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Registration number: 10847009

Weorclic Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Weorclic Limited

Contents

Company Information

1

Directors' Report

2 to 3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

4

 

Weorclic Limited

Company Information

Directors

Mr Charles Henry Fairpo

Mr Richard William Wharton

Mr Peter Craig-Cooper

Registered office

The Chapel Silver Street
Witcham
Ely
Cambridgeshire
CB6 2LF

 

Weorclic Limited

Directors' Report for the Year Ended 31 July 2023

The directors present their report and the financial statements for the year ended 31 July 2023.

This report has been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

Directors of the company

The directors who held office during the year were as follows:

Mr Charles Henry Fairpo

Mr Richard William Wharton

Mr Peter Craig-Cooper

Going concern

At the year end the company had net current liabilities of £918 and net liabilities of £59,662.

During the year, no additional funds were made available to the company. As a result, development activities have stopped and costs reduced to the absolute minimum.

Shareholders who have provided working capital loans to the company that are outstanding as at the date of these financial statements have undertaken not to call for repayment of amounts due until such time as the company has adequate resources to make the repayments while remaining a going concern.

Hence, the directors have drawn up these accounts on a going concern basis.

Since the year end, one of the company's major shareholders entered insolvency proceedings and is currently in administration. Their shareholding carries rights relating to the appointment of a director and a requirement that their appointed director be involved in certain activities including board decisions and approve certain matters. However, their appointed director, Richard Wharton, has taken no active role in the management of the company nor in board activities, including in relation to the approval of these financial statements. The administrators of the shareholder have confirmed that they are not appointing anyone to fill the board seat nor will they be exercising any of the powers relating to the shareholding set out in the shareholders' agreement. Richard Wharton therefore remains a director of the company as neither the other directors nor the other shareholders have the right to remove him.

Given the situation and the existential risk to the company of not doing so, the remaining directors have concluded that they have a fiduciary as well as a legal duty to file these financial statements, irrespective of any matters set out in the shareholders' agreement.

 

Weorclic Limited

Directors' Report for the Year Ended 31 July 2023

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
Mr Charles Henry Fairpo
Director

 

Weorclic Limited

(Registration number: 10847009)
Balance Sheet as at 31 July 2023

2023
£

2022
£

Fixed assets

506

506

Current assets

534

1,349

Creditors: Amounts falling due within one year

(1,052)

(1,052)

Net current (liabilities)/assets

(518)

297

Total assets less current liabilities

(12)

803

Creditors: Amounts falling due after more than one year

(59,250)

(59,250)

Accruals and deferred income

(400)

(275)

 

(59,662)

(58,722)

Capital and reserves

(59,662)

(58,722)

1

General information

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

The address of its registered office is:
The Chapel Silver Street
Witcham
Ely
Cambridgeshire
CB6 2LF
England

These financial statements were authorised for issue by the Board on 1 August 2024.

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Weorclic Limited

(Registration number: 10847009)
Balance Sheet as at 31 July 2023

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
Mr Charles Henry Fairpo
Director