Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 03923080 Mr Mark Stannard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03923080 2023-01-31 03923080 2024-01-31 03923080 2023-02-01 2024-01-31 03923080 frs-core:CurrentFinancialInstruments 2024-01-31 03923080 frs-core:FurnitureFittings 2024-01-31 03923080 frs-core:FurnitureFittings 2023-02-01 2024-01-31 03923080 frs-core:FurnitureFittings 2023-01-31 03923080 frs-core:MotorVehicles 2024-01-31 03923080 frs-core:MotorVehicles 2023-02-01 2024-01-31 03923080 frs-core:MotorVehicles 2023-01-31 03923080 frs-core:ShareCapital 2024-01-31 03923080 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 03923080 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03923080 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 03923080 frs-bus:SmallEntities 2023-02-01 2024-01-31 03923080 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 03923080 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 03923080 frs-bus:Director1 2023-02-01 2024-01-31 03923080 frs-countries:EnglandWales 2023-02-01 2024-01-31 03923080 2022-01-31 03923080 2023-01-31 03923080 2022-02-01 2023-01-31 03923080 frs-core:CurrentFinancialInstruments 2023-01-31 03923080 frs-core:ShareCapital 2023-01-31 03923080 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 03923080
Wirewell Electronic Services Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
RS Welwyn Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03923080
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 672 1,333
672 1,333
CURRENT ASSETS
Stocks 5 48,724 40,317
Debtors 6 92,948 104,149
Cash at bank and in hand 34,019 17,714
175,691 162,180
Creditors: Amounts Falling Due Within One Year 7 (126,214 ) (127,318 )
NET CURRENT ASSETS (LIABILITIES) 49,477 34,862
TOTAL ASSETS LESS CURRENT LIABILITIES 50,149 36,195
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (168 ) (362 )
NET ASSETS 49,981 35,833
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 49,979 35,831
SHAREHOLDERS' FUNDS 49,981 35,833
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Mark Stannard
Director
29/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wirewell Electronic Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03923080 . The registered office is Unit 1 The Mill, High Street, Meldreth, Royston, Herts, SG8 6LB.
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:
Motor Vehicles 20% striaght line
Fixtures & Fittings 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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 years 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 assets reflect 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 3,167 8,074 11,241
As at 31 January 2024 3,167 8,074 11,241
Depreciation
As at 1 February 2023 2,743 7,165 9,908
Provided during the period 423 238 661
As at 31 January 2024 3,166 7,403 10,569
Net Book Value
As at 31 January 2024 1 671 672
As at 1 February 2023 424 909 1,333
5. Stocks
2024 2023
£ £
Materials 3,000 3,000
Work in progress 45,724 37,317
48,724 40,317
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 91,451 103,639
Prepayments and accrued income 497 510
Other debtors 1,000 -
92,948 104,149
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 26,610 33,760
Corporation tax 12,936 1,917
Other taxes and social security 3,691 4,669
VAT 14,720 14,073
Other creditors 6,784 6,423
Accruals and deferred income 1,085 1,085
Director's loan account 60,388 65,391
126,214 127,318
Page 4
Page 5
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 168 362
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5