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Registered number: 08553412
Wovex Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
BWBCA Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08553412
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 216,052 214,962
Tangible Assets 5 2,020 1,621
218,072 216,583
CURRENT ASSETS
Debtors 6 12,635 97,764
Cash at bank and in hand 145,497 63,638
158,132 161,402
Creditors: Amounts Falling Due Within One Year 7 (341,025 ) (332,949 )
NET CURRENT ASSETS (LIABILITIES) (182,893 ) (171,547 )
TOTAL ASSETS LESS CURRENT LIABILITIES 35,179 45,036
Creditors: Amounts Falling Due After More Than One Year 8 (7,716 ) (29,860 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,504 ) (14,786 )
NET ASSETS 18,959 390
CAPITAL AND RESERVES
Called up share capital 10 10,462 10,462
Share premium account 1,073 1,073
Profit and Loss Account 7,424 (11,145 )
SHAREHOLDERS' FUNDS 18,959 390
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Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Trevor Howes
Director
24 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Wovex Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08553412 . The registered office is 1010 Cambourne Business Centre, Cambridge, Cambridgeshire, CB23 6DP.
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.
The presentation currency of the financial statements is the Pound Sterling (£).
2.2. Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts, and is invoiced on a work done basis.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
Trademarks
Trademarks are amortised to the profit and loss account over their economic life, estimated to be 10 years.
2.4. Research and Development
Development Costs
Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Development costs are amortised on a straight line basis over their useful lives of 5 years when the product is available for use.
2.5. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 33% on cost
Computer Equipment 33% on cost
2.6. Financial Instruments
Debt instruments, other than those wholly repayable within one year, are initially measured at transaction price including transaction costs and subsequently at amortised cost using the effective interest rate method.
2.7. Foreign Currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
2.8. Pensions
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.
3. Average Number of Employees
Average number of employees, during the year was: 1 (2023: 1)
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4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 July 2023 3,116 728,822 731,938
Additions - 95,449 95,449
As at 30 June 2024 3,116 824,271 827,387
Amortisation
As at 1 July 2023 2,366 514,610 516,976
Provided during the period 311 94,048 94,359
As at 30 June 2024 2,677 608,658 611,335
Net Book Value
As at 30 June 2024 439 215,613 216,052
As at 1 July 2023 750 214,212 214,962
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 712 217 8,494 9,423
Additions - - 1,532 1,532
As at 30 June 2024 712 217 10,026 10,955
Depreciation
As at 1 July 2023 641 190 6,971 7,802
Provided during the period 18 27 1,088 1,133
As at 30 June 2024 659 217 8,059 8,935
Net Book Value
As at 30 June 2024 53 - 1,967 2,020
As at 1 July 2023 71 27 1,523 1,621
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 371 65,404
Other debtors 12,264 32,360
12,635 97,764
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,920 13,687
Bank loans and overdrafts 8,214 8,010
Other loans 13,930 21,213
Other creditors 225,363 204,683
Taxation and social security 82,598 85,356
341,025 332,949
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,716 15,930
Other loans - 13,930
7,716 29,860
9. Secured Creditors
The following secured debts are included within creditors:
2024
2023
£
£
Other loans
13.390
image
35,142
image
The directors have provided personal guarantees on the other loans.
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
3,704,600 Ordinary A shares of £ 0.001 each 3,705 3,705
3,704,600 Ordinary B shares of £ 0.001 each 3,705 3,705
1,044,710 Ordinary C shares of £ 0.001 each 1,044 1,044
739,000 Ordinary D shares of £ 0.001 each 739 739
1,044,110 Ordinary E shares of £ 0.001 each 1,044 1,044
225,000 Ordinary F shares of £ 0.001 each 225 225
10,462 10,462
11. Related Party Transactions
At the balance sheet date the company owed the directors £66,339 (2023: £20,741 -owed by the directors). At the balance sheet date the company owed the director £nil (2023: 2,157). Interest has been charged on loans to directors at the HMRC approved beneficial loans rate. 
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