Company Registration No. NI614876 (Northern Ireland)
WSI Digital Limited
Unaudited accounts
for the year ended 31 October 2020
WSI Digital Limited
Unaudited accounts
Contents
WSI Digital Limited
Statement of financial position
as at
31 October 2020
Tangible assets
2,002
7,570
Investment property
80,000
-
Cash at bank and in hand
33,532
5,866
Creditors: amounts falling due within one year
(87,849)
(66,326)
Net current assets
32,120
42,493
Total assets less current liabilities
114,122
50,063
Creditors: amounts falling due after more than one year
(45,000)
(1,287)
Called up share capital
100
100
Profit and loss account
69,022
48,676
Shareholders' funds
69,122
48,776
For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2021 and were signed on its behalf by
Peter Wilson
Director
Company Registration No. NI614876
WSI Digital Limited
Notes to the Accounts
for the year ended 31 October 2020
WSI Digital Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI614876. The registered office is Ch10, Colvin House Carrowreagh Road, Dundonald, Belfast, BT16 1QT, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33.33% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Expenditure on research and development is written off in the year in which it is incurred.
WSI Digital Limited
Notes to the Accounts
for the year ended 31 October 2020
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
At 1 November 2019
15,500
5
Investment property
2020
At 31 October 2020
80,000
6
Debtors: amounts falling due within one year
2020
2019
Trade debtors
24,665
18,052
Other debtors
61,772
84,901
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
5,000
-
Obligations under finance leases and hire purchase contracts
-
3,514
Taxes and social security
43,989
32,622
Other creditors
9,274
14,817
8
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
-
1,287
WSI Digital Limited
Notes to the Accounts
for the year ended 31 October 2020
9
Average number of employees
During the year the average number of employees was 5 (2019: 5).