Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30truefalse2023-07-01falseE-commerce trading of candles and similar items1513trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI639662 2023-07-01 2024-06-30 NI639662 2022-07-01 2023-06-30 NI639662 2024-06-30 NI639662 2023-06-30 NI639662 c:Director1 2023-07-01 2024-06-30 NI639662 d:Buildings 2023-07-01 2024-06-30 NI639662 d:Buildings 2024-06-30 NI639662 d:Buildings 2023-06-30 NI639662 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI639662 d:Buildings d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI639662 d:MotorVehicles 2023-07-01 2024-06-30 NI639662 d:MotorVehicles 2024-06-30 NI639662 d:MotorVehicles 2023-06-30 NI639662 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI639662 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI639662 d:FurnitureFittings 2023-07-01 2024-06-30 NI639662 d:FurnitureFittings 2024-06-30 NI639662 d:FurnitureFittings 2023-06-30 NI639662 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI639662 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI639662 d:ComputerEquipment 2023-07-01 2024-06-30 NI639662 d:ComputerEquipment 2024-06-30 NI639662 d:ComputerEquipment 2023-06-30 NI639662 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI639662 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI639662 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI639662 d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI639662 d:CurrentFinancialInstruments 2024-06-30 NI639662 d:CurrentFinancialInstruments 2023-06-30 NI639662 d:Non-currentFinancialInstruments 2024-06-30 NI639662 d:Non-currentFinancialInstruments 2023-06-30 NI639662 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 NI639662 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 NI639662 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 NI639662 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 NI639662 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 NI639662 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 NI639662 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 NI639662 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 NI639662 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 NI639662 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 NI639662 d:ShareCapital 2024-06-30 NI639662 d:ShareCapital 2023-06-30 NI639662 d:CapitalRedemptionReserve 2023-07-01 2024-06-30 NI639662 d:CapitalRedemptionReserve 2024-06-30 NI639662 d:CapitalRedemptionReserve 2023-06-30 NI639662 d:OtherMiscellaneousReserve 2024-06-30 NI639662 d:OtherMiscellaneousReserve 2023-06-30 NI639662 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 NI639662 d:RetainedEarningsAccumulatedLosses 2024-06-30 NI639662 d:RetainedEarningsAccumulatedLosses 2023-06-30 NI639662 c:FRS102 2023-07-01 2024-06-30 NI639662 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 NI639662 c:FullAccounts 2023-07-01 2024-06-30 NI639662 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI639662 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 NI639662 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 NI639662 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 NI639662 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 NI639662 6 2023-07-01 2024-06-30 NI639662 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-06-30 NI639662 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 NI639662 d:LeasedAssetsHeldAsLessee 2024-06-30 NI639662 d:LeasedAssetsHeldAsLessee 2023-06-30 NI639662 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: NI639662










WICKOLOGY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
WICKOLOGY LTD
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10


 
WICKOLOGY LTD
REGISTERED NUMBER:NI639662

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
355,748
429,648

Investments
 5 
3
3

  
355,751
429,651

Current assets
  

Stocks
  
377,346
679,172

Debtors: amounts falling due within one year
 6 
729,392
97,437

Cash at bank and in hand
 7 
186,314
319,901

  
1,293,052
1,096,510

Creditors: amounts falling due within one year
 8 
(963,941)
(707,606)

Net current assets
  
 
 
329,111
 
 
388,904

Total assets less current liabilities
  
684,862
818,555

Creditors: amounts falling due after more than one year
 9 
(188,604)
(205,092)

Provisions for liabilities
  

Deferred tax
  
(15,715)
(22,850)

  
 
 
(15,715)
 
 
(22,850)

Net assets
  
480,543
590,613


Capital and reserves
  

Called up share capital 
  
200
200

Capital redemption reserve
 12 
200
200

Other reserves
 12 
172,083
172,083

Profit and loss account
 12 
308,060
418,130

  
480,543
590,613


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.

Page 1

 
WICKOLOGY LTD
REGISTERED NUMBER:NI639662

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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 on 17 March 2025.

Graeme Ferguson
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
WICKOLOGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Wickology Ltd is a private company, limited by shares, incorporated in Northern Ireland under company registration number NI639662.
The company's registered ofice is situated at 23a Clanbrassil Road, Holywood, Co. Down, BT18 0AR.
The company's principal activity is E-commerce retailling.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

 
2.3

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
WICKOLOGY LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

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.

Page 4

 
WICKOLOGY LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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:

Freehold property
-
2%
Straight line
Motor vehicles
-
Fixtures and fittings
-
20%
Straight line
Computer equipment
-
20%
Straight line

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
WICKOLOGY LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 13).


4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
332,624
88,967
56,298
247,207
725,096


Additions
-
-
-
3,749
3,749



At 30 June 2024

332,624
88,967
56,298
250,956
728,845



Depreciation


At 1 July 2023
39,912
10,379
50,748
194,409
295,448


Charge for the year on owned assets
6,652
-
5,550
49,729
61,931


Charge for the year on financed assets
-
15,718
-
-
15,718



At 30 June 2024

46,564
26,097
56,298
244,138
373,097



Net book value



At 30 June 2024
286,060
62,870
-
6,818
355,748



At 30 June 2023
292,712
78,588
5,550
52,798
429,648

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
62,870
78,588

62,870
78,588

Page 6

 
WICKOLOGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 July 2023
3



At 30 June 2024
3





6.


Debtors

2024
2023
£
£


Trade debtors
18,553
30,539

Other debtors
707,586
63,645

Prepayments and accrued income
3,253
3,253

729,392
97,437



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
186,314
319,901

186,314
319,901


Page 7

 
WICKOLOGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
25,777
25,958

Trade creditors
353,662
341,116

Corporation tax
42,357
16,807

Other taxation and social security
89,297
54,045

Obligations under finance lease and hire purchase contracts
11,495
12,006

Other creditors
437,853
254,174

Accruals and deferred income
3,500
3,500

963,941
707,606


2024
2023
£
£

Other taxation and social security

PAYE/NI control
9,396
3,950

VAT control
79,901
50,095

89,297
54,045



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
137,091
148,732

Net obligations under finance leases and hire purchase contracts
51,513
56,360

188,604
205,092


The following liabilities were secured:

2024
2023
£
£



Bank loans
162,867
174,689

162,867
174,689

Details of security provided:

Bank loans are secured by a mortgage debenture incorporating a fixed and floating charge over all of the Company's assets.

Page 8

 
WICKOLOGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
25,777
25,958


25,777
25,958

Amounts falling due 1-2 years

Bank loans
25,777
25,958


25,777
25,958

Amounts falling due 2-5 years

Bank loans
77,331
77,874


77,331
77,874

Amounts falling due after more than 5 years

Bank loans
33,983
44,899

33,983
44,899

162,868
174,689



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
11,495
11,495

Between 1-5 years
51,513
56,870

63,008
68,365

Page 9

 
WICKOLOGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Reserves

Capital redemption reserve

This reserve includes the nominal value of shares repurchased by the company.

Profit and loss account

The profit and loss account includes all prior period and current period retained profits and losses.


13.


Pension commitments

The Company operates a defined contributions pension scheme. Contributions totalling £5,955 (2023: £6,116) were payable to the fund during the year. At the balance sheet date, £1,012 (£2023: £Nil) was outstanding and is included within Other Creditors.


14.


Related party transactions

At the balance sheet date, the company owed £219,440 (2023: £141,992) to GF Stores Ltd, a company that is controlled by Graeme Ferguson, a director.
At the balance sheet date, the company was owed £535,883 (2023: owed £26,848 to) from Graeme Ferguson, a director. This balance was repaid within 9 months and 1 day of the balance sheet date.
Terms and conditions of transactions with related parties
Sales and purchases between related parties are made at normal market prices. Outstanding balances with entities are unsecured, interest free and cash settlement is expected within 60 days of invoice. The Company has not provided or benefitted from any guarantees for any related party receivables or payables.


15.


Controlling party

The ultimate controlling parties are Graeme Ferguson and Maria Ferguson by virtue of their shareholding in the company.


Page 10