We Know You Ltd
Registered number: 09237581
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 90,381 85,906
Cash at bank and in hand - 2,551
90,381 88,457
Creditors: amounts falling due within one year 4 (98,436) (75,052)
Net current (liabilities)/assets (8,055) 13,405
Total assets less current liabilities (8,055) 13,405
Creditors: amounts falling due after more than one year 5 (24,113) (31,613)
Net liabilities (32,168) (18,208)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (33,168) (19,208)
Shareholder's funds (32,168) (18,208)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ali Azam Jaafri
Director
Approved by the board on 12 March 2024
We Know You Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Debtors 2023 2022
£ £
Amounts due from related parties 70,267 65,602
Other debtors 20,114 20,304
90,381 85,906
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,592 10,000
Amounts owed to related parties 30,852 32,260
Other creditors 55,992 32,792
98,436 75,052
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,113 31,613
6 Related party transactions
As at 30 June 2023, We Know You Ltd was owed £13,716 from Ingenious Foods Ltd, £50,069 from Graftism (Amazon) Ltd and £6,482 from Iman Zain Investments Ltd, all companies in which Ali Azam Jaafri is a Director.
As at 30 June 2023, We Know You Ltd owed £30,852 to Iman Zain Consultancy Ltd, a company in which Ali Azam Jaafri is a Director.
7 Other information
We Know You Ltd is a private company limited by shares and incorporated in England. Its registered office is:
39 Beckett Road
Doncaster
England
DN2 4AD
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