Registered number
12975677
WE BROTHERS LTD
Filleted Accounts
31 October 2023
WE BROTHERS LTD
Registered number: 12975677
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 42,954 -
Tangible assets 4 19,938 856
62,892 856
Current assets
Stocks 12,415 12,520
Debtors 5 29,521 27,583
Cash at bank and in hand 58,412 18,608
100,348 58,711
Creditors: amounts falling due within one year 6 (114,877) (46,003)
Net current (liabilities)/assets (14,529) 12,708
Total assets less current liabilities 48,363 13,564
Creditors: amounts falling due after more than one year 7 (13,000) (13,000)
Net assets 35,363 564
Capital and reserves
Called up share capital 100 100
Profit and loss account 35,263 464
Shareholders' funds 35,363 564
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Zohaib SHAHNAWAZ
Director
Approved by the board on 29 July 2024
WE BROTHERS LTD
Notes to the Accounts
for the year ended 31 October 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% RBM
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 13
3 Intangible fixed assets £
Goodwill:
Cost
Additions 49,715
At 31 October 2023 49,715
Amortisation
Provided during the year 6,761
At 31 October 2023 6,761
Net book value
At 31 October 2023 42,954
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 1,338
Additions 24,066
At 31 October 2023 25,404
Depreciation
At 1 November 2022 482
Charge for the year 4,984
At 31 October 2023 5,466
Net book value
At 31 October 2023 19,938
At 31 October 2022 856
5 Debtors 2023 2022
£ £
Trade debtors 12,471 10,603
HMRC S455 (Director's loan account overdrawn ) - 3,523
Other debtors 17,050 13,457
29,521 27,583
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,320 5,980
Amounts owed to group undertakings and undertakings in which the company has a participating interest 10,699 11,342
Taxation and social security costs 28,886 20,909
Director's loan account 55,466 (10,840)
HMRC S455 (Director's loan account overdrawn) - 3,523
Other creditors 15,506 15,089
114,877 46,003
7 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 13,000 13,000
8 Other information
WE BROTHERS LTD is a private company limited by shares and incorporated in England. Its registered office is:
97 New Road
London
England
 E1 1HJ
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