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REGISTERED NUMBER: 02354195 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Wemtech Limited

Wemtech Limited (Registered number: 02354195)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Wemtech Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ms S Cooper
T J Harrison
C Zivoder





REGISTERED OFFICE: The Great Barn
Wootton Park
Alcester Road
Henley-In-Arden
Warwickshire
B95 6HJ





REGISTERED NUMBER: 02354195 (England and Wales)





ACCOUNTANTS: Davies Archytas Accountants Ltd
14 The Oaks
Clews Road
Redditch
Worcestershire
B98 7ST

Wemtech Limited (Registered number: 02354195)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,410 6,821

CURRENT ASSETS
Debtors 95,240 52,822
Cash at bank and in hand 18,798 94,107
114,038 146,929
CREDITORS
Amounts falling due within one year 41,622 66,847
NET CURRENT ASSETS 72,416 80,082
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,826

86,903

CREDITORS
Amounts falling due after more than one year 12,080 22,080
NET ASSETS 66,746 64,823

RESERVES
Retained earnings 66,746 64,823
66,746 64,823

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.

Wemtech Limited (Registered number: 02354195)

Abridged Statement of Financial Position - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 July 2024 and were signed on its behalf by:





T J Harrison - Director


Wemtech Limited (Registered number: 02354195)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Wemtech Limited is a private company, limited by guarantee, 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Wemtech Limited (Registered number: 02354195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 33,790
Additions 1,309
At 31 March 2024 35,099
DEPRECIATION
At 1 April 2023 26,969
Charge for year 1,720
At 31 March 2024 28,689
NET BOOK VALUE
At 31 March 2024 6,410
At 31 March 2023 6,821

5. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,080 12,080

6. RELATED PARTY DISCLOSURES

During the year, the company provided services to Wemtech CTS Limited, which resulted in an income charge of £95,000 (2023 - £0) within the Financial Statements.
During the year, the company provided services to Experior Technical Services Limited, which resulted in an income charge of £0 (2023 - £72,112) within the Financial Statements.
The company received services from Experior Technical Services Limited during the year, which resulted in a charge of £0 (2023 - £56,000) within the Financial Statements.

Amounts owed to/from Wemtech CTS Limited, Experior Technical Services Limited and Wemtech (Holdings) Limited at the year end totalled £79,351 (2023 - £33,532).

Wemtech Limited (Registered number: 02354195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £5 per member.