Wysetech Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05084366 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Wysetech Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D. R. Ford-Young

SECRETARY:

A. M. De Vally-King

REGISTERED OFFICE:

42 The Arches

Alma Road

Windsor

Berkshire

SL4 1QZ

REGISTERED NUMBER:

05084366 (England and Wales)

ACCOUNTANTS:

Ingwe Services Limited

Pentax House

South Hill Avenue

South Harrow

Middlesex

HA2 0DU

FIXED ASSETS

Tangible assets

4

5,050

5,081

CURRENT ASSETS

Stocks

44,998

55,350

Debtors

5

61,532

29,320

Cash at bank

33,185

69,954

139,715

154,624

CREDITORS

Amounts falling due within one year

6

86,292

101,721

NET CURRENT ASSETS

53,423

52,903

TOTAL ASSETS LESS CURRENT LIABILITIES

58,473

57,984

PROVISIONS FOR LIABILITIES

802

763

NET ASSETS

57,671

57,221

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

57,669

57,219

SHAREHOLDERS' FUNDS

57,671

57,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 8 September 2017 and were signed by:

D. R. Ford-Young - Director

1.	STATUTORY INFORMATION

Wysetech Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 cost and 10% 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.

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.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in

preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

22,864

DEPRECIATION

At 1 January 2016

17,783

Charge for year

31

At 31 December 2016

17,814

NET BOOK VALUE

At 31 December 2016

5,050

At 31 December 2015

5,081

The director has reviewed the net book values of plant and equipment and revised the depreciation charge

accordingly.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

22,001

17,621

Other debtors

39,531

11,699

61,532

29,320

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

84,631

85,480

Taxation and social security

-

3,243

Other creditors

1,661

12,998

86,292

101,721

7.	RELATED PARTY DISCLOSURES

The company was controlled throughout the year by the director who owned 100% of the issued share capital.