Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31true2023-06-01falseRetail sale via mail order houses or via Internet1515trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10773686 2023-06-01 2024-05-31 10773686 2022-06-01 2023-05-31 10773686 2024-05-31 10773686 2023-05-31 10773686 c:Director1 2023-06-01 2024-05-31 10773686 d:MotorVehicles 2023-06-01 2024-05-31 10773686 d:MotorVehicles 2024-05-31 10773686 d:MotorVehicles 2023-05-31 10773686 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773686 d:OfficeEquipment 2023-06-01 2024-05-31 10773686 d:OfficeEquipment 2024-05-31 10773686 d:OfficeEquipment 2023-05-31 10773686 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773686 d:ComputerEquipment 2023-06-01 2024-05-31 10773686 d:ComputerEquipment 2024-05-31 10773686 d:ComputerEquipment 2023-05-31 10773686 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773686 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773686 d:CurrentFinancialInstruments 2024-05-31 10773686 d:CurrentFinancialInstruments 2023-05-31 10773686 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10773686 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10773686 d:ShareCapital 2024-05-31 10773686 d:ShareCapital 2023-05-31 10773686 d:RetainedEarningsAccumulatedLosses 2024-05-31 10773686 d:RetainedEarningsAccumulatedLosses 2023-05-31 10773686 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 10773686 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 10773686 c:OrdinaryShareClass1 2023-06-01 2024-05-31 10773686 c:OrdinaryShareClass1 2024-05-31 10773686 c:OrdinaryShareClass1 2023-05-31 10773686 c:FRS102 2023-06-01 2024-05-31 10773686 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10773686 c:FullAccounts 2023-06-01 2024-05-31 10773686 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10773686 d:WithinOneYear 2024-05-31 10773686 d:WithinOneYear 2023-05-31 10773686 d:BetweenOneFiveYears 2024-05-31 10773686 d:BetweenOneFiveYears 2023-05-31 10773686 d:MoreThanFiveYears 2024-05-31 10773686 d:MoreThanFiveYears 2023-05-31 10773686 2 2023-06-01 2024-05-31 10773686 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10773686









WUKA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
WUKA LIMITED
REGISTERED NUMBER: 10773686

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
29,037
41,625

  
29,037
41,625

CURRENT ASSETS
  

Stocks
  
287,612
333,782

Debtors
 5 
137,899
162,687

Cash at bank and in hand
  
107,185
203,989

  
532,696
700,458

Creditors: amounts falling due within one year
 6 
(309,838)
(493,631)

NET CURRENT ASSETS
  
 
 
222,858
 
 
206,827

TOTAL ASSETS LESS CURRENT LIABILITIES
  
251,895
248,452

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(1,943)
(9,552)

  
 
 
(1,943)
 
 
(9,552)

NET ASSETS
  
249,952
238,900


CAPITAL AND RESERVES
  

Called up share capital 
 9 
2
2

Profit and loss account
  
249,950
238,898

  
249,952
238,900


Page 1

 
WUKA LIMITED
REGISTERED NUMBER: 10773686
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 January 2025.




R Raut
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WUKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


GENERAL INFORMATION

WUKA Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, United Kingdom, CB1 2LA.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
WUKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
WUKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Office equipment
-
20%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Included within the yearend stock figure is a £15,000 provision as requested by the directors to account for a delivery that was donated in the course of the year.

 
2.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WUKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 15 (2023 - 15).


4.


TANGIBLE FIXED ASSETS





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



COST OR VALUATION


At 1 June 2023
57,995
14,046
16,990
89,031


Additions
-
1,141
6,882
8,023



At 31 May 2024

57,995
15,187
23,872
97,054



DEPRECIATION


At 1 June 2023
30,206
4,756
12,444
47,406


Charge for the year on owned assets
14,498
2,810
3,303
20,611



At 31 May 2024

44,704
7,566
15,747
68,017



NET BOOK VALUE



At 31 May 2024
13,291
7,621
8,125
29,037



At 31 May 2022
27,789
9,290
4,546
41,625

Page 6

 
WUKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


DEBTORS


2024
2023
£
£



Trade debtors
86,938
87,767

Other debtors
26,867
55,559

Prepayments and accrued income
24,094
19,361

137,899
162,687



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
1
-

Bank loans
-
19,800

Trade creditors
229,882
135,551

Corporation tax
4,090
-

Other taxation and social security
12,523
290,755

Other creditors
53,234
38,142

Accruals and deferred income
10,108
9,383

309,838
493,631


Other creditors include contributions of £5,357 (2023: £NIL) payable to the Company's defined contribution pension scheme at the balance sheet date.
Included in bank loans is a Government backed 'bounce back' loan of £NIL (2023: £19,800), which was drawn down in Feb 2021. This loan is 100% guaranteed by the Government. Interest is charged at 2.5% per annum and the first instalment was due in Feb 22.


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR




Included in bank loans is a Government backed 'bounce back' loan of £NIL (2022: £22,250), which was drawn down in Feb 2021. This loan is 100% guaranteed by the Government. Interest is charged at 2.5% per annum and the first instalment was due in Feb 22.

Page 7

 
WUKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


DEFERRED TAXATION




2024


£






At beginning of year
(9,552)


Charged to profit or loss
7,609



AT END OF YEAR
(1,943)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,943)
(9,552)

(1,943)
(9,552)


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



10.


COMMITMENTS UNDER OPERATING LEASES

At 31 May 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
79,500
79,500

Later than 1 year and not later than 5 years
318,000
318,000

Later than 5 years
198,750
278,250

596,250
675,750

 
Page 8