Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08921207 Mr Roberto Sozzi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08921207 2023-03-31 08921207 2024-03-31 08921207 2023-04-01 2024-03-31 08921207 frs-core:CurrentFinancialInstruments 2024-03-31 08921207 frs-core:NetGoodwill 2024-03-31 08921207 frs-core:NetGoodwill 2023-04-01 2024-03-31 08921207 frs-core:NetGoodwill 2023-03-31 08921207 frs-core:MotorVehicles 2024-03-31 08921207 frs-core:MotorVehicles 2023-04-01 2024-03-31 08921207 frs-core:MotorVehicles 2023-03-31 08921207 frs-core:PlantMachinery 2024-03-31 08921207 frs-core:PlantMachinery 2023-04-01 2024-03-31 08921207 frs-core:PlantMachinery 2023-03-31 08921207 frs-core:ShareCapital 2024-03-31 08921207 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08921207 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08921207 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08921207 frs-bus:SmallEntities 2023-04-01 2024-03-31 08921207 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08921207 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08921207 frs-bus:Director1 2023-04-01 2024-03-31 08921207 frs-countries:EnglandWales 2023-04-01 2024-03-31 08921207 2022-03-31 08921207 2023-03-31 08921207 2022-04-01 2023-03-31 08921207 frs-core:CurrentFinancialInstruments 2023-03-31 08921207 frs-core:ShareCapital 2023-03-31 08921207 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08921207
WIRPS Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08921207
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 18,500
Tangible Assets 5 30,284 36,272
30,284 54,772
CURRENT ASSETS
Stocks 6 36,000 36,000
Debtors 7 41,515 23,348
Cash at bank and in hand 27,814 57,624
105,329 116,972
Creditors: Amounts Falling Due Within One Year 8 (4,282 ) (6,075 )
NET CURRENT ASSETS (LIABILITIES) 101,047 110,897
TOTAL ASSETS LESS CURRENT LIABILITIES 131,331 165,669
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,177 ) (6,188 )
NET ASSETS 126,154 159,481
CAPITAL AND RESERVES
Called up share capital 9 20 20
Profit and Loss Account 126,134 159,461
SHAREHOLDERS' FUNDS 126,154 159,481
Page 1
Page 2
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 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 Roberto Sozzi
Director
27/11/2024
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
WIRPS Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08921207 . The registered office is Riversdale, Ashburton Road, Totnes, Devon, TQ9 5JU.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Plant & Machinery 15% on reducing balance
Motor Vehicles 20% on reducing balance
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 185,000
As at 31 March 2024 185,000
Amortisation
As at 1 April 2023 166,500
Provided during the period 18,500
As at 31 March 2024 185,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 18,500
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 48,313 35,117 83,430
As at 31 March 2024 48,313 35,117 83,430
Depreciation
As at 1 April 2023 22,991 24,167 47,158
Provided during the period 3,798 2,190 5,988
As at 31 March 2024 26,789 26,357 53,146
Net Book Value
As at 31 March 2024 21,524 8,760 30,284
As at 1 April 2023 25,322 10,950 36,272
6. Stocks
2024 2023
£ £
Stock 36,000 36,000
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 41,515 23,348
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,288 3,492
Other creditors 994 1,698
Taxation and social security - 885
4,282 6,075
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
10. Related Party Transactions
At 31 March 2024, the director, Mr R Sozzi, owed the company £40,576. (2023 the director, Mr R Sozzi owed the company £22,566), this amount is included within Debtors.
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