Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falseon-line news platform44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10713170 2023-05-01 2024-04-30 10713170 2022-05-01 2023-04-30 10713170 2024-04-30 10713170 2023-04-30 10713170 c:Director1 2023-05-01 2024-04-30 10713170 d:ComputerEquipment 2023-05-01 2024-04-30 10713170 d:ComputerEquipment 2024-04-30 10713170 d:ComputerEquipment 2023-04-30 10713170 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10713170 d:CurrentFinancialInstruments 2024-04-30 10713170 d:CurrentFinancialInstruments 2023-04-30 10713170 d:Non-currentFinancialInstruments 2024-04-30 10713170 d:Non-currentFinancialInstruments 2023-04-30 10713170 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10713170 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10713170 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10713170 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10713170 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 10713170 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10713170 d:ShareCapital 2024-04-30 10713170 d:ShareCapital 2023-04-30 10713170 d:RetainedEarningsAccumulatedLosses 2024-04-30 10713170 d:RetainedEarningsAccumulatedLosses 2023-04-30 10713170 c:OrdinaryShareClass2 2023-05-01 2024-04-30 10713170 c:OrdinaryShareClass2 2024-04-30 10713170 c:OrdinaryShareClass2 2023-04-30 10713170 c:FRS102 2023-05-01 2024-04-30 10713170 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10713170 c:FullAccounts 2023-05-01 2024-04-30 10713170 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10713170 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 10713170














WIKITRIBUNE LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
WIKITRIBUNE LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
WIKITRIBUNE LTD
REGISTERED NUMBER:10713170

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
824
-

Current assets
  

Debtors: amounts falling due within one year
 5 
869
868

Cash at bank and in hand
  
4,509
8,647

  
5,378
9,515

Creditors: amounts falling due within one year
 6 
(397,904)
(301,463)

Net current liabilities
  
 
 
(392,526)
 
 
(291,948)

Creditors: amounts falling due after more than one year
 7 
(14,805)
(24,946)

  

Net liabilities
  
(406,507)
(316,894)


Capital and reserves
  

Called up share capital 
 9 
111
111

Profit and loss account
  
(406,618)
(317,005)

  
(406,507)
(316,894)


Page 1

 
WIKITRIBUNE LTD
REGISTERED NUMBER:10713170
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 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 statement of comprehensive income 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 by: 




J D Wales
Director

Date: 27 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WIKITRIBUNE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Wikitribune Ltd is a limited liability company registered in England and Wales. Its registered office address is at Connaught House 2nd Floor, 1-3 Mount Street, London, W1K 3NB.
The principal activity of the company is that of the provision of an on-line news platform.

2.Accounting policies

 
2.1

Basis of preparation of financial sttaements

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

Going concern

At the balance sheet date, the company had net current liabilities and net liabilities. The director, who is also the sole shareholder, will make funds available to the company so that it wil be able to carry on trading and meet its financial obligations as and when they fall due for a least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Supporters contributions are recognised at the point of receipt of the contributions.
Grant income is recognised on completion of millstones set out as per the grant agreement.

 
2.4

Research and development

In the development phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred.

 
2.5

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
WIKITRIBUNE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

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:

Computer equipment
-
25%
reducing balance

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.

 
2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.8

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.

 
2.9

Borrowing costs

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


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 4

 
WIKITRIBUNE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 May 2023
5,111


Additions
1,099



At 30 April 2024

6,210



Depreciation


At 1 May 2023
5,111


Charge for the year on owned assets
275



At 30 April 2024

5,386



Net book value



At 30 April 2024
824



At 30 April 2023
-

Page 5

 
WIKITRIBUNE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Other debtors
425
425

Prepayments and accrued income
444
443

869
868



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
40

Bank loans
10,140
9,890

Taxation and social security
7,507
5,734

Director's loan account
371,754
278,281

Accruals and deferred income
8,503
7,518

397,904
301,463



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
14,805
24,946



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,140
9,890


Amounts falling due 2-5 years

Bank loans
14,806
24,947


24,946
34,837


Page 6

 
WIKITRIBUNE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



11,111 (2023 - 11,111) Ordinary shares of £0.01 each
111
111


 
Page 7