Webscape Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08210725 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

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 3AX

REGISTERED NUMBER:

08210725 (England and Wales)

ACCOUNTANTS:

THP Limited

Chartered Accountants

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

17,486

21,666

CURRENT ASSETS

Stocks

107,112

118,762

Debtors

5

713,179

1,226,427

Investments

6

371,866

1,249,629

Cash at bank and in hand

699,170

400,370

1,891,327

2,995,188

CREDITORS

Amounts falling due within one year

7

181,679

338,693

NET CURRENT ASSETS

1,709,648

2,656,495

TOTAL ASSETS LESS CURRENT LIABILITIES

1,727,134

2,678,161

PROVISIONS FOR LIABILITIES

2,467

3,098

NET ASSETS

1,724,667

2,675,063

CAPITAL AND RESERVES

Called up share capital

327

327

Share premium

2,673

2,673

Retained earnings

1,721,667

2,672,063

SHAREHOLDERS' FUNDS

1,724,667

2,675,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 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 20 March 2024 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 period 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 period 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 period was 13 (2022 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Short

Improvements

leasehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2022

9,669

7,378

2,857

Additions

-

-

-

At 30 March 2023

9,669

7,378

2,857

DEPRECIATION

At 1 April 2022

4,306

3,608

2,574

Charge for period

861

1,312

210

At 30 March 2023

5,167

4,920

2,784

NET BOOK VALUE

At 30 March 2023

4,502

2,458

73

At 31 March 2022

5,363

3,770

283

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

145,107

41,581

206,592

Additions

-

10,524

10,524

At 30 March 2023

145,107

52,105

217,116

DEPRECIATION

At 1 April 2022

136,258

38,180

184,926

Charge for period

4,694

7,627

14,704

At 30 March 2023

140,952

45,807

199,630

NET BOOK VALUE

At 30 March 2023

4,155

6,298

17,486

At 31 March 2022

8,849

3,401

21,666

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,128

24,628

Amounts owed by group undertakings

604,161

884,171

Other debtors

94,417

262,769

Prepayments and accrued income

13,473

54,859

713,179

1,226,427

6.	CURRENT ASSET INVESTMENTS

2023

2022

£

£

Unlisted investments

241,339

241,000

Bitcoin

130,527

1,008,629

371,866

1,249,629

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

9,510

44,073

Corporation tax

-

13,160

Social security and other taxes

5,702

8,855

VAT

6,566

7,772

Other creditors

136,594

42,448

Director's loan account

-

35,429

Accrued expenses

23,307

186,956

181,679

338,693

8.	RELATED PARTY DISCLOSURES

Included in debtors is an amount due from Easytek Limited of £604,161 (2022: £884,171), 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 £6,578 (2022: £921).