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Company Registration No. 12026196 (England and Wales)
Wefit Window and Doors Ltd Unaudited accounts for the year ended 31 December 2022
Wefit Window and Doors Ltd Unaudited accounts Contents
Page
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Wefit Window and Doors Ltd Company Information for the year ended 31 December 2022
Director
Laura Elizabeth White
Company Number
12026196 (England and Wales)
Registered Office
Unit 7 School Street Hazel Grove Stockport SK7 4RA
Accountants
Bee Motion Accounting Limited 136 Hall Street Stockport Greater Manchester SK1 4HE
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Wefit Window and Doors Ltd Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
4,650 
Current assets
Debtors
18,683 
- 
Cash at bank and in hand
481 
18,686 
19,164 
18,686 
Creditors: amounts falling due within one year
(2,567)
(7,209)
Net current assets
16,597 
11,477 
Net assets
16,597 
16,127 
Capital and reserves
Called up share capital
100 
1 
Profit and loss account
16,497 
16,126 
Shareholders' funds
16,597 
16,127 
For the year ending 31 December 2022 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 director acknowledges her 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 and authorised for issue on 11 April 2023 and were signed on its behalf by
Laura Elizabeth White Director Company Registration No. 12026196
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Wefit Window and Doors Ltd Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Wefit Window and Doors Ltd is a private company, limited by shares, registered in England and Wales, registration number 12026196. The registered office is Unit 7 School Street, Hazel Grove, Stockport, SK7 4RA.
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.
3
Accounting policies
Presentation currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or services. i) Sale of goods Turnover from the sale of goods are recognised when significant risks and rewards of ownership have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company. ii) Rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Wefit Window and Doors Ltd Notes to the Accounts for the year ended 31 December 2022
Going concern
The company has considerable financial resources together with contracts with a number of clients. The director believes that the company is well placed to manage its business risks successfully. After making enquiries, the director has reasonable expectations that the company has adequate resources to continue in operational existence for a period of at least twelve months and for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report.
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:
Motor vehicles
20% Reducing balance
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 January 2022
6,580 
Disposals
(6,580)
At 31 December 2022
- 
Depreciation
At 1 January 2022
1,930 
Charge for the year
930 
On disposals
(2,860)
At 31 December 2022
- 
Net book value
At 31 December 2022
- 
At 31 December 2021
4,650 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Other debtors
18,683 
- 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade creditors
- 
1,045 
Taxes and social security
1,882 
2,317 
Loans from directors
- 
2,345 
Accruals
685 
727 
Deferred income
- 
775 
2,567 
7,209 
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Wefit Window and Doors Ltd Notes to the Accounts for the year ended 31 December 2022
7
Transactions with related parties
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
8
Controlling party
The company's parent undertaking and ultimate controlling party is WeHoldco Limited, a limited company registered in England and Wales. WeHoldco Limited (13740341) - 136 Hall Street, Offerton, Stockport, SK1 4HE
9
Average number of employees
During the year the average number of employees was 1 (2021: 0).
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