Wireless Internet Technologies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07402070 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2018

for

Wireless Internet Technologies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr A J Richardson

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

BUSINESS ADDRESS:

John Tharp House

Chippenham Park

Chippenham

Cambridgeshire

CB7 5PT

REGISTERED NUMBER:

07402070 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

5,925

8,850

CURRENT ASSETS

Debtors

5

25,319

10,401

Cash at bank

5,874

503

31,193

10,904

CREDITORS

Amounts falling due within one year

6

17,002

17,863

NET CURRENT ASSETS/(LIABILITIES)

14,191

(6,959

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,116

1,891

PROVISIONS FOR LIABILITIES

7

1,126

251

NET ASSETS

18,990

1,640

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

18,890

1,540

SHAREHOLDERS' FUNDS

18,990

1,640

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 31 July 2019 and were signed by:

Dr A J Richardson - Director

1.	STATUTORY INFORMATION

Wireless Internet Technologies 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

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

3 years straight line

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.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is

an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use

and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is

lower, the carrying amount of the asset is written down to its estimated recoverable amount and an

impairment loss is recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

10,338

Additions

604

Disposals

(1,077

)

At 31 October 2018

9,865

DEPRECIATION

At 1 November 2017

1,488

Charge for year

3,171

Eliminated on disposal

(719

)

At 31 October 2018

3,940

NET BOOK VALUE

At 31 October 2018

5,925

At 31 October 2017

8,850

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

25,319

10,401

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

3,195

-

Other creditors

13,807

17,863

17,002

17,863

Other creditors includes a directors loan of £13,051 (2017: £17,143).

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Accelerated capital allowances

1,126

251

Deferred

tax

£

Balance at 1 November 2017

251

Charge to Income Statement during year

875

Balance at 31 October 2018

1,126

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100