REGISTERED NUMBER: 05094370 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

WASP SOFTWARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M G Brett

J P Brock

S Goodinson

REGISTERED OFFICE:

Pear Tree House

Birch Cross

Marchington

Uttoxeter

Staffordshire

ST14 8NU

REGISTERED NUMBER:

05094370 (England and Wales)

ACCOUNTANTS:

Bradley Accounting Plus Ltd

41 St John Street

Ashbourne

Derbyshire

DE6 1GP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

19,755

24,304

19,755

24,304

CURRENT ASSETS

Debtors

6

286,829

324,735

Prepayments and accrued income

545

2,437

Cash at bank

10,196

65,671

297,570

392,843

CREDITORS

Amounts falling due within one year

7

75,858

80,540

NET CURRENT ASSETS

221,712

312,303

TOTAL ASSETS LESS CURRENT LIABILITIES

241,467

336,607

PROVISIONS FOR LIABILITIES

8

-

(328

)

ACCRUALS AND DEFERRED INCOME

(175,664

)

(226,549

)

NET ASSETS

65,803

109,730

CAPITAL AND RESERVES

Called up share capital

175

175

Retained earnings

65,628

109,555

SHAREHOLDERS' FUNDS

65,803

109,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2025 and were signed on its behalf by:

M G Brett - Director

1.	STATUTORY INFORMATION

Wasp Software Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Intangible assets - other

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Intangible assets are amortised on a straight-line bias over their useful lives. The useful lives of intangible assets are as follows

Development expenditure 3 years

Computer software 3 years

Provision is made for any impairment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Office

-

10% on cost

Office equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 discounted.

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

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 deferred 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Software

development

£

COST

At 1 April 2024

and 31 March 2025

30,000

AMORTISATION

At 1 April 2024

and 31 March 2025

30,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Office

Office

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

28,220

14,866

43,086

DEPRECIATION

At 1 April 2024

5,644

13,138

18,782

Charge for year

2,821

1,728

4,549

At 31 March 2025

8,465

14,866

23,331

NET BOOK VALUE

At 31 March 2025

19,755

-

19,755

At 31 March 2024

22,576

1,728

24,304

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Office

equipment

£

COST

At 1 April 2024

7,196

Transfer to ownership

(7,196

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

7,196

Transfer to ownership

(7,196

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

272,094

294,600

Other debtors

-

600

Research & Development Credit

14,448

29,248

Tax

287

287

286,829

324,735

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

2,405

Trade creditors

-

6,115

Social security and other taxes

6,807

9,287

VAT

49,949

53,122

Directors' current accounts

19,102

9,611

75,858

80,540

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

-

328

Deferred

tax

£

Balance at 1 April 2024

328

Provided during year

(328

)

Accelerated capital allowances

Balance at 31 March 2025

-