Silverfin false false 31/03/2024 12/12/2022 31/03/2024 Thomas Brothers Holdings Ltd 12/12/2022 12/12/2022 Mr G Thomas 12/12/2022 Mr N Thomas 12/12/2022 11 September 2024 The principal activity of the company during the financial period was retail of fasteners, fixings, tools, and related items. 14536376 2024-03-31 14536376 bus:Director1 2024-03-31 14536376 bus:Director2 2024-03-31 14536376 bus:Director3 2024-03-31 14536376 core:CurrentFinancialInstruments 2024-03-31 14536376 core:ShareCapital 2024-03-31 14536376 core:RetainedEarningsAccumulatedLosses 2024-03-31 14536376 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-03-31 14536376 bus:OrdinaryShareClass1 2024-03-31 14536376 2022-12-12 2024-03-31 14536376 bus:FilletedAccounts 2022-12-12 2024-03-31 14536376 bus:SmallEntities 2022-12-12 2024-03-31 14536376 bus:AuditExemptWithAccountantsReport 2022-12-12 2024-03-31 14536376 bus:PrivateLimitedCompanyLtd 2022-12-12 2024-03-31 14536376 bus:Director1 2022-12-12 2024-03-31 14536376 bus:Director2 2022-12-12 2024-03-31 14536376 bus:Director3 2022-12-12 2024-03-31 14536376 bus:OrdinaryShareClass1 2022-12-12 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14536376 (England and Wales)

WE SUPPLY GROUP LTD

Unaudited Financial Statements
For the financial period from 12 December 2022 to 31 March 2024
Pages for filing with the registrar

WE SUPPLY GROUP LTD

Unaudited Financial Statements

For the financial period from 12 December 2022 to 31 March 2024

Contents

WE SUPPLY GROUP LTD

COMPANY INFORMATION

For the financial period from 12 December 2022 to 31 March 2024
WE SUPPLY GROUP LTD

COMPANY INFORMATION (continued)

For the financial period from 12 December 2022 to 31 March 2024
DIRECTORS Thomas Brothers Holdings Ltd (Appointed 12 December 2022, Resigned 12 December 2022)
Mr G Thomas (Appointed 12 December 2022)
Mr N Thomas (Appointed 12 December 2022)
REGISTERED OFFICE 1 Brunel Road
Newton Abbot
TQ12 4PB
England
United Kingdom
COMPANY NUMBER 14536376 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
WE SUPPLY GROUP LTD

BALANCE SHEET

As at 31 March 2024
WE SUPPLY GROUP LTD

BALANCE SHEET (continued)

As at 31 March 2024
31.03.2024
£
Current assets
Stocks 6,626
Debtors 3 11,863
Cash at bank and in hand 1,231
19,720
Creditors: amounts falling due within one year 4 ( 96,764)
Net current liabilities (77,044)
Total assets less current liabilities (77,044)
Net liabilities ( 77,044)
Capital and reserves
Called-up share capital 5 150
Profit and loss account ( 77,194 )
Total shareholders' deficit ( 77,044)

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of We Supply Group Ltd (registered number: 14536376) were approved and authorised for issue by the Board of Directors on 11 September 2024. They were signed on its behalf by:

Mr G Thomas
Director
Mr N Thomas
Director
WE SUPPLY GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 12 December 2022 to 31 March 2024
WE SUPPLY GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 12 December 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

We Supply Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Brunel Road, Newton Abbot, TQ12 4PB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £77,044. The Company is supported through loans from an associated company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the associated company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The accounting period has been extended from 31st December to 31st March enabling the company to be in line with other members of the group. The reporting period length is 475 days. Subsequent periods will end on the same day and month in future years.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
12.12.2022 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 3

3. Debtors

31.03.2024
£
Trade debtors 351
Other debtors 11,512
11,863

4. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 18,278
Amounts owed to associates 59,091
Amounts owed to related parties 5,253
Amounts owed to directors 6,000
Accruals 2,250
Other taxation and social security 5,892
96,764

5. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
150 Ordinary shares of £ 1.00 each 150

On 12 December 2022, 100 ordinary shares with a nominal value of £150 were allotted.
On 10 October 2023, 50 Ordinary shares were allotted with a nominal value of £1.
On 24 October 2023, the company reduced the nominal value of its original 100 shares from £150 to £1.

6. Ultimate controlling party

Parent Company:

Thomas Brothers Holdings Ltd
Sigma House,
Oak View Close,
Torquay,
England,
TQ2 7FF