2022-01-012022-12-312022-12-31false09204991WEDRIVEYOU 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WEDRIVEYOU LTD

Registered Number
09204991
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

WEDRIVEYOU LTD
Company Information
for the year from 1 January 2022 to 31 December 2022

Director

DICKENSON, Robert Nigel

Registered Address

9 Newbury Drive
Stratford-Upon-Avon
CV37 9LZ

Registered Number

09204991 (England and Wales)
WEDRIVEYOU LTD
Balance Sheet as at
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Intangible assets510,00014,831
Tangible assets668,13390,855
78,133105,686
Current assets
Debtors751,76927,913
Cash at bank and on hand24,75111,808
76,52039,721
Creditors amounts falling due within one year8(173,293)(222,650)
Net current assets (liabilities)(96,773)(182,929)
Total assets less current liabilities(18,640)(77,243)
Creditors amounts falling due after one year(5,568)(141)
Net assets(24,208)(77,384)
Capital and reserves
Called up share capital100,100100,100
Profit and loss account(124,308)(177,484)
Shareholders' funds(24,208)(77,384)
The financial statements were approved and authorised for issue by the Director on 30 September 2023, and are signed on its behalf by:
DICKENSON, Robert Nigel
Director
Registered Company No. 09204991
WEDRIVEYOU LTD
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period, and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Separately acquired trademarks and licences are shown at historical cost. Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date. Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period, foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised systematically over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Leases policy
Assets held under finance leases are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20222021
Average number of employees during the year32
5.Intangible assets

Total

£
Cost or valuation
At 01 January 2250,000
At 31 December 2250,000
Amortisation and impairment
At 01 January 2235,169
Charge for year4,831
At 31 December 2240,000
Net book value
At 31 December 2210,000
At 31 December 2114,831
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 January 22196,455
Additions(11)
At 31 December 22196,444
Depreciation and impairment
At 01 January 22105,600
Charge for year22,711
At 31 December 22128,311
Net book value
At 31 December 2268,133
At 31 December 2190,855
7.Debtors

2022

2021

££
Trade debtors / trade receivables51,31426,913
Other debtors1-
Prepayments and accrued income4541,000
Total51,76927,913
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at an amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2022

2021

££
Trade creditors / trade payables108,114165,371
Bank borrowings and overdrafts43,28148,900
Taxation and social security17,9075,787
Other creditors1,4331,360
Accrued liabilities and deferred income2,5581,232
Total173,293222,650
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at an amortised cost determined using the effective interest method.
9.Finance lease and HP contracts after one year

2022

2021

££
Finance lease and HP contracts141141