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REGISTERED NUMBER: 05329024 (England and Wales)










We Are Limitless Limited
Trading as
WALL

Unaudited Financial Statements

for the Year Ended 31 December 2023






We Are Limitless Limited (Registered number: 05329024)
Trading as WALL






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


We Are Limitless Limited
Trading as WALL

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M A Robinson
Mrs E Robinson





SECRETARY: Mrs E Robinson





REGISTERED OFFICE: UNIT 2
Ribble Saw Mill
Paley Road
Preston
Lancashire
PR1 8LT





REGISTERED NUMBER: 05329024 (England and Wales)





ACCOUNTANTS: DSM CA LTD
The Station House
Station Road
Whalley
Clitheroe
Lancashire
BB7 9RT

We Are Limitless Limited (Registered number: 05329024)
Trading as WALL

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 30,592 32,821

CURRENT ASSETS
Stocks 6 12,000 5,000
Debtors 7 3,000 4,470
Cash at bank 36,283 56,813
51,283 66,283
CREDITORS
Amounts falling due within one year 8 (37,433 ) (35,829 )
NET CURRENT ASSETS 13,850 30,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,442

63,275

CREDITORS
Amounts falling due after more than one
year

9

(17,500

)

(27,500

)

PROVISIONS FOR LIABILITIES (5,772 ) (6,095 )
NET ASSETS 21,170 29,680

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,070 29,580
21,170 29,680

We Are Limitless Limited (Registered number: 05329024)
Trading as WALL

Balance Sheet - continued
31 December 2023


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

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

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





M A Robinson - Director


We Are Limitless Limited (Registered number: 05329024)
Trading as WALL

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

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
UNIT 2
Ribble Saw Mill
Paley Road
Preston
Lancashire
PR1 8LT

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all the years presented, unless otherwise stated.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

We Are Limitless Limited (Registered number: 05329024)
Trading as WALL

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

3. ACCOUNTING POLICIES - continued

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is a unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

We Are Limitless Limited (Registered number: 05329024)
Trading as WALL

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

3. ACCOUNTING POLICIES - continued

BORROWING
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

LEASES
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 - 61,092 21,085 43,995 126,172
Additions 211 4,456 2,136 - 6,803
At 31 December 2023 211 65,548 23,221 43,995 132,975
DEPRECIATION
At 1 January 2023 - 55,532 18,686 19,133 93,351
Charge for year - 1,910 906 6,216 9,032
At 31 December 2023 - 57,442 19,592 25,349 102,383
NET BOOK VALUE
At 31 December 2023 211 8,106 3,629 18,646 30,592
At 31 December 2022 - 5,560 2,399 24,862 32,821

We Are Limitless Limited (Registered number: 05329024)
Trading as WALL

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

6. STOCKS
2023 2022
£    £   
Stocks 10,000 5,000
Work-in-progress 2,000 -
12,000 5,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 500 3,000
CIS 2,500 1,470
3,000 4,470

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,900 2,470
Tax 8,256 7,049
PAYE/NI liability 1,015 993
VAT 1,016 1,261
Credit card 959 1,717
Directors' current accounts 10,237 11,389
Accrued expenses 1,050 950
37,433 35,829

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 17,500 27,500