ACCOUNTS - Final Accounts preparation

Registered number: 13498217

WE HAVE A MEETING LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

WE HAVE A MEETING LIMITED

REGISTERED NUMBER: 13498217

BALANCE SHEET

AS AT 31 JULY 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		9,018		1,125
			9,018		1,125
Current assets
Debtors: amounts falling due within one year	5	16,240		13,397
Cash at bank and in hand	6	130,241		119,324
		146,481		132,721
Creditors: amounts falling due within one year	7	(106,359)		(83,420)
Net current assets			40,122		49,301
Total assets less current liabilities			49,140		50,426

Net assets			49,140		50,426

Capital and reserves
Called up share capital	9	200	100
Share premium account		982	-
Profit and loss account		47,958	50,326
		49,140	50,426

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WE HAVE A MEETING LIMITED

REGISTERED NUMBER: 13498217

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 October 2023.

................................................

Zac Thompson

Director

The notes on pages 3 to 8 form part of these financial statements.

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WE HAVE A MEETING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

1.	General information

We Have A Meeting Limited is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company throughout the year was that of consultancy.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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WE HAVE A MEETING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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WE HAVE A MEETING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery

25%

Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 15 (2022 - 11).

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WE HAVE A MEETING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 August 2022	1,500
	Additions	10,215
	At 31 July 2023	11,715
	Depreciation
	At 1 August 2022	375
	Charge for the year on owned assets	2,322
	At 31 July 2023	2,697
	Net book value
	At 31 July 2023	9,018
	At 31 July 2022	1,125

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WE HAVE A MEETING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

Debtors

					2023	2022
					£	£


Trade debtors	16,240	10,200
Other debtors	-	3,132
Prepayments and accrued income	-	65
	16,240	13,397

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	130,241	119,324
	130,241	119,324

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Corporation tax	33,880	32,059
Other taxation and social security	33,535	26,395
Other creditors	38,519	24,966
Accruals and deferred income	425	-
	106,359	83,420

Included in creditors is a director’s loan account balance of £36,797 (2022 - £24,966) in relation to Jack Frimston.

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WE HAVE A MEETING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

8.	Financial instruments
		2023	2022
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	130,241	119,324

Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

9.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

99 (2022 - 51) Ordinary shares of £1.00 each	99	51
97 (2022 - 49) Ordinary A shares of £1.00 each	97	49
4 (2022 - ) Ordinary B shares of £1.00 each	4	-

	200	100

During the year, 48 Ordinary shares, 48 Ordinary A shares and 4 Ordinary B shares were issued.

10.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,931 (2022 - £1,228). Contributions totaling £1,722 (2022 - £263 overpayment) were due to the fund at the balance sheet date.

11.	Controlling party

The Company is controlled by the director Zac Thompson, by virtue of his shareholding as described in the Directors' report.

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