Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312137false672024-01-01No description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12324813 2024-01-01 2024-12-31 12324813 2023-01-01 2023-12-31 12324813 2024-12-31 12324813 2023-12-31 12324813 c:Director1 2024-01-01 2024-12-31 12324813 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 12324813 d:Buildings d:ShortLeaseholdAssets 2024-12-31 12324813 d:Buildings d:ShortLeaseholdAssets 2023-12-31 12324813 d:PlantMachinery 2024-01-01 2024-12-31 12324813 d:PlantMachinery 2024-12-31 12324813 d:PlantMachinery 2023-12-31 12324813 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12324813 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12324813 d:FurnitureFittings 2024-01-01 2024-12-31 12324813 d:FurnitureFittings 2024-12-31 12324813 d:FurnitureFittings 2023-12-31 12324813 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12324813 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12324813 d:OfficeEquipment 2024-01-01 2024-12-31 12324813 d:OfficeEquipment 2024-12-31 12324813 d:OfficeEquipment 2023-12-31 12324813 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12324813 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12324813 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12324813 d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 12324813 d:Goodwill 2024-12-31 12324813 d:Goodwill 2023-12-31 12324813 d:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 12324813 d:CurrentFinancialInstruments 2024-12-31 12324813 d:CurrentFinancialInstruments 2023-12-31 12324813 d:Non-currentFinancialInstruments 2024-12-31 12324813 d:Non-currentFinancialInstruments 2023-12-31 12324813 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 12324813 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12324813 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 12324813 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12324813 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 12324813 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 12324813 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 12324813 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 12324813 d:ShareCapital 2024-12-31 12324813 d:ShareCapital 2023-12-31 12324813 d:RetainedEarningsAccumulatedLosses 2024-12-31 12324813 d:RetainedEarningsAccumulatedLosses 2023-12-31 12324813 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 12324813 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 12324813 c:OrdinaryShareClass1 2024-01-01 2024-12-31 12324813 c:OrdinaryShareClass1 2024-12-31 12324813 c:OrdinaryShareClass1 2023-12-31 12324813 c:FRS102 2024-01-01 2024-12-31 12324813 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 12324813 c:FullAccounts 2024-01-01 2024-12-31 12324813 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12324813 d:WithinOneYear 2024-12-31 12324813 d:WithinOneYear 2023-12-31 12324813 d:BetweenOneFiveYears 2024-12-31 12324813 d:BetweenOneFiveYears 2023-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 12324813 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 12324813 2 2024-01-01 2024-12-31 12324813 d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 12324813 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 12324813 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-01-01 2024-12-31 12324813 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12324813










WAUX LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
WAUX LTD
REGISTERED NUMBER: 12324813

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible Assets
 4 
2,940
3,600

Tangible assets
 5 
62,213
47,539

  
65,153
51,139

Current assets
  

Stocks
 6 
385,821
262,695

Debtors: amounts falling due within one year
 7 
135,903
214,834

Cash at bank and in hand
 8 
10,887
63,658

  
532,611
541,187

Creditors: amounts falling due within one year
 9 
(275,720)
(244,477)

Net current assets
  
 
 
256,891
 
 
296,710

Total assets less current liabilities
  
322,044
347,849

Creditors: amounts falling due after more than one year
 10 
(266,794)
(235,882)

Provisions for liabilities
  

Deferred tax
 12 
(11,303)
(6,288)

  
 
 
(11,303)
 
 
(6,288)

Net assets
  
43,947
105,679


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
43,847
105,579

  
43,947
105,679


Page 1

 
WAUX LTD
REGISTERED NUMBER: 12324813

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 




K R Cooper
Director

Date: 24 April 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES

 
1.1

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
1.2

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:

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.

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.

 
1.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

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.

Page 3

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.5

BORROWING COSTS

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

 
1.6

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.

 
1.7

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.


 
1.8

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
4
years
Other intangible fixed assets
-
10
years

Page 4

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.9

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.

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:

Land and buildings
-
20%
straight line
Plant and machinery
-
20%
straight line
Fixtures and fittings
-
20%
straight line
Office equipment
-
33%
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.

 
1.10

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 first in, first out 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.

 
1.11

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.

 
1.12

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.

 
1.13

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

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.14

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.15

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

Page 6

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.


GENERAL INFORMATION

Waux Ltd is a limited company incorporated in England and Wales. The Company's registered office is The Stables, Little Coldharbour Farm, Tong Lane, Lamberhurst, Tunbridge Wells, Kent, TN3 8AD.


3.


EMPLOYEES

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







7
6


4.


INTANGIBLE ASSETS




Patents
Goodwill
Total

£
£
£



Cost


At 1 January 2024
8,157
30,000
38,157


Additions
1,754
-
1,754



At 31 December 2024

9,911
30,000
39,911



Amortisation


At 1 January 2024
4,557
30,000
34,557


Charge for the year on owned assets
2,415
-
2,415



At 31 December 2024

6,972
30,000
36,972



Net book value



At 31 December 2024
2,939
-
2,939



At 31 December 2023
3,600
-
3,600



Page 7

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


TANGIBLE FIXED ASSETS





Land and buildings
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
17,273
47,556
-
11,068
75,897


Additions
4,095
2,423
19,027
6,880
32,425



At 31 December 2024

21,368
49,979
19,027
17,948
108,322



Depreciation


At 1 January 2024
-
19,531
-
8,827
28,358


Charge for the year on owned assets
-
9,849
3,166
2,600
15,615


Charge for the year on leased assets
2,137
-
-
-
2,137



At 31 December 2024

2,137
29,380
3,166
11,427
46,110



Net book value



At 31 December 2024
19,231
20,599
15,861
6,521
62,212



At 31 December 2023
17,273
28,025
-
2,241
47,539




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Short leasehold
19,231
17,273



6.


STOCKS

2024
2023
£
£

Raw materials and consumables
385,331
227,295

Work in progress
490
35,400

385,821
262,695


Page 8

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


DEBTORS

2024
2023
£
£


Trade debtors
34,194
88,048

Other debtors
101,709
126,786

135,903
214,834



8.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
10,887
63,658



9.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,648
10,648

Other loans
44,000
70,000

Trade creditors
144,669
49,781

Other taxation and social security
54,003
55,524

Other creditors
22,400
58,524

275,720
244,477



10.


CREDITORS: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,871
15,967

Other loans
162,022
121,014

Director's loan account
98,901
98,901

266,794
235,882


Page 9

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


LOANS


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,648
10,648

Other loans
44,000
70,000


54,648
80,648

Amounts falling due 1-2 years

Bank loans
5,871
10,648

Other loans
-
60,000


5,871
70,648

Amounts falling due 2-5 years

Bank loans
-
5,319

Other loans
162,022
61,014


162,022
66,333


222,541
217,629



12.


DEFERRED TAXATION




2024


£






At beginning of year
(6,288)


Charged to profit or loss
(5,015)



At end of year
(11,303)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(11,303)
(6,288)

Page 10

 
WAUX LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


SHARE CAPITAL

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £100.00
100
100



14.


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 charge represents contributions payable by the Company  to the fund and amounted to £986 (2023 - £776) . Contributions totalling £160 (2023 - £160) were payable to the fund at the balance sheet date and are included in creditors.


15.


COMMITMENTS UNDER OPERATING LEASES

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
129,154
106,433

Later than 1 year and not later than 5 years
336,085
445,486

465,239
551,919


Page 11