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REGISTERED NUMBER: 07420251 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31st July 2023

for

WeDo Digital Technologies Limited

WeDo Digital Technologies Limited (Registered number: 07420251)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 8

WeDo Digital Technologies Limited

Company Information
for the Year Ended 31st July 2023







DIRECTORS: M Lindsay
L Pilfold-Thomas
C Robinson
L S Turver





REGISTERED OFFICE: Meadowbank House
Meadowbank Business Park
Tweedale Way
Oldham
OL9 8EH





REGISTERED NUMBER: 07420251 (England and Wales)





ACCOUNTANTS: Hewson & Howson
8 Shepcote Office Village
Shepcote Lane
Sheffield
South Yorkshire
S9 1TG

WeDo Digital Technologies Limited (Registered number: 07420251)

Statement of Financial Position
31st July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,083
Tangible assets 5 13,085 30,229
13,085 37,312

CURRENT ASSETS
Debtors 6 45,399 260,994
Cash at bank 175,478 28,170
220,877 289,164
CREDITORS
Amounts falling due within one year 7 240,499 455,514
NET CURRENT LIABILITIES (19,622 ) (166,350 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,537

)

(129,038

)

CREDITORS
Amounts falling due after more than one
year

8

(24,581

)

(20,561

)

PROVISIONS FOR LIABILITIES (3,271 ) -
NET LIABILITIES (34,389 ) (149,599 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (34,391 ) (149,601 )
SHAREHOLDERS' FUNDS (34,389 ) (149,599 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

WeDo Digital Technologies Limited (Registered number: 07420251)

Statement of Financial Position - continued
31st July 2023


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 Board of Directors and authorised for issue on 24th April 2024 and were signed on its behalf by:




M Lindsay - Director L Pilfold-Thomas - Director




C Robinson - Director L S Turver - Director


WeDo Digital Technologies Limited (Registered number: 07420251)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. STATUTORY INFORMATION

WeDo Digital Technologies Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Computer equipment - 33% on reducing balance

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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 statement of financial position date.


WeDo Digital Technologies Limited (Registered number: 07420251)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Currency presentation
The financial statements are presented in Sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial Instruments.
Financial Instruments are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Going concern
The accounts have been prepared on the Going Concern basis, which is reliant upon the continuing support of the company's parent undertakings.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st August 2022 7,083
Disposals (7,083 )
At 31st July 2023 -
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 7,083

WeDo Digital Technologies Limited (Registered number: 07420251)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 65,791
Additions 7,821
Disposals (56,097 )
At 31st July 2023 17,515
DEPRECIATION
At 1st August 2022 35,562
Charge for year 3,503
Eliminated on disposal (34,635 )
At 31st July 2023 4,430
NET BOOK VALUE
At 31st July 2023 13,085
At 31st July 2022 30,229

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 44,485 259,974
Other debtors 914 1,020
45,399 260,994

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,049 6,890
Trade creditors 17,969 43,683
Taxation and social security 80,096 79,104
Other creditors 132,385 325,837
240,499 455,514

Included within other creditors are amounts owed to related parties. WeDo Business Investments £nil (2022: £3,788) and WeDo Business Services £120,549 (2022: £298,236)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 24,581 20,561

WeDo Digital Technologies Limited (Registered number: 07420251)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
2 Ordinary £1 2 2

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Lindsay by way of his controlling interest in WeDo Business Services Ltd.

WeDo Digital Technologies Limited

Report of the Accountants to the Directors of
WeDo Digital Technologies Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31st July 2023 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hewson & Howson
8 Shepcote Office Village
Shepcote Lane
Sheffield
South Yorkshire
S9 1TG


24th April 2024