Web Innov8 (UK) Limited - Accounts to registrar (filleted) - small 18.1
Web Innov8 (UK) Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2017 |
| for |
| Web Innov8 (UK) Limited |
| Web Innov8 (UK) Limited (Registered number: 08579802) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Web Innov8 (UK) Limited |
| Company Information |
| for the Year Ended 30 June 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 3 Kingfisher Court |
| Bowesfield Park |
| Stockton on Tees |
| TS18 3EX |
| Web Innov8 (UK) Limited (Registered number: 08579802) |
| Balance Sheet |
| 30 June 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| Web Innov8 (UK) Limited (Registered number: 08579802) |
| Balance Sheet - continued |
| 30 June 2017 |
| 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 |
| Web Innov8 (UK) Limited (Registered number: 08579802) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2017 |
| 1. | STATUTORY INFORMATION |
| Web Innov8 (UK) Limited is a |
| 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 |
| Although the company had net current liabilities at 30 June 2017 of £11,335 the financial statements have been |
| prepared on the going concern basis which assumes the company will continue in operational existence for the |
| foreseeable future. The validity of this assumption depends on the directors providing additional financial |
| support, where necessary. The financial statements do not include any adjustments that would result should the |
| company not continue to trade. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| 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. |
| Development expenditure |
| Research expenditure is written off against profits in the year in which it is incurred. Identifiable development |
| expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be |
| demonstrated. |
| Provision is made for any impairment. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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. |
| Web Innov8 (UK) Limited (Registered number: 08579802) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
| administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2016 - NIL). |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 July 2016 |
| Additions |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| Intangible fixed assets relate to costs incurred in the development of the hosting technology infrastructure stack. |
| Web Innov8 (UK) Limited (Registered number: 08579802) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2016 |
| and 30 June 2017 |
| DEPRECIATION |
| At 1 July 2016 |
| Charge for year |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 July 2016 |
| and 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| The above investments are valued at cost, as the market value is not easily obtainable. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Directors' current accounts | 9,610 | 3,120 |
| Accrued expenses |
| Web Innov8 (UK) Limited (Registered number: 08579802) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2017 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other loans more 5yrs non-inst | 69,000 | 69,000 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| The above loan is interest free with no fixed terms of repayment. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 26,250 | 20,350 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the year end the company owed £69,000 (2016 - £69,000) to Amigos 3 Limited, a company in which Mr N |
| Teasdale, a director, owns 100% of the issued share capital. No interest is charged on this loan. |