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Wearedynamics Limited

Registered Number
SC528434
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

Wearedynamics Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

NICOL, Steve

Registered Address

147 Bath Street
Glasgow
G2 4SQ

Registered Number

SC528434 (Scotland)
Wearedynamics Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets34,4658,930
Tangible assets42,54314,285
Investments5-90,991
7,008114,206
Current assets
Debtors6494,918243,615
Cash at bank and on hand33,511109,140
528,429352,755
Creditors amounts falling due within one year7(191,982)(202,483)
Net current assets (liabilities)336,447150,272
Total assets less current liabilities343,455264,478
Creditors amounts falling due after one year8(32,622)(53,964)
Provisions for liabilities10-(2,141)
Net assets310,833208,373
Capital and reserves
Called up share capital100100
Profit and loss account310,733208,273
Shareholders' funds310,833208,373
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
NICOL, Steve
Director
Registered Company No. SC528434
Wearedynamics Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed 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.
Deferred tax
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.
Intangible assets
Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.
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)
Fixtures and fittings4
Vehicles4
Office Equipment4
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year77
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 2217,86017,860
At 30 November 2317,86017,860
Amortisation and impairment
At 01 December 228,9308,930
Charge for year4,4654,465
At 30 November 2313,39513,395
Net book value
At 30 November 234,4654,465
At 30 November 228,9308,930
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 December 2261,5313008,04069,871
Revaluations--759759
Disposals(9,937)(300)(1,073)(11,310)
At 30 November 2351,594-7,72659,320
Depreciation and impairment
At 01 December 2250,7823004,50455,586
Charge for year10,748-1,75312,501
On disposals(9,937)(300)(1,073)(11,310)
At 30 November 2351,593-5,18456,777
Net book value
At 30 November 231-2,5422,543
At 30 November 2210,749-3,53614,285
5.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 December 2290,99190,991
Disposals(90,991)(90,991)
Net book value
At 30 November 23--
At 30 November 2290,99190,991

Notes

1Other investments other than loans
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables162,632130,922
Other debtors331,244111,651
Prepayments and accrued income1,0421,042
Total494,918243,615
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables59,82369,150
Bank borrowings and overdrafts5,0005,000
Taxation and social security120,76981,960
Finance lease and HP contracts-5,677
Other creditors2,65038,826
Accrued liabilities and deferred income3,7401,870
Total191,982202,483
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.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts32,62237,622
Other creditors-16,342
Total32,62253,964
9.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts-16,342
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-2,141
Total-2,141