Web Limitless Limited - Accounts to registrar (filleted) - small 18.2
Web Limitless Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 October 2019 |
| for |
| WEB LIMITLESS LIMITED |
| WEB LIMITLESS LIMITED (REGISTERED NUMBER: 09271259) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| WEB LIMITLESS LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Berkeley Suite |
| 35 Berkeley Square |
| Mayfair, London |
| W1J 5GF |
| WEB LIMITLESS LIMITED (REGISTERED NUMBER: 09271259) |
| Balance Sheet |
| 31 OCTOBER 2019 |
| 31.10.19 | 31.10.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges her 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. |
| 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 and authorised for issue on |
| WEB LIMITLESS LIMITED (REGISTERED NUMBER: 09271259) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| 1. | STATUTORY INFORMATION |
| Web Limitless Limited is a |
| 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 |
| Revenue recognition |
| Turnover shown in the profit and loss account represents on-line sale of subscription and is stated net of Value Added Tax. |
| It is recognised under an exchange transaction with the customer, when, and to the extent that the company obtains the right to |
| consideration in exchange for its performance. |
| Tangible fixed assets |
| 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: |
| Website - 25% straight line |
| Computer Equipment - 20% straight line |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. |
| Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange |
| differences are taken into account in arriving at the operating result. |
| 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. |
| Website development costs |
| Application and infrastructure, design and content development costs are capitalised within tangible fixed assets to the extent that they |
| lead to the creation of an enduring asset which generates future economic benefits. |
| WEB LIMITLESS LIMITED (REGISTERED NUMBER: 09271259) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Website | Computer |
| Development | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2018 |
| Additions |
| At 31 October 2019 |
| DEPRECIATION |
| At 1 November 2018 |
| Charge for year |
| At 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 November 2018 |
| and 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| The company holds 100% of the share capital in Sun Web Limited, incorporated in England and Wales. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.19 | 31.10.18 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| WEB LIMITLESS LIMITED (REGISTERED NUMBER: 09271259) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.19 | 31.10.18 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 5,915 | - |
| Other creditors |
| Directors' current accounts | 12,667 | 99,167 |
| Accruals and deferred income | ( |
) |
| 8. | PROVISIONS FOR LIABILITIES |
| 31.10.19 | 31.10.18 |
| £ | £ |
| Deferred tax | 7,256 | 21,297 |
| Deferred tax |
| £ |
| Balance at 1 November 2018 |
| Provided during year | ( |
) |
| Balance at 31 October 2019 |
| 9. | RELATED PARTY DISCLOSURES |
| No transactions with related parties were undertaken such as are required to be disclosed under FRS102 section 1A other than that |
| disclosed in notes 8 & 9. |