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REGISTERED NUMBER: 11634439 (England and Wales)















WE ARE FINANCE LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2023






WE ARE FINANCE LTD (REGISTERED NUMBER: 11634439)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WE ARE FINANCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2023







DIRECTORS: A J Walls
Ms M A Hird





REGISTERED OFFICE: Park House
Park Square West
Leeds
LS1 2PW





REGISTERED NUMBER: 11634439 (England and Wales)





ACCOUNTANTS: Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF

WE ARE FINANCE LTD (REGISTERED NUMBER: 11634439)

BALANCE SHEET
30 DECEMBER 2023

30.12.23 30.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,326 4,466
Investments 5 1,000 1,000
4,326 5,466

CURRENT ASSETS
Debtors 6 5,313,361 4,867,444
Cash at bank 44,648 313,752
5,358,009 5,181,196
CREDITORS
Amounts falling due within one year 7 5,111,503 5,023,668
NET CURRENT ASSETS 246,506 157,528
TOTAL ASSETS LESS CURRENT
LIABILITIES

250,832

162,994

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 249,832 161,994
250,832 162,994

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

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

WE ARE FINANCE LTD (REGISTERED NUMBER: 11634439)

BALANCE SHEET - continued
30 DECEMBER 2023


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 12 July 2024 and were signed on its behalf by:




A J Walls - Director



Ms M A Hird - Director


WE ARE FINANCE LTD (REGISTERED NUMBER: 11634439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023


1. STATUTORY INFORMATION

We Are Finance 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about We Are Finance Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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.


WE ARE FINANCE LTD (REGISTERED NUMBER: 11634439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 31 December 2022
and 30 December 2023 4,561
DEPRECIATION
At 31 December 2022 95
Charge for year 1,140
At 30 December 2023 1,235
NET BOOK VALUE
At 30 December 2023 3,326
At 30 December 2022 4,466

WE ARE FINANCE LTD (REGISTERED NUMBER: 11634439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 31 December 2022
and 30 December 2023 1,000
NET BOOK VALUE
At 30 December 2023 1,000
At 30 December 2022 1,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Fresh Thinking Management Ltd
Registered office: Park House, Park Square West, Leeds, England, LS1 2PW
Nature of business: 64999- Financial intermediation
%
Class of shares: holding
Ordinary A 100.00
30.12.23 30.12.22
£    £   
Aggregate capital and reserves 1,276,313 975,680
Profit for the year/period 300,633 94,844

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.23 30.12.22
£    £   
Amounts owed by group undertakings 3,142,638 3,640,778
Other debtors 2,170,723 1,226,666
5,313,361 4,867,444

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.23 30.12.22
£    £   
Amounts owed to group undertakings 5,109,056 5,022,168
Taxation and social security 947 -
Accrued expenses 1,500 1,500
5,111,503 5,023,668