Company registration number 05191401 (England and Wales)
WEB PROFIT SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
WEB PROFIT SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
WEB PROFIT SOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,900
7,080
Tangible assets
4
9,386
122
15,286
7,202
Current assets
Debtors
5
-
0
521
Cash at bank and in hand
15,074
13,070
15,074
13,591
Creditors: amounts falling due within one year
6
(6,323)
(7,887)
Net current assets
8,751
5,704
Net assets
24,037
12,906
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
24,036
12,905
Total equity
24,037
12,906

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 20 January 2025
Mr A Scott
Director
Company registration number 05191401 (England and Wales)
WEB PROFIT SOLUTIONS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2022
1
17,349
17,350
Year ended 31 July 2023:
Loss and total comprehensive income
-
(3,444)
(3,444)
Dividends
-
(1,000)
(1,000)
Balance at 31 July 2023
1
12,905
12,906
Year ended 31 July 2024:
Profit and total comprehensive income
-
12,131
12,131
Dividends
-
(1,000)
(1,000)
Balance at 31 July 2024
1
24,036
24,037
WEB PROFIT SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Web Profit Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Town Bank Terrace, Ulverston, Cumbria, LA12 7DS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover
Turnover represents amounts receivable for goods supplied and services given exclusive of VAT and net of trade discounts.
1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% reducing balance
Computer equipment
33% straight line
Motor vehicles

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the tax currently payable. Deferred tax is not provided.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

WEB PROFIT SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
2
Employees
2024
2023
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
11,800
Amortisation and impairment
At 1 August 2023
4,720
Amortisation charged for the year
1,180
At 31 July 2024
5,900
Carrying amount
At 31 July 2024
5,900
At 31 July 2023
7,080
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
1,691
Additions
12,399
At 31 July 2024
14,090
Depreciation and impairment
At 1 August 2023
1,569
Depreciation charged in the year
3,135
At 31 July 2024
4,704
Carrying amount
At 31 July 2024
9,386
At 31 July 2023
122
WEB PROFIT SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
521
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
949
-
0
Other taxation and social security
-
0
388
Other creditors
5,374
7,499
6,323
7,887
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