Wayware Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02327766

Wayware Limited

Unaudited financial statements

31 March 2025

Wayware Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6	9,527,228	9,625,942
Investments	7	2	2
		-----------	-----------
		9,527,230	9,625,944

Current assets

Stocks		402,419	300,467
Debtors	8	89,174	170,594
Cash at bank and in hand		309,326	301,590
		---------	---------
		800,919	772,651

Creditors: amounts falling due within one year	9	( 4,970,671)		( 5,450,087)
		-----------		-----------
Net current liabilities			( 4,169,752)		( 4,677,436)
			-----------		-----------
Total assets less current liabilities			5,357,478		4,948,508

Creditors: amounts falling due after more than one year	10		( 334,832)		( 139,650)

Provisions

Taxation including deferred tax	( 89,910)	( 36,556)
	-----------	-----------
Net assets	4,932,736	4,772,302
	-----------	-----------

Capital and reserves

Called up share capital	11	13,000	13,000
Share premium account		3,397,500	3,397,500
Profit and loss account		1,522,236	1,361,802
		-----------	-----------
Shareholders funds		4,932,736	4,772,302
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Wayware Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 13 October 2025 , and are signed on behalf of the board by:

Mrs P A M Peal	Mr J C K Sladden
Director	Director

Company registration number: 02327766

Wayware Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Southrepps Hall, Southrepps, Norfolk, NR11 8TG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the profit or loss.

Turnover

The turnover shown in the profit and loss account represents the amount of goods and services provided during the year, exclusive of Value Added Tax. Turnover is recognised when the goods are physically delivered or the services are actually provided to the customer.

Deferred taxation

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessorare charge against profits on a straight line basis over the period of the lease.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Tractors, machinery and equipment	-	10% to 33% reducing balance
Motor vehicles	-	25% reducing balance

Freehold land is not depreciated.

Valuation

Commodity stocks and cultivations are valued at the lower of cost and net realisable value by the directors after making due allowance for obsolete and slow moving items.

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4. Staff costs

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

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	53,354	6,815
	-------	------
Tax on profit	53,354	6,815
	-------	------

6. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Investment property	Total
	£	£	£	£	£
Cost
At 1 April 2024	7,937,546	1,934,890	32,026	796,838	10,701,300
Additions	–	5,165	–	–	5,165
	-----------	-----------	-------	---------	------------
At 31 March 2025	7,937,546	1,940,055	32,026	796,838	10,706,465
	-----------	-----------	-------	---------	------------
Depreciation
At 1 April 2024	–	1,055,115	20,243	–	1,075,358
Charge for the year	–	100,932	2,947	–	103,879
	-----------	-----------	-------	---------	------------
At 31 March 2025	–	1,156,047	23,190	–	1,179,237
	-----------	-----------	-------	---------	------------
Carrying amount
At 31 March 2025	7,937,546	784,008	8,836	796,838	9,527,228
	-----------	-----------	-------	---------	------------
At 31 March 2024	7,937,546	879,775	11,783	796,838	9,625,942
	-----------	-----------	-------	---------	------------

7. Investments

	Total
	£
Cost
At 1 April 2024 and 31 March 2025	2
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	2
	----
At 31 March 2024	2
	----

8. Debtors

	2025	2024
	£	£
Trade debtors	26,330	121,282
Other debtors	62,844	49,312
	-------	---------
	89,174	170,594
	-------	---------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans	100,000	865,439
Trade creditors	85,746	142,308
Social security and other taxes	4,116	4,775
Iceni (Anglia) Limited	33,301	33,301
Other creditors	4,747,508	4,404,264
	-----------	-----------
	4,970,671	5,450,087
	-----------	-----------

Included in creditors falling due within one year are bank loans and overdrafts of £100,000 (2024 -£865,439) and hire purchases agreements of £89,539 (2024 - £156,819) secured by the company.

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans	283,275	–
Other creditors	51,557	139,650
	---------	---------
	334,832	139,650
	---------	---------

Included in creditors falling due after more than one year are bank loans and overdrafts of £283,275 (2024 - £nil) and hire purchase agreements of £51,557 (2024 - £139,650) secured by the company.

11. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	13,000	13,000	13,000	13,000
	-------	-------	-------	-------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	13,000	13,000	13,000	13,000
	-------	-------	-------	-------