Company No:
Contents
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 |
31.03.2024 | ||
£ | ||
Current assets | ||
Stocks |
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Debtors | 3 |
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Cash at bank and in hand |
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19,720 | ||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (77,044) | |
Total assets less current liabilities | (77,044) | |
Net liabilities | (
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Capital and reserves | ||
Called-up share capital | 5 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of We Supply Group Ltd (registered number:
Mr G Thomas
Director |
Mr N Thomas
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
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 £.
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.
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.
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.
Period from 12.12.2022 to 31.03.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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31.03.2024 | |
£ | |
Trade debtors |
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Other debtors |
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31.03.2024 | |
£ | |
Trade creditors |
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Amounts owed to associates |
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Amounts owed to related parties |
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Amounts owed to directors |
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Accruals |
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Other taxation and social security |
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31.03.2024 | |
£ | |
Allotted, called-up and fully-paid | |
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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.
Parent Company:
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Sigma House, Oak View Close, Torquay, England, TQ2 7FF |