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Registered Number: 07292605
England and Wales

 

 

 

WTS SYSTEMS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Director Christopher Musselle
Registered Number 07292605
Registered Office Suite 1, Second Floor, Gateway House
New Chester Road
Bromborough
Wirral
CH62 3NX
Accountants Woods Squared Limited
The Old School
188 Liscard Road
Wallasey
Wirral
CH44 5TN
Secretary Christopher Musselle
1
Director's report and financial statements
The director presents their annual report and the financial statements for the year ended 30 June 2024.
Principal activities
Principal activity of the company during the financial year was of the provision of IT support & consultancy services.
Director
The director who served the company throughout the year was as follows:
Christopher Musselle
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Christopher Musselle
Director

Date approved: 15 January 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,742    2,431 
1,742    2,431 
Current assets      
Stocks 4 3,000    3,000 
Debtors: amounts falling due within one year 5 68,396    37,655 
Cash at bank and in hand 17,974    22,038 
89,370    62,693 
Creditors: amount falling due within one year 6 (67,702)   (50,933)
Net current assets 21,668    11,760 
 
Total assets less current liabilities 23,410    14,191 
Provisions for liabilities 7 (331)   (462)
Net assets 23,079    13,729 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 23,078    13,728 
Shareholders' funds 23,079    13,729 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 15 January 2025 and were signed by:


-------------------------------
Christopher Musselle
Director
3
General Information
WTS Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 07292605, registration address Suite 1, Second Floor, Gateway House, New Chester Road, Bromborough, Wirral, CH62 3NX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 July 2023 2,045    6,719    8,764 
Additions 95      95 
Disposals    
At 30 June 2024 2,140    6,719    8,859 
Depreciation
At 01 July 2023 1,307    5,026    6,333 
Charge for year 208    576    784 
On disposals    
At 30 June 2024 1,515    5,602    7,117 
Net book values
Closing balance as at 30 June 2024 625    1,117    1,742 
Opening balance as at 01 July 2023 738    1,693    2,431 


4.

Stocks

2024
£
  2023
£
Stocks 3,000    3,000 
3,000    3,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 65,145    34,328 
Other Debtors 3,251    3,327 
68,396    37,655 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 15,333    11,305 
Taxation and Social Security 12,904    10,257 
Other Creditors 39,465    29,371 
67,702    50,933 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 331    462 
331    462 

4