Webanywhere Limited Filleted accounts for Companies House (small and micro)

WEBANYWHERE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04881346

Webanywhere Limited

Filleted unaudited financial statements

31 August 2019

Webanywhere Limited

Statement of financial position

31 August 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Tangible assets	5	6,905	5,999
Investments	6	6	6
		------	------
		6,911	6,005

Current assets

Debtors	7	1,280,724	1,579,625
Cash at bank and in hand		244,122	94,665
		-----------	-----------
		1,524,846	1,674,290

Creditors: amounts falling due within one year	8	( 869,444)		( 1,160,230)
		-----------		-----------
Net current assets			655,402		514,060
			---------		---------
Total assets less current liabilities			662,313		520,065

Creditors: amounts falling due after more than one year	9	( 268,723)	( 310,330)
		---------	---------
Net assets		393,590	209,735
		---------	---------

Capital and reserves

Called up share capital	10,000	10,000
Profit and loss account	383,590	199,735
	---------	---------
Shareholders funds	393,590	209,735
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31st August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 August 2020 , and are signed on behalf of the board by:

S P J Gilligan
Director

Company registration number: 04881346

Webanywhere Limited

Notes to the financial statements

year ended 31st August 2019

1. General information

The principal activity of the company during the year was that of the supply of E-learning facilities . The company is a private limited company, which is incorporated in England and Wales (no. 04881346 ). The address of the registered office is: Avenue HQ 10-12 East Parade Leeds LS1 2BH

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates . Details of these judgements are set out in the accounting policies.

Turnover

The turnover in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	over the life of the lease
Plant & Machinery	-	15% and 33% on reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 31 (2018: 37 ).

5. Tangible assets

Leasehold improvements	Plant and machinery	Total
£	£	£

Cost
At 1st September 2018	36,949	24,099	61,048
Additions	–	3,654	3,654
	-------	-------	-------
At 31st August 2019	36,949	27,753	64,702
	-------	-------	-------
Depreciation
At 1st September 2018	36,949	18,100	55,049
Charge for the year	–	2,748	2,748
	-------	-------	-------
At 31st August 2019	36,949	20,848	57,797
	-------	-------	-------
Carrying amount
At 31st August 2019	–	6,905	6,905
	-------	-------	-------
At 31st August 2018	–	5,999	5,999
	-------	-------	-------

6. Investments

	Shares in group undertakings
	£

Cost
At 1st September 2018 and 31st August 2019	6
	----
Impairment
At 1st September 2018 and 31st August 2019	–
	----

Carrying amount
At 31st August 2019	6
	----
At 31st August 2018	6
	----

7. Debtors

	2019	2018
	£	£

Trade debtors	233,858	632,031
Amounts owed by group undertakings and undertakings in which the company has a participating interest	406,667	526,647
Other debtors	640,199	420,947
	-----------	-----------
	1,280,724	1,579,625
	-----------	-----------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£

Trade creditors	103,475	73,237
Corporation tax	–	17,500
Social security and other taxes	62,555	129,643
Other creditors	703,414	939,850
	---------	-----------
	869,444	1,160,230
	---------	-----------

9. Creditors: amounts falling due after more than one year

	2019	2018
	£	£

Other creditors	268,723	310,330
	---------	---------

Deferred income represents amounts invoiced in advance for forward support contracts. Income received in respect of support contracts is credited to deferred income and released to profit and loss account pro-rata over the period of the contract.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2019	2018
	£	£

Later than 1 year and not later than 5 years	68,939	100,757
	-------	---------

11. Director's advances, credits and guarantees

Included in other debtors is £151,253 (2018 - £86,574) due from the director.