Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falsebusiness consultants22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06210350 2023-06-01 2024-05-31 06210350 2022-06-01 2023-05-31 06210350 2024-05-31 06210350 2023-05-31 06210350 c:Director1 2023-06-01 2024-05-31 06210350 d:OfficeEquipment 2023-06-01 2024-05-31 06210350 d:OfficeEquipment 2024-05-31 06210350 d:OfficeEquipment 2023-05-31 06210350 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06210350 d:CurrentFinancialInstruments 2024-05-31 06210350 d:CurrentFinancialInstruments 2023-05-31 06210350 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 06210350 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 06210350 d:ShareCapital 2024-05-31 06210350 d:ShareCapital 2023-05-31 06210350 d:RetainedEarningsAccumulatedLosses 2024-05-31 06210350 d:RetainedEarningsAccumulatedLosses 2023-05-31 06210350 c:FRS102 2023-06-01 2024-05-31 06210350 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06210350 c:FullAccounts 2023-06-01 2024-05-31 06210350 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06210350 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Registered number: 06210350





 
Wintech Services Limited          
 
Financial statements          

For the year ended 31 May 2024          

 
Wintech Services Limited
Registered number:06210350

Balance sheet
As at 31 May 2024


2024 

2023 
                                                                                 Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
2,881
2,283

Current assets
  

Debtors
 5 
14,675
24,009

Cash at bank and in hand
  
108,016
83,134

  
122,691
107,143

Creditors: amounts falling due within one year
 6 
(93,565)
(91,340)

Net current assets
  
 
 
29,126
 
 
15,803

  

Net assets
  
32,007
18,086


Capital and reserves
  

Called up share capital 
  
90
90

Profit and loss account
  
31,917
17,996

  
32,007
18,086


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 company has opted not to file the statement of income and retained earnings 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 on 24 February 2025.






MA Winter
Director


The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
Wintech Services Limited
 
 
Notes to the financial statements
For the year ended 31 May 2024

1.


General information

Wintech Services Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 2

 
Wintech Services Limited
 
 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rate:

Office 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.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


 

Page 3

 
Wintech Services Limited
 
 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Page 4

 
Wintech Services Limited
 
 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

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 Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

2024
2023
£
£

Wages and salaries
14,570
11,096

Social security costs
479
-

Cost of defined contribution scheme
24,000
44,000

39,049
55,096


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
Wintech Services Limited
 
 
Notes to the financial statements
For the year ended 31 May 2024

4.


Tangible fixed assets





Office equipment

£



Cost 


At 1 June 2023
5,940


Additions
1,624


Disposals
(791)



At 31 May 2024

6,773



Depreciation


At 1 June 2023
3,657


Charge for the year
692


Disposals
(457)



At 31 May 2024

3,892



Net book value



At 31 May 2024
2,881



At 31 May 2023
2,283


5.


Debtors

2024
2023
£
£


Trade debtors
14,192
23,536

Prepayments and accrued income
483
473

14,675
24,009


Page 6

 
Wintech Services Limited
 
 
Notes to the financial statements
For the year ended 31 May 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
21,539
11,752

Other taxation and social security
7,634
6,725

Directors' loan account
62,292
70,763

Accruals and deferred income
2,100
2,100

93,565
91,340



7.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £24,000 (2023 - £44,000)

 



 

Page 7