Webscape Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08210725 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

WEBSCAPE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Wyer-Roberts

REGISTERED OFFICE:

27 Old Gloucester Street

London

WC1N 3AF

REGISTERED NUMBER:

08210725 (England and Wales)

ACCOUNTANTS:

THP Limited

Chartered Accountants

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

21,666

28,788

CURRENT ASSETS

Stocks

118,762

117,842

Debtors

5

1,226,427

1,434,598

Investments

6

1,249,629

695,492

Cash at bank and in hand

400,370

969,093

2,995,188

3,217,025

CREDITORS

Amounts falling due within one year

7

338,693

529,083

NET CURRENT ASSETS

2,656,495

2,687,942

TOTAL ASSETS LESS CURRENT LIABILITIES

2,678,161

2,716,730

PROVISIONS FOR LIABILITIES

3,098

4,287

NET ASSETS

2,675,063

2,712,443

CAPITAL AND RESERVES

Called up share capital

327

327

Share premium

2,673

2,673

Retained earnings

2,672,063

2,709,443

SHAREHOLDERS' FUNDS

2,675,063

2,712,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 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 director and authorised for issue on 15 December 2022 and were signed by:

J Wyer-Roberts - Director

1.	STATUTORY INFORMATION

Webscape 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes. Revenue is recognised when goods are despatched to the customer, such that the risks and rewards of ownership have passed to them.

Tangible fixed assets

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

Short leasehold property

-

Over the period of the lease

Improvements to property

-

Over the period of the lease

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 15 (2021 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Short

Improvements

leasehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2021

9,669

7,378

2,857

Additions

-

-

-

At 31 March 2022

9,669

7,378

2,857

DEPRECIATION

At 1 April 2021

3,445

2,296

2,266

Charge for year

861

1,312

308

At 31 March 2022

4,306

3,608

2,574

NET BOOK VALUE

At 31 March 2022

5,363

3,770

283

At 31 March 2021

6,224

5,082

591

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2021

141,557

37,539

199,000

Additions

3,550

4,042

7,592

At 31 March 2022

145,107

41,581

206,592

DEPRECIATION

At 1 April 2021

130,881

31,324

170,212

Charge for year

5,377

6,856

14,714

At 31 March 2022

136,258

38,180

184,926

NET BOOK VALUE

At 31 March 2022

8,849

3,401

21,666

At 31 March 2021

10,676

6,215

28,788

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

24,628

26,150

Amounts owed by group undertakings

884,171

1,144,171

Other debtors

262,769

250,746

VAT

-

10,873

Prepayments and accrued income

54,859

2,658

1,226,427

1,434,598

6.	CURRENT ASSET INVESTMENTS

2022

2021

£

£

Unlisted investments

241,000

-

Bitcoin

1,008,629

695,492

1,249,629

695,492

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

44,073

38,188

Corporation tax

13,160

302,546

Social security and other taxes

8,855

10,663

VAT

7,772

-

Other creditors

42,448

89,539

Director's loan account

35,429

31,751

Accrued expenses

186,956

56,396

338,693

529,083

8.	RELATED PARTY DISCLOSURES

Included in debtors is an amount due from Easytek Limited of £884,171 (2021: £1,144,171), a company in which the director and shareholders of Webscape Limited are also shareholders. This loan is interest free and repayable on demand.

During the year a management charge was paid to Easytek Limited of £921 (2021:£166,056).