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REGISTERED NUMBER: 11978861 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

We Trade Waves By Tee & Alain Ltd

We Trade Waves By Tee & Alain Ltd (Registered number: 11978861)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


We Trade Waves By Tee & Alain Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: M T Shoukat





REGISTERED OFFICE: Suite 1970 Unit 3a
34-35 Hatton Garden
Holborn
London
EC1N 8DX





REGISTERED NUMBER: 11978861 (England and Wales)





ACCOUNTANTS: Three Leaves
Chartered Certified Accountants
2 Manor House Lane
Datchet
Slough
Berkshire
SL3 9EB

We Trade Waves By Tee & Alain Ltd (Registered number: 11978861)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,688 7,370

CURRENT ASSETS
Debtors 5 2,277 -
Cash at bank 182,488 216,028
184,765 216,028
CREDITORS
Amounts falling due within one year 6 132,045 198,078
NET CURRENT ASSETS 52,720 17,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,408

25,320

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 57,407 25,319
SHAREHOLDERS' FUNDS 57,408 25,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2023 and were signed by:





M T Shoukat - Director


We Trade Waves By Tee & Alain Ltd (Registered number: 11978861)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

We Trade Waves By Tee & Alain Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The director has made key assumption in the determination of the economic useful life of goodwill. The annual amortisation charge for goodwill is sensitive to changes in the estimated useful economic life and residual value of the asset. The useful economic life and residual value is re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments and economic utilisation of the asset. See note 2 for the useful economic life for goodwill and note 4 for the carrying amount of goodwill.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefit 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:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide service 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.

Revenue is recognised when goods are delivered and services are rendered.

We Trade Waves By Tee & Alain Ltd (Registered number: 11978861)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefit to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance charged to the Statement of comprehensive income during the year in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Computer equipments - 33% on cost

The asset's 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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loan to related parties and investments in non-puttable ordinary shares.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

We Trade Waves By Tee & Alain Ltd (Registered number: 11978861)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

Creditors
Short term trade 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.

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 life.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 13,386
Additions 915
At 31 May 2023 14,301
DEPRECIATION
At 1 June 2022 6,016
Charge for year 3,597
At 31 May 2023 9,613
NET BOOK VALUE
At 31 May 2023 4,688
At 31 May 2022 7,370

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 2,277 -

We Trade Waves By Tee & Alain Ltd (Registered number: 11978861)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors - 30,370
Taxation and social security 18,206 11,411
Other creditors 113,839 156,297
132,045 198,078

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary 1 1 1

8. RESERVES
Retained
earnings
£   

At 1 June 2022 25,319
Profit for the year 72,088
Dividends (40,000 )
At 31 May 2023 57,407

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M T Shoukat.