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Registered number: 06793693
Warehouse Control Solutions Limited
Financial Statements
For The Year Ended 31 March 2024
Cound & Co LLP
Chartered Accountants
1 Princes Court Royal Way
Loughborough
LE11 5XR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06793693
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,133 35,691
19,133 35,691
CURRENT ASSETS
Debtors 5 253,128 433,448
Cash at bank and in hand 437,837 396,841
690,965 830,289
Creditors: Amounts Falling Due Within One Year 6 (217,183 ) (379,316 )
NET CURRENT ASSETS (LIABILITIES) 473,782 450,973
TOTAL ASSETS LESS CURRENT LIABILITIES 492,915 486,664
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,635 ) (6,781 )
NET ASSETS 489,280 479,883
CAPITAL AND RESERVES
Called up share capital 7 51 51
Share premium account 44,955 44,955
Capital redemption reserve 49 49
Profit and Loss Account 444,225 434,828
SHAREHOLDERS' FUNDS 489,280 479,883
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D A Horne
Director
21st October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Warehouse Control Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06793693 . The registered office is 7 Loughborough Technology Centre, Epinal Way, Loughborough, Leicestershire, LE11 3GE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 33.3% of cost
Computer Equipment 33.3% of cost
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was  16 (2023: 15)
16 15
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 134,271
As at 31 March 2024 134,271
Depreciation
As at 1 April 2023 98,580
Provided during the period 16,558
As at 31 March 2024 115,138
Net Book Value
As at 31 March 2024 19,133
As at 1 April 2023 35,691
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 207,000 393,043
Prepayments and accrued income 40,053 34,330
Rent Deposit 6,075 6,075
253,128 433,448
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 31,752 75,841
Corporation tax 25,188 18,261
Other taxes and social security 12,956 14,468
VAT 36,881 54,521
Accruals and deferred income 22,024 32,568
Deferred Income 88,382 183,657
217,183 379,316
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 51 51
8. Related Party Transactions
The directors received dividends totalling £51,155 (2023:£59,094) during the year.
The company paid contributions to a defined contributions pension scheme on behalf of the directors of £33,335 (2023: £22,175) during the year.
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