Wales Interactive Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07819945 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2019

for

Wales Interactive Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A Banner MBE

R C Pring

REGISTERED OFFICE:

Games Laboratory

Pencoed Technology Park

Pencoed

Bridgend

CF35 5HZ

REGISTERED NUMBER:

07819945 (England and Wales)

ACCOUNTANTS:

Curtis Bowden & Thomas Limited

Chartered Certified Accountants

101 Dunraven Street

Tonypandy

CF40 1AR

Fixed assets

Tangible assets

4

12,657

11,436

Current assets

Debtors

5

519,878

312,462

Cash at bank

797,156

836,010

1,317,034

1,148,472

Creditors

Amounts falling due within one year

6

18,259

146,615

Net current assets

1,298,775

1,001,857

Total assets less current liabilities

1,311,432

1,013,293

Provisions for liabilities

2,405

2,287

Net assets

1,309,027

1,011,006

Capital and reserves

Called up share capital

1,000

1,000

Retained earnings

1,308,027

1,010,006

1,309,027

1,011,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 on 16 January 2020 and were signed on its behalf by:

D A Banner MBE - Director

R C Pring - Director

1.	STATUTORY INFORMATION

Wales Interactive 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 November 2018

28,174

Additions

5,446

At 31 October 2019

33,620

Depreciation

At 1 November 2018

16,738

Charge for year

4,225

At 31 October 2019

20,963

Net book value

At 31 October 2019

12,657

At 31 October 2018

11,436

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade debtors

-

24,462

Other debtors

519,878

288,000

519,878

312,462

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade creditors

3,000

3,019

Taxation and social security

11,181

143,596

Other creditors

4,078

-

18,259

146,615

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £82,840 (2018 - £75,900) were paid to the directors .

As at 31 October 2019, the company was owed £516,100 from Wales Interactive Group Limited. This relates to

an intercompany loan with the company's parent company. This amount is interest free and repayable within one

year.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Wales Interactive Group Limited by virtue of its holding all of the shares in Wales

Interactive Limited. However, the ultimate controlling party is the directors who hold the entire share capital of

Wales Interactive Group Limited.