WIREMOCK LIMITED
Directors: T.M. Akehurst
U. Maoz
Registered office: 5.2 Central House
1 Ballards Lane
N3 1LQ
Registered No: 15104961 (England & Wales)
Annual report and financial statements
For the period of 16 months ended 31 December 2024
page
Statement of financial position 1
Notes to the financial statements 2-6
WIREMOCK LIMITED
Statement of financial position as at 31 December 2024
31.12.2024
Notes £ £
Fixed assets
Plant & equipment 5 5,743
Current assets
Debtors 6 57,110
Cash at Bank and in hand 17,919
75,029
Creditors: amounts falling due
within one year 7 (20,662)
Net current assets 54,367
Total assets £ 60,110
Capital and Reserve
31.12.2024
£ £
Called up share capital 9 1
Capital fund 4,375
Profit and loss account 55,734
Shareholders' fund £ 60,110
For the period ending 31 December 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 for the preparation of accounts.
The financial statements have been prepared in accordance with special provision of Part 15 of the Companies Act 2006 relating to small companies and with the provisions of FRS 102 Section 1A Small Entities.
Approved By the Board:
_________________________
T.M. Akehurst
Director 27 May 2025
Company number: 15104961
WIREMOCK LIMITED
Notes to the financial statements - 31 December 2024
1. Company Information
The company is a private limited company incorporated and domiciled in England & Wales. The address of its registered office is 5.2 Central House, 1 Ballards Lane, N3 1LQ.
The company is a wholly owned subsidiary of Wiremock Inc, a company registered in the US.
2. Accounting Policies
2.1 Basis of accounting
The financial statements have been prepared on a going concern basis, under historical cost convention.
The financial statements have been prepared under FRS 102 Section 1A small entities.
The financial statements are presented in sterling (£).
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2.2 Financial instruments
The company has chosen to adapt the sections 11 & 12 of FRS 102 in respect of financial instruments:
(i) Financial assets
Basic financial assets including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at present value of the future receipts discounted at the market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method and are assess for objective evidence of impairment at the end of each reporting period.
(ii) Financial liabilities
Basic financial liabilities including trade and other payable are initially recognised at transaction price unless arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market value of interest debt instruments are subsequently carried at amortised costs using the effective interest rate method.
2.3 Going Concern
The company has a positive capital and reserve and positive net current assets.
The company is profitable and will continue to be profitable in the future as according to the group TP policy, the company is entitled to a fixed margin on the services provided to the parent company. The company and theWiremock group are both operationally and financially inextricably linked. Having considered the post year trading and financial results of the group and the group's cash reserves, and after making enquiries of the directors of the parent undertaking, the directors have reasonable expectations that the company and the group have adequate resources to continue an operational existence and meet their liabilities for a period of at least 12 months from the date these financial statements were approved.
On the basis of the above, the directors consider it appropriate to prepare the financial statement on a going concern basis.
2.4 Turnover
Turnover represents net invoiced services, excluding VAT.
WIREMOCK LIMITED
Notes to the financial statements - 31 December 2024
2. Accounting Policies (continued)
2.5 Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amounts receivable for services rendered during the year.
2.6 Tangible fixed assets
Plant and equipment:
Fixed assets are disclosed at cost less impairment charge. Depreciation is provided at the following annual rates in order to write off the assets over their estimated useful lives:
Computer - 33% straight line.
Furniture - 7% straight line.
2.7 Debtors
Short term debtors that includes trade and other receivables are measured at transaction price, less any impairment.
2.8 Creditors
Basic financial liabilities including trade and other payable are measured at transaction price.
2.9 Current & deferred taxation
Deferred taxation is provided using the liability method to take into account timing from the inclusion of items of expenditure in taxation computations in periods that differ from those differences arising in which they are included in the financial statements to the extent that it is probably that an or assets will crystallize in the future.
Provision for deferred taxation is set off against debit balance of deferred taxation.
The current income tax charged is calculated on the basis of the tax rate and laws that have been enacted or substantially enacted by the reporting date in the countries where the company operated and generates income.
2.1 Foreign currencies
Assets and liabilities in foreign currencies are translated into Sterling at the rate of
exchange ruling at the Balance Sheet date. Transaction in Foreign currencies are translated
into Sterling at the rate of exchange ruling at the date of the transaction.
2.11 Employee benefits
The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.
(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are
recognised as an expense in the period in which the service is received.
WIREMOCK LIMITED
Notes to the financial statements - 31 December 2024
2. Accounting Policies (continued)
2.11 Employee benefits (continued)
(ii) Defined contribution pension plans
The company operated 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 when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
(iii) Bonus plan
The company operates annual bonus plan for employees and expense is recognised in the profit and loss account when the company has a legal or constructive obligation to make payment under and loss account when the company has a legal or constructive obligation to make the plan as a result of passed events and reliable estimation of the obligation can be made.payment under the plan as a result of passed events and reliable estimation of the obligation can be made.
(iv) Share based payments
The company participates in a share based payment arrangement established by its ultimate parent company. The company recognises the share based payment expense based on the relative remuneration cost of the relevant employees. The corresponding credit is recognised as a component of equity.
3. Directors' remuneration
No remunerations were paid to any of the directors during the year.
4. Employees
2024
Average number of employees 6
WIREMOCK LIMITED
Notes to the financial statements - 31 December 2024
5. Tangible fixed assets
Plant & machinery
Computers Furniture Total
£ £ £
Cost:
Additions 3,006 3,750 6,756
At 31 December 2024 3,006 3,750 6,756
Depreciation:
Charge for the Year 751 262 1,013
At 31 December 2024 751 262 1,013
Net Book Value:
At 31 December 2024 2,255 3,488 5,743
6. Debtors
31.12.2024
£
Parent company 44,280
Rent deposit 6,500
VAT 2,671
Prepayments 3,659
57,110
7. Creditors: amounts falling due
within one year
31.12.2024
£
Corporation tax 16,194
Pension 1,468
Accruals 3,000
20,662
8. Deferred tax liability
Deferred tax liability net of deferred tax asset is not included as the amount is immaterial.
WIREMOCK LIMITED
Notes to the financial statements - 31 December 2024
9. Share capital
31.12.2024
£
Allotted, called up and fully paid:
100 ordinary shares at £0.01 1
10. Related Party Transactions
Control
The company is a wholly owned subsidiary of Wiremock Inc, a foreign limited company registered in the USA whose address is: 425 Pope Street, Menlo Park, California, 4025, USA.
Wiremock Inc is the smallest and largest group to prepare consolidated accounts that can be obtained from its registered office.
Transactions
The company is exempt from disclosing transactions with related parties that are wholly owned within the same group in accordance with FRS 102 Section 33(1)A.
11. Commitment
The company does not have any annual commitment as at 31.12.2024.
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