Weesleekit Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC240898 (Scotland)

Unaudited Financial Statements for the Year Ended 31st March 2017

for

Weesleekit Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

E Green

Ms L Whyte

REGISTERED OFFICE:

Annandale House

The Crichton

Dumfries

Dumfriesshire

DG1 4TA

REGISTERED NUMBER:

SC240898 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Intangible assets

4

-

8,672

Tangible assets

5

-

16,180

-

24,852

CURRENT ASSETS

Debtors

6

63,429

25,508

Cash at bank and in hand

-

38,511

63,429

64,019

CREDITORS

Amounts falling due within one year

7

-

(22,503

)

NET CURRENT ASSETS

63,429

41,516

TOTAL ASSETS LESS CURRENT LIABILITIES

63,429

66,368

PROVISIONS FOR LIABILITIES

-

(2,939

)

NET ASSETS

63,429

63,429

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

63,329

63,329

SHAREHOLDERS' FUNDS

63,429

63,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 23rd May 2017 and were signed on its behalf by:

E Green - Director

1.	STATUTORY INFORMATION

Weesleekit Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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

-

15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

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.

Pension costs and other post-retirement benefits

The company does not operate a pension scheme but makes contributions to a directors personal pension scheme on his

behalf.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2016

20,000

Disposals

(20,000

)

At 31st March 2017

-

AMORTISATION

At 1st April 2016

11,328

Eliminated on disposal

(11,328

)

At 31st March 2017

-

NET BOOK VALUE

At 31st March 2017

-

At 31st March 2016

8,672

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1st April 2016

37,860

3,992

41,852

Disposals

(37,860

)

(3,992

)

(41,852

)

At 31st March 2017

-

-

-

DEPRECIATION

At 1st April 2016

22,987

2,685

25,672

Eliminated on disposal

(22,987

)

(2,685

)

(25,672

)

At 31st March 2017

-

-

-

NET BOOK VALUE

At 31st March 2017

-

-

-

At 31st March 2016

14,873

1,307

16,180

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

25,048

BDS Data Loan

63,429

-

Prepayments and accrued income

-

460

63,429

25,508

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

600

Tax

-

5,465

Social security and other taxes

-

13,256

Deferred Income

-

2,772

Accrued expenses

-

410

-

22,503

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31st March 2016, any monies owed to S Kirkpatrick were repaid in full. (2015: £14,442).

9.	RELATED PARTY DISCLOSURES

Weesleekit Limited is wholly owned by Bibliographic Data Services Limited.

The company provided goods and services to Bibliographic Data Services Limited to the value of £Nil (2016:£31,995).

10.	ULTIMATE CONTROLLING PARTY

The entire share capital of the company is owned by Bibliographic Data Services Limited, who are the ultimate controlling

party.

11.	FINANCIAL INSTRUMENTS

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are

readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of he

business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged

to customers, including any amounts charged on for third parties.

Trade Creditors

Trade creditors are obligations o pay for goods or services that have been acquired in the ordinary course of the business

from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the

reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an

unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current

liabilities.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are

subsequently carried at amortised cost, with the difference between proceeds, net of transactions costs, and the amount due

on redemption recognised as a charge to the profit and loss account over the period of the relevant borrowing.