Microwide Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03339272 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Microwide Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J Chami

REGISTERED OFFICE:

82 Broad Street

Chipping Sodbury

Bristol

BS37 6AG

REGISTERED NUMBER:

03339272 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

FIXED ASSETS

Property, plant and equipment

4

-

100

Investment property

5

-

352,966

-

353,066

CURRENT ASSETS

Cash at bank

336,872

1,616

CREDITORS

Amounts falling due within one year

6

6,156

101,599

NET CURRENT ASSETS/(LIABILITIES)

330,716

(99,983

)

TOTAL ASSETS LESS CURRENT LIABILITIES

330,716

253,083

PROVISIONS FOR LIABILITIES

-

8,325

NET ASSETS

330,716

244,758

CAPITAL AND RESERVES

Called up share capital

10

10

Fair value reserve

7

-

35,489

Retained earnings

330,706

209,259

SHAREHOLDERS' FUNDS

330,716

244,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 13 April 2023 and were signed by:

J Chami - Director

1.	STATUTORY INFORMATION

Microwide 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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment properties are recorded at valuation.No depreciation is provided on freehold properties as such assets are not held for consumption, but as investments, and the properties are well maintained and externally valued on a regular open market basis.

Any surplus or deficit arising on revaluing investment properties is recognised in the in the statement of comprehensive income in the year.. Disposals are recognised on completion. Profits and losses arising are recognised through the profit and loss account; the profit on disposal is determined as the difference between the sales proceeds and the carrying amount of the asset at the commencement of the accounting period plus additions in the period.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2022 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

650

2,483

3,133

Disposals

(650

)

(2,483

)

(3,133

)

At 31 March 2023

-

-

-

DEPRECIATION

At 1 April 2022

550

2,483

3,033

Charge for year

100

-

100

Eliminated on disposal

(650

)

(2,483

)

(3,133

)

At 31 March 2023

-

-

-

NET BOOK VALUE

At 31 March 2023

-

-

-

At 31 March 2022

100

-

100

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

352,966

Disposals

(352,966

)

At 31 March 2023

-

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

352,966

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Taxation and social security

1,484

3,548

Other creditors

4,672

98,051

6,156

101,599

7.

RESERVES

Fair

value

reserve

£

At 1 April 2022

35,489

Disposal of freehold property

(35,489

)

At 31 March 2023

-

8.	RELATED PARTY DISCLOSURES

9.	ULTIMATE CONTROLLING PARTY

The controlling party is J Chami.