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REGISTERED NUMBER: SC618789 (Scotland)















Financial Statements For The Year Ended 31 December 2023

for

Wedge Traffic Limited

Wedge Traffic Limited (Registered number: SC618789)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Wedge Traffic Limited

Company Information
For The Year Ended 31 December 2023







DIRECTOR: J P Gnat





REGISTERED OFFICE: 2 Orbital Court
Peel Park
East Kilbride
Glasgow
G74 5PH





REGISTERED NUMBER: SC618789 (Scotland)





INDEPENDENT AUDITORS: Robb Ferguson
Chartered Accountants & Statutory Auditors
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Wedge Traffic Limited (Registered number: SC618789)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,999 17,318

CURRENT ASSETS
Debtors 5 6,329 28,911
Cash at bank 33,441 1,669,269
39,770 1,698,180
CREDITORS
Amounts falling due within one year 6 70,460 1,693,008
NET CURRENT (LIABILITIES)/ASSETS (30,690 ) 5,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,691

)

22,490

PROVISIONS FOR LIABILITIES - 3,290
NET (LIABILITIES)/ASSETS (25,691 ) 19,200

CAPITAL AND RESERVES
Called up share capital 279 279
Retained earnings (25,970 ) 18,921
SHAREHOLDERS' FUNDS (25,691 ) 19,200

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





J P Gnat - Director


Wedge Traffic Limited (Registered number: SC618789)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Wedge Traffic Limited is a private company, limited by shares , registered in Scotland. 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.

The company reports net liabilities on the statement of financial position at the year end date and as detailed in Note 11 to the financial statements, once employees are merged into another group company, the company will cease to exist.
Accordingly, the director has considered the appropriateness of the going concern basis for preparing the financial statements. The company relies on support from its subsidiary to ensure that it can continue to meet all obligations as they fall due, including any obligations arising on the cessation of the company. The subsidiary has confirmed that it will continue to provide ongoing support as required. As such, the director is of the view that it is appropriate to prepare these accounts on a going concern basis.

Related party exemption
The company owns 100% of the share capital of Wedge Traffic Inc (USA).

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.
Office equipment - 33.33% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the statement of comprehensive income . Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.


Wedge Traffic Limited (Registered number: SC618789)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income , 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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 January 2023 25,863
Additions 25,612
Impairments (19,583 )
At 31 December 2023 31,892
DEPRECIATION
At 1 January 2023 8,545
Charge for year 18,348
At 31 December 2023 26,893
NET BOOK VALUE
At 31 December 2023 4,999
At 31 December 2022 17,318

Wedge Traffic Limited (Registered number: SC618789)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 333 153
Tax - 1,150
VAT 4,770 27,608
Prepayments 1,226 -
6,329 28,911

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,632 20,365
Social security and other taxes 14,466 9,816
Other creditors 47,057 1,657,673
Accrued expenses 6,305 5,154
70,460 1,693,008

7. SECURED DEBTS

Beedie Investments Ltd hold a fixed charge over the assets of the company in respect of the borrowings of it's immediate parent company.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Janice Alexander (Senior Statutory Auditor)
for and on behalf of Robb Ferguson

9. CONTINGENT LIABILITIES

The company has granted security against it's assets in respect of the borrowings of its immediate parent company, Playmaker Capital Inc.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
D M Copeland
Balance outstanding at start of year - (63 )
Amounts repaid - -
Amounts written off - 63
Amounts waived - -
Balance outstanding at end of year - -

Wedge Traffic Limited (Registered number: SC618789)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

D Kersh
Balance outstanding at start of year - (63 )
Amounts repaid - -
Amounts written off - 63
Amounts waived - -
Balance outstanding at end of year - -

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. POST BALANCE SHEET EVENTS

The company has confirmed it will merge into the Better Collective structure, with employees being transferred to Better Collective UK Services. Once this is complete Wedge Traffic (UK) Limited will be struck from the register, and the aim is to complete this by February 2025.

13. ULTIMATE CONTROLLING PARTY

The immediate parent is Playmaker Capital Inc, a company incorporated in Canada with its registered office at 2
St Clair Ave W, Suite 601, Toronto, Ontario. The ultimate controlling party at the date of signing the financial
statements is Better Collective A/S, a company incorporated in Denmark with its registered office at Sankt
Annae Plads 28, 1250 Copenhagen.