intangible assets are as follows

Development expenditure 3 years
Computer software 3 years

Provision is made for any impairment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office - 10% on cost
Office equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Software
development
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Office
Office equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 28,220 14,866 43,086
DEPRECIATION
At 1 April 2023 2,822 8,839 11,661
Charge for year 2,822 4,299 7,121
At 31 March 2024 5,644 13,138 18,782
NET BOOK VALUE
At 31 March 2024 22,576 1,728 24,304
At 31 March 2023 25,398 6,027 31,425

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Office
equipment
£   
COST
At 1 April 2023
and 31 March 2024 7,196
DEPRECIATION
At 1 April 2023 4,798
Charge for year 2,398
At 31 March 2024 7,196
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 2,398

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 294,600 191,665
Other debtors 600 2,100
Research & Development Credit 29,248 38,518
Tax 287 -
324,735 232,283

WASP SOFTWARE LIMITED (REGISTERED NUMBER: 05094370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,405 2,398
Trade creditors 6,115 4,660
Tax - 4,463
Social security and other taxes 9,287 9,539
VAT 53,122 27,724
Directors' current accounts 9,611 4,514
80,540 53,298

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 2,405

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 328 1,145

Deferred
tax
£   
Balance at 1 April 2023 1,145
Accelerated capital allowances (817 )
Balance at 31 March 2024 328