Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The principal activity of the company during the year was the buying and selling of batteries.false2024-01-01false33truetrue 05425534 2024-01-01 2024-12-31 05425534 2023-01-01 2023-12-31 05425534 2024-12-31 05425534 2023-12-31 05425534 c:Director2 2024-01-01 2024-12-31 05425534 c:Director3 2024-01-01 2024-12-31 05425534 c:Director4 2024-01-01 2024-12-31 05425534 c:RegisteredOffice 2024-01-01 2024-12-31 05425534 d:MotorVehicles 2024-01-01 2024-12-31 05425534 d:FurnitureFittings 2024-01-01 2024-12-31 05425534 d:OfficeEquipment 2024-01-01 2024-12-31 05425534 d:OfficeEquipment 2024-12-31 05425534 d:OfficeEquipment 2023-12-31 05425534 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05425534 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 05425534 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05425534 d:ShareCapital 2024-12-31 05425534 d:ShareCapital 2023-12-31 05425534 d:RetainedEarningsAccumulatedLosses 2024-12-31 05425534 d:RetainedEarningsAccumulatedLosses 2023-12-31 05425534 c:FRS102 2024-01-01 2024-12-31 05425534 c:Audited 2024-01-01 2024-12-31 05425534 c:AbridgedAccounts 2024-01-01 2024-12-31 05425534 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05425534 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05425534 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 05425534









WETAC U.K. LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
WETAC U.K. LIMITED
 

CONTENTS



Page
Company Information
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 9


 
WETAC U.K. LIMITED
 
 
COMPANY INFORMATION


Directors
M J van Rossum 
J Pietryga 
P J C van der Meer 




Registered number
05425534



Registered office
Westgate House
44 Hale Road

Hale

Altrincham

Cheshire

WA14 2EX




Independent auditors
Alexander Knight and Co Limited
Chartered Accountants and Statutory Auditor

Westgate House

44 Hale Road

Hale

Altrincham

Cheshire

WA14 2EX




Page 1

 
WETAC U.K. LIMITED
REGISTERED NUMBER: 05425534

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,230
7,310

  
3,230
7,310

Current assets
  

Stocks
  
649
-

Debtors
  
284,650
337,299

Cash at bank and in hand
  
565,016
67,884

  
850,315
405,183

Creditors: amounts falling due within one year
  
(585,804)
(190,660)

Net current assets
  
 
 
264,511
 
 
214,523

Total assets less current liabilities
  
267,741
221,833

Net assets
  
267,741
221,833


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
267,541
221,633

  
267,741
221,833


Page 2

 
WETAC U.K. LIMITED
REGISTERED NUMBER: 05425534
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 by: 




J Pietryga
Director

Date: 7 April 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
WETAC U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a private company limited by shares, registered in England and Wales (registered number 05425534). The address of the registered office is Westgate House, 44 Hale Road, Altrincham, England, WA14 2EX.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax from the proceeds.
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Page 4

 
WETAC U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

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.

Page 5

 
WETAC U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Employee benefits

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 reporting 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 reporting 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 reporting date.


 
2.9

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 6

 
WETAC U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
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:

Motor vehicles
-
20%
straight line
Fixtures and fittings
-
20%
straight line
Office 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.

 
2.10

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

At each reporting 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.

Page 7

 
WETAC U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
Management do not feel that there are any judgements (apart from those involving estimations) that have been made in the process of applying the entity's accounting policies which have a significant effect on the amounts recognised in the financial statements.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Estimated useful life and residual value of fixed assets
Depreciation of tangible fixed assets have been based on the estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives and residual values, as evidenced by disposals during current and prior accounting periods.
Impairment of debtors
The company makes an estimate of the recoverable value of trade debtors. When assessing the impairment of trade debtors, management include factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See the notes to the financial statements for the net carrying amount of the debtors and any associated impairment provision.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 8

 
WETAC U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Tangible assets

£



Cost or valuation


At 1 January 2024
21,620



At 31 December 2024

21,620



Depreciation


At 1 January 2024
14,310


Charge for the year on owned assets
4,080



At 31 December 2024

18,390



Net book value



At 31 December 2024
3,230



At 31 December 2023
7,310


6.


Related party transactions

As at 31st December 2024 £15,665 (2023: £60,505) was owed to other group companies.


7.


Controlling party

The group in which this company's information is consolidated is that of Wetac Group B.V.. Wetac Group B.V. is incorporated in the Netherlands and will be drawing up consolidated financial statements to 31 December 2023. The principal place of business for Wetac Group B.V. is: Galvanitraat 117, 6716AE ADE, The Netherlands. Copies of the consolidated financial statements of Wetac Group B.V. can be obtained from the above address.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 11 April 2025 by Murray Patt FCA (Senior Statutory Auditor) on behalf of Alexander Knight and Co Limited.

 
Page 9