2023-01-012023-12-312023-12-31false12470936WEARE8 MEDIA LTD2024-08-0258290iso4217:GBPxbrli:pure124709362023-01-01124709362023-12-31124709362023-01-012023-12-31124709362022-01-01124709362022-12-31124709362022-01-012022-12-3112470936bus:SmallEntities2023-01-012023-12-3112470936bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3112470936bus:FullAccounts2023-01-012023-12-3112470936bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112470936core:WithinOneYear2023-12-3112470936core:AfterOneYear2023-12-3112470936core:WithinOneYear2022-12-3112470936core:AfterOneYear2022-12-3112470936core:ShareCapital2023-12-3112470936core:SharePremium2023-12-3112470936core:RevaluationReserve2023-12-3112470936core:OtherReservesSubtotal2023-12-3112470936core:RetainedEarningsAccumulatedLosses2023-12-3112470936core:ShareCapital2022-12-3112470936core:SharePremium2022-12-3112470936core:RevaluationReserve2022-12-3112470936core:OtherReservesSubtotal2022-12-3112470936core:RetainedEarningsAccumulatedLosses2022-12-3112470936core:LandBuildings2023-12-3112470936core:PlantMachinery2023-12-3112470936core:Vehicles2023-12-3112470936core:FurnitureFittings2023-12-3112470936core:OfficeEquipment2023-12-3112470936core:NetGoodwill2023-12-3112470936core:IntangibleAssetsOtherThanGoodwill2023-12-3112470936core:ListedExchangeTraded2023-12-3112470936core:UnlistedNon-exchangeTraded2023-12-3112470936core:LandBuildings2022-12-3112470936core:PlantMachinery2022-12-3112470936core:Vehicles2022-12-3112470936core:FurnitureFittings2022-12-3112470936core:OfficeEquipment2022-12-3112470936core:NetGoodwill2022-12-3112470936core:IntangibleAssetsOtherThanGoodwill2022-12-3112470936core:ListedExchangeTraded2022-12-3112470936core:UnlistedNon-exchangeTraded2022-12-3112470936core:LandBuildings2023-01-012023-12-3112470936core:PlantMachinery2023-01-012023-12-3112470936core:Vehicles2023-01-012023-12-3112470936core:FurnitureFittings2023-01-012023-12-3112470936core:OfficeEquipment2023-01-012023-12-3112470936core:NetGoodwill2023-01-012023-12-3112470936core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112470936core:ListedExchangeTraded2023-01-012023-12-3112470936core:UnlistedNon-exchangeTraded2023-01-012023-12-3112470936core:MoreThanFiveYears2023-01-012023-12-3112470936core:Non-currentFinancialInstruments2023-12-3112470936core:Non-currentFinancialInstruments2022-12-3112470936dpl:CostSales2023-01-012023-12-3112470936dpl:DistributionCosts2023-01-012023-12-3112470936core:LandBuildings2023-01-012023-12-3112470936core:PlantMachinery2023-01-012023-12-3112470936core:Vehicles2023-01-012023-12-3112470936core:FurnitureFittings2023-01-012023-12-3112470936core:OfficeEquipment2023-01-012023-12-3112470936dpl:AdministrativeExpenses2023-01-012023-12-3112470936core:NetGoodwill2023-01-012023-12-3112470936core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112470936dpl:GroupUndertakings2023-01-012023-12-3112470936dpl:ParticipatingInterests2023-01-012023-12-3112470936dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3112470936core:ListedExchangeTraded2023-01-012023-12-3112470936dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3112470936core:UnlistedNon-exchangeTraded2023-01-012023-12-3112470936dpl:CostSales2022-01-012022-12-3112470936dpl:DistributionCosts2022-01-012022-12-3112470936core:LandBuildings2022-01-012022-12-3112470936core:PlantMachinery2022-01-012022-12-3112470936core:Vehicles2022-01-012022-12-3112470936core:FurnitureFittings2022-01-012022-12-3112470936core:OfficeEquipment2022-01-012022-12-3112470936dpl:AdministrativeExpenses2022-01-012022-12-3112470936core:NetGoodwill2022-01-012022-12-3112470936core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3112470936dpl:GroupUndertakings2022-01-012022-12-3112470936dpl:ParticipatingInterests2022-01-012022-12-3112470936dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3112470936core:ListedExchangeTraded2022-01-012022-12-3112470936dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3112470936core:UnlistedNon-exchangeTraded2022-01-012022-12-3112470936core:NetGoodwill2023-12-3112470936core:IntangibleAssetsOtherThanGoodwill2023-12-3112470936core:LandBuildings2023-12-3112470936core:PlantMachinery2023-12-3112470936core:Vehicles2023-12-3112470936core:FurnitureFittings2023-12-3112470936core:OfficeEquipment2023-12-3112470936core:AfterOneYear2023-12-3112470936core:WithinOneYear2023-12-3112470936core:ListedExchangeTraded2023-12-3112470936core:UnlistedNon-exchangeTraded2023-12-3112470936core:ShareCapital2023-12-3112470936core:SharePremium2023-12-3112470936core:RevaluationReserve2023-12-3112470936core:OtherReservesSubtotal2023-12-3112470936core:RetainedEarningsAccumulatedLosses2023-12-3112470936core:NetGoodwill2022-12-3112470936core:IntangibleAssetsOtherThanGoodwill2022-12-3112470936core:LandBuildings2022-12-3112470936core:PlantMachinery2022-12-3112470936core:Vehicles2022-12-3112470936core:FurnitureFittings2022-12-3112470936core:OfficeEquipment2022-12-3112470936core:AfterOneYear2022-12-3112470936core:WithinOneYear2022-12-3112470936core:ListedExc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WEARE8 MEDIA LTD

Registered Number
12470936
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

WEARE8 MEDIA LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

FENNESSY, Sue Elizabeth

Registered Address

Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ

Registered Number

12470936 (England and Wales)
WEARE8 MEDIA LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets323,90727,611
23,90727,611
Current assets
Debtors41,030,187535,374
Cash at bank and on hand126,877228,309
1,157,064763,683
Creditors amounts falling due within one year5(1,132,825)(1,091,868)
Net current assets (liabilities)24,239(328,185)
Total assets less current liabilities48,146(300,574)
Creditors amounts falling due after one year6(12,757,095)(7,891,975)
Net assets(12,708,949)(8,192,549)
Capital and reserves
Called up share capital11
Profit and loss account(12,708,950)(8,192,550)
Shareholders' funds(12,708,949)(8,192,549)
The financial statements were approved and authorised for issue by the Director on 2 August 2024, and are signed on its behalf by:
FENNESSY, Sue Elizabeth
Director
Registered Company No. 12470936
WEARE8 MEDIA LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on the going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the period end. The director considers the basis to be appropriate as the parent company, WeAre8, PBC, will have sufficient reserves to support the company to trade for a minimum of 12 months from the period end.
Turnover policy
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 rendering of services.
Defined contribution pension plan
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
2.Average number of employees

20232022
Average number of employees during the year2324
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2336,02936,029
Additions6,4106,410
Disposals(2,750)(2,750)
At 31 December 2339,68939,689
Depreciation and impairment
At 01 January 238,4188,418
Charge for year7,5937,593
On disposals(229)(229)
At 31 December 2315,78215,782
Net book value
At 31 December 2323,90723,907
At 31 December 2227,61127,611
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables677,203315,836
Amounts owed by group undertakings-98,621
Other debtors205,26829,609
Prepayments and accrued income147,71691,308
Total1,030,187535,374
Included in Other Debtors are amounts owed by directors of £578 (2022: nil). These amounts have been repaid on 31 January 2024.
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables892,611971,181
Taxation and social security208,49481,025
Other creditors5,2448,205
Accrued liabilities and deferred income26,47631,457
Total1,132,8251,091,868
6.Creditors: amounts due after one year

2023

2022

££
Amounts owed to related parties12,757,0957,891,975
Total12,757,0957,891,975
7.Operating lease commitments
At 31 Dec 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £106,000 (2022: £579,500).
8.Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
9.Controlling party
The ultimate controlling company is WeAre8, PBC registered at 224 West 35th Street, Ste 500, New York, NY 10001, USA.