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REGISTERED NUMBER: 10915498 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

WAFFLE TECH LIMITED

WAFFLE TECH LIMITED (REGISTERED NUMBER: 10915498)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WAFFLE TECH LIMITED

Company Information
for the year ended 30 June 2024







DIRECTORS: J Bourne
M C M Pritchard





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 10915498 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

WAFFLE TECH LIMITED (REGISTERED NUMBER: 10915498)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 744 -
Tangible assets 5 9,861 7,266
10,605 7,266

CURRENT ASSETS
Debtors 6 554 4,580
Cash at bank 216,571 164,448
217,125 169,028
CREDITORS
Amounts falling due within one year 7 (795,527 ) (645,004 )
NET CURRENT LIABILITIES (578,402 ) (475,976 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(567,797

)

(468,710

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (567,897 ) (468,810 )
SHAREHOLDERS' FUNDS (567,797 ) (468,710 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

WAFFLE TECH LIMITED (REGISTERED NUMBER: 10915498)

Balance Sheet - continued
30 June 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





J Bourne - Director


WAFFLE TECH LIMITED (REGISTERED NUMBER: 10915498)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Waffle Tech Limited is a private company, limited by shares , 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 represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue from the sale of business and domestic software development services is recognised at the point of sale.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixture & fittings-25% on cost
Computer equipment-25% on cost

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 balance sheet date.


WAFFLE TECH LIMITED (REGISTERED NUMBER: 10915498)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The company is reliant on funding from the parent company at present. The directors believe there are sufficient resources for the company to continue operating so the company continues to adopt the going concern policy.

Government grants
Grants which relate to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 790
At 30 June 2024 790
AMORTISATION
Charge for year 46
At 30 June 2024 46
NET BOOK VALUE
At 30 June 2024 744

WAFFLE TECH LIMITED (REGISTERED NUMBER: 10915498)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 537 11,447 11,984
Additions - 6,572 6,572
Disposals - (315 ) (315 )
At 30 June 2024 537 17,704 18,241
DEPRECIATION
At 1 July 2023 346 4,372 4,718
Charge for year 79 3,721 3,800
Eliminated on disposal - (138 ) (138 )
At 30 June 2024 425 7,955 8,380
NET BOOK VALUE
At 30 June 2024 112 9,749 9,861
At 30 June 2023 191 7,075 7,266

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55 441
Other debtors 499 4,139
554 4,580

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,533 1,119
Amounts owed to group undertakings 642,173 562,109
Taxation and social security 63,468 27,364
Other creditors 88,353 54,412
795,527 645,004

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.