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REGISTERED NUMBER: 11085444 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 November 2023

for

WeGlow App Ltd

WeGlow App Ltd (Registered number: 11085444)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WeGlow App Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Ms S Williams
Mr A R Townshend





REGISTERED OFFICE: 2nd Floor National House
60-66 Wardour Street
London
London
W1F 0TA





REGISTERED NUMBER: 11085444 (England and Wales)





ACCOUNTANTS: Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN

WeGlow App Ltd (Registered number: 11085444)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,859 32,389
Investments 5 97,264 126,949
128,123 159,338

CURRENT ASSETS
Debtors 6 558,778 465,729
Cash at bank 16,755 33,138
575,533 498,867
CREDITORS
Amounts falling due within one year 7 109,875 22,947
NET CURRENT ASSETS 465,658 475,920
TOTAL ASSETS LESS CURRENT LIABILITIES 593,781 635,258

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 593,771 635,248
SHAREHOLDERS' FUNDS 593,781 635,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 30 August 2024 and were signed on its behalf by:





Mr A R Townshend - Director


WeGlow App Ltd (Registered number: 11085444)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

WeGlow App Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 18% on reducing balance
Computer equipment - 18% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors
Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable.

Trade creditors
Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year.

Equity instruments
Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

WeGlow App Ltd (Registered number: 11085444)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Investments
Investments are measured at the current market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022 9,819 41,684 51,503
Additions - 4,657 4,657
At 30 November 2023 9,819 46,341 56,160
DEPRECIATION
At 1 December 2022 3,933 15,181 19,114
Charge for year 1,060 5,127 6,187
At 30 November 2023 4,993 20,308 25,301
NET BOOK VALUE
At 30 November 2023 4,826 26,033 30,859
At 30 November 2022 5,886 26,503 32,389

WeGlow App Ltd (Registered number: 11085444)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 December 2022 5 126,944 126,949
Additions - 226,885 226,885
Disposals - (256,719 ) (256,719 )
Revaluations - 149 149
At 30 November 2023 5 97,259 97,264
NET BOOK VALUE
At 30 November 2023 5 97,259 97,264
At 30 November 2022 5 126,944 126,949

Cost or valuation at 30 November 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2023 - 239 239
Cost 5 97,020 97,025
5 97,259 97,264

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 280,664 125,111
Amounts owed by group undertakings 259,202 320,202
Other debtors 18,912 20,416
558,778 465,729

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,833 8,851
Trade creditors 33,756 -
Amounts owed to group undertakings 10,000 -
Taxation and social security 341 12,928
Other creditors 56,945 1,168
109,875 22,947

WeGlow App Ltd (Registered number: 11085444)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100,000 Ordinary 0.000 1 10 10

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr A R Townshend
Balance outstanding at start of year 1,897 -
Amounts advanced - 1,897
Amounts repaid (1,897 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,897