Company Registration No. 05945471 (England and Wales)
Waste Logics Software Limited
Unaudited accounts
for the year ended 30 September 2024
Waste Logics Software Limited
Unaudited accounts
Contents
Waste Logics Software Limited
Company Information
for the year ended 30 September 2024
Directors
Miss Geeta Chandra
Mrs Bindu Chandra
Secretary
Miss Geeta Chandra
Company Number
05945471 (England and Wales)
Registered Office
7 Bell Yard
London
WC2A 2JR
Accountants
Evolve Accounting and Tax Solutions Ltd
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
Waste Logics Software Limited
Statement of financial position
as at 30 September 2024
Intangible assets
463,302
358,491
Tangible assets
15,883
15,677
Cash at bank and in hand
587,425
293,879
Creditors: amounts falling due within one year
(855,854)
(674,407)
Net current assets/(liabilities)
128,806
(112,866)
Net assets
607,991
261,302
Called up share capital
142
142
Profit and loss account
602,511
255,822
Shareholders' funds
607,991
261,302
For the year ending 30 September 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by
Miss Geeta Chandra
Director
Company Registration No. 05945471
Waste Logics Software Limited
Notes to the Accounts
for the year ended 30 September 2024
Waste Logics Software Limited is a private company, limited by shares, registered in England and Wales, registration number 05945471. The registered office is 7 Bell Yard, London, WC2A 2JR.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in pounds sterling and are rounded to the nearest £1.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Computer software development costs is being amortised evenly over its estimated useful life of five years.
Computer software development costs
The company has now substantially completed the development of its core package of the job management system; all costs relation to this software have been capitalised. The cost of the product is to be written off on a straight line basis over a five year period commencing with the year ended 30 September 2010.
The company has now substantially completed the development of two new modules that can be used with the core package of the job management system; all costs relating tot this software development have been capitalised. The cost of these products are to be written off on a straight line basis over a five year period commencing in the current year.
The company will also continue to develop other software products connected to the same industry and again the costs of each product will be capitalised until the product is substantially complete. Amortisation of these products will be assessed by the directors on an ongoing basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on reducing balance
Computer equipment
25% on cost
Waste Logics Software Limited
Notes to the Accounts
for the year ended 30 September 2024
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not disclosed.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Other
At 30 September 2024
1,168,887
Charge for the year
170,343
At 30 September 2024
705,585
At 30 September 2024
463,302
At 30 September 2023
358,491
Waste Logics Software Limited
Notes to the Accounts
for the year ended 30 September 2024
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2023
3,755
44,614
48,369
At 30 September 2024
3,755
54,893
58,648
At 1 October 2023
2,400
30,292
32,692
Charge for the year
271
9,802
10,073
At 30 September 2024
2,671
40,094
42,765
At 30 September 2024
1,084
14,799
15,883
At 30 September 2023
1,355
14,322
15,677
Amounts falling due within one year
Trade debtors
133,578
245,071
Accrued income and prepayments
19,088
9,520
Other debtors
244,569
13,071
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
53,972
68,885
Taxes and social security
24,380
16,561
Other creditors
4,061
4,341
Loans from directors
127,654
174,187
Deferred income
475,850
295,954
Allotted, called up and fully paid:
1,420 Ordinary shares of £0.10 each
142
142
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Average number of employees
During the year the average number of employees was 25 (2023: 21).