Acorah Software Products - Accounts Production 16.1.300 false true false 1 June 2023 31 May 2024 31 May 2024 09045514 Mrs Sarah Cerbone iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09045514 2023-05-31 09045514 2024-05-31 09045514 2023-06-01 2024-05-31 09045514 frs-core:CurrentFinancialInstruments 2024-05-31 09045514 frs-core:ComputerEquipment 2024-05-31 09045514 frs-core:ComputerEquipment 2023-06-01 2024-05-31 09045514 frs-core:ComputerEquipment 2023-05-31 09045514 frs-core:FurnitureFittings 2024-05-31 09045514 frs-core:FurnitureFittings 2023-06-01 2024-05-31 09045514 frs-core:FurnitureFittings 2023-05-31 09045514 frs-core:PlantMachinery 2024-05-31 09045514 frs-core:PlantMachinery 2023-06-01 2024-05-31 09045514 frs-core:PlantMachinery 2023-05-31 09045514 frs-core:ShareCapital 2024-05-31 09045514 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09045514 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09045514 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 09045514 frs-bus:SmallEntities 2023-06-01 2024-05-31 09045514 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09045514 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09045514 frs-bus:Director1 2023-06-01 2024-05-31 09045514 frs-countries:EnglandWales 2023-06-01 2024-05-31
Registered number: 09045514
WIGgIT Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Accountancy Gems Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09045514
2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 (1 )
(1 )
CURRENT ASSETS
Stocks 5 121,066
Debtors 6 4,167
Cash at bank and in hand 19,751
144,984
Creditors: Amounts Falling Due Within One Year 7 (101,786 )
NET CURRENT ASSETS (LIABILITIES) 43,198
TOTAL ASSETS LESS CURRENT LIABILITIES 43,197
NET ASSETS 43,197
CAPITAL AND RESERVES
Called up share capital 8 1
Profit and Loss Account 43,196
SHAREHOLDERS' FUNDS 43,197
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Sarah Cerbone
Director
7th January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
WIGgIT Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09045514 . The registered office is UNIT 4 RONALD ROLPH COURT, WADLOES ROAD, CAMBRIDGE, CB5 8PX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20
Fixtures & Fittings 20
Computer Equipment 20
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2
2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 709 869 1,836 3,414
As at 31 May 2024 709 869 1,836 3,414
Depreciation
As at 1 June 2023 710 869 - 1,579
Provided during the period - - 1,836 1,836
As at 31 May 2024 710 869 1,836 3,415
...CONTINUED
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Net Book Value
As at 31 May 2024 (1 ) - - (1 )
As at 1 June 2023 (1 ) - 1,836 1,835
5. Stocks
2024
£
Materials 121,066
6. Debtors
2024
£
Due within one year
Trade debtors 4,167
7. Creditors: Amounts Falling Due Within One Year
2024
£
Trade creditors 7,025
Bank loans and overdrafts 7,061
Other creditors 77,600
Taxation and social security 10,100
101,786
8. Share Capital
2024
£
Allotted, Called up and fully paid 1
Page 4