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Company Registration No. 11749743 (England and Wales)
WEDO LOGISTICS LIMITED Unaudited accounts for the year ended 31 January 2023
WEDO LOGISTICS LIMITED Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,949 
9,993 
Current assets
Debtors
13,285 
15,892 
Cash at bank and in hand
19,104 
19,715 
32,389 
35,607 
Creditors: amounts falling due within one year
(20,067)
(20,905)
Net current assets
12,322 
14,702 
Total assets less current liabilities
20,271 
24,695 
Creditors: amounts falling due after more than one year
(14,605)
(20,884)
Provisions for liabilities
Deferred tax
(324)
(452)
Net assets
5,342 
3,359 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
5,242 
3,259 
Shareholders' funds
5,342 
3,359 
For the year ending 31 January 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 20 October 2023 and were signed on its behalf by
Maqsood Hussain Director Company Registration No. 11749743
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WEDO LOGISTICS LIMITED Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
WEDO LOGISTICS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11749743. The registered office is 830 LEEDS ROAD, BRADFORD, BD3 9TX, UNITED KINGDOM.
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
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
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:
Plant & machinery
25% on reducing balance
Motor vehicles
20% on reducing balance
Fixtures & fittings
20% on reducing balance
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.
Government grants
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.
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WEDO LOGISTICS LIMITED Notes to the Accounts for the year ended 31 January 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 February 2022
19,895 
At 31 January 2023
19,895 
Depreciation
At 1 February 2022
9,902 
Charge for the year
2,044 
At 31 January 2023
11,946 
Net book value
At 31 January 2023
7,949 
At 31 January 2022
9,993 
5
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
6
Average number of employees
During the year the average number of employees was 3 (2022: 4).
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