Wegiz Ltd 08660183 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the importation of fine foods. Digita Accounts Production Advanced 6.30.9574.0 true 08660183 2023-09-01 2024-08-31 08660183 2024-08-31 08660183 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-08-31 08660183 core:CurrentFinancialInstruments 2024-08-31 08660183 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 08660183 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 08660183 core:FurnitureFittingsToolsEquipment 2024-08-31 08660183 bus:SmallEntities 2023-09-01 2024-08-31 08660183 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 08660183 bus:FilletedAccounts 2023-09-01 2024-08-31 08660183 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 08660183 bus:RegisteredOffice 2023-09-01 2024-08-31 08660183 bus:Director1 2023-09-01 2024-08-31 08660183 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-09-01 2024-08-31 08660183 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08660183 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 08660183 countries:EnglandWales 2023-09-01 2024-08-31 08660183 core:FurnitureFittingsToolsEquipment 2023-08-31 08660183 2022-09-01 2023-08-31 08660183 2023-08-31 08660183 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-08-31 08660183 core:CurrentFinancialInstruments 2023-08-31 08660183 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 08660183 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 08660183 core:FurnitureFittingsToolsEquipment 2023-08-31 08660183 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08660183

Wegiz Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Wegiz Ltd

(Registration number: 08660183)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,525

4,652

Current assets

 

Debtors

5

56,298

56,494

Cash at bank and in hand

 

22,626

32,069

 

78,924

88,563

Creditors: Amounts falling due within one year

6

(59,227)

(65,325)

Net current assets

 

19,697

23,238

Total assets less current liabilities

 

23,222

27,890

Creditors: Amounts falling due after more than one year

6

(1,621)

(3,603)

Net assets

 

21,601

24,287

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

21,600

24,286

Shareholders' funds

 

21,601

24,287

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 August 2025
 

Simone Gozzetti
Director

 

Wegiz Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71-75 Shelton Street
London
WC2H 9JQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Wegiz Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Wegiz Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Cost or valuation

At 1 September 2023

8,392

Additions

1,098

At 31 August 2024

9,490

Depreciation

At 1 September 2023

3,740

Charge for the year

2,225

At 31 August 2024

5,965

Carrying amount

At 31 August 2024

3,525

At 31 August 2023

4,652

5

Debtors

Current

2024
£

2023
£

Trade debtors

49,102

43,929

Prepayments

382

247

Other debtors

6,814

12,318

 

56,298

56,494

 

Wegiz Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

960

-

Trade creditors

49,620

60,332

Amounts owed to related parties

483

-

Taxation and social security

4,844

233

Accruals and deferred income

2,112

4,760

Other creditors

1,208

-

59,227

65,325

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

1,621

3,603

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £18,500.00 (2023 - £12,000.00) per each Ordinary share

18,500

12,000