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Registered Number: 07202748
England and Wales

 

 

 

WTS (UK) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Murat Ibrahim Ulchay
Registered Number 07202748
Registered Office 6 Cambridge Close
Sale
Cheshire
England
M33 4YJ
Accountants IAC Accountants Limited
Regal Court Business Centre
42-44 High Street, Slough
England
SL1 1EL
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 2,493    2,804 
Tangible fixed assets 4 6,300    7,301 
8,793    10,105 
Current assets      
Debtors 5 17,182    133,062 
Cash at bank and in hand 448,805    169,513 
465,987    302,575 
Creditors: amount falling due within one year 6 (149,093)   (147,555)
Net current assets 316,894    155,020 
 
Total assets less current liabilities 325,687    165,125 
Creditors: amount falling due after more than one year 7 (10,308)   (19,788)
Net assets 315,379    145,337 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 314,379    144,337 
Shareholders' funds 315,379    145,337 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 06 November 2024 and were signed by:


-------------------------------
Murat Ibrahim Ulchay
Director
2
General Information
WTS (UK) Ltd is a private company, limited by shares, registered in England and Wales, registration number 07202748, registration address 6 Cambridge Close, Sale, Cheshire, England, M33 4YJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets 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.
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:
Computer Equipment 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 April 2023 3,116    3,116 
Additions  
Disposals  
At 31 March 2024 3,116    3,116 
Amortisation
At 01 April 2023 312    312 
Charge for year 311    311 
On disposals  
At 31 March 2024 623    623 
Net book values
At 31 March 2024 2,493    2,493 
At 31 March 2023 2,804    2,804 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 April 2023 11,828    11,828 
Additions 2,090    2,090 
Disposals  
At 31 March 2024 13,918    13,918 
Depreciation
At 01 April 2023 4,527    4,527 
Charge for year 3,091    3,091 
On disposals  
At 31 March 2024 7,618    7,618 
Net book values
Closing balance as at 31 March 2024 6,300    6,300 
Opening balance as at 01 April 2023 7,301    7,301 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Amount Owed by Participating Interests   26,123 
Prepayments & Accrued Income 14,946    86,185 
Other Debtors 1,903    19,725 
VAT 333    1,029 
17,182    133,062 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   53,128 
Bank Loans & Overdrafts 10,116    17,636 
Corporation Tax 30,335    32,502 
Accrued Expenses 57,775    41,827 
Other Creditors 48,071   
Directors' Current Accounts 2,796    2,462 
149,093    147,555 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 10,308    19,788 
10,308    19,788 

8.

Related Party Transactions

Creditors due with in one year includes an interest free amount of £2,796 (2023-£2,462) due to the director. The amount is repayable on demand.

    
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