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Registered Number: 08555788
England and Wales

 

 

 

WE DO MORTGAGES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Directors Michael McCartney
Marcus Moran
Registered Number 08555788
Registered Office 77 High Street
Hadleigh
Benfleet
SS7 2PA
Accountants Booksure Accounting Limited
144a High Street
Rayleigh
Essex
SS6 7BU
Secretary Michael McCartney
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 30 June 2024.
Principal activities
Principal activity of the company during the financial year was of mortgage brokers
Directors
The directors who served the company throughout the year were as follows:
Michael McCartney
Marcus Moran
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Michael McCartney
Director
----------------------------------
Marcus Moran
Director

Date approved: 12 February 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 June 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Booksure Accounting Limited
30 June 2024



....................................................
Booksure Accounting Limited
144a High Street
Rayleigh
Essex
SS6 7BU
12 February 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3   1,000 
Tangible fixed assets 4 6,184    8,467 
6,184    9,467 
Current assets      
Debtors 5 64,500    21,476 
Cash at bank and in hand 213,318    135,829 
277,818    157,305 
Creditors: amount falling due within one year 6 (40,373)   (109,386)
Net current assets 237,445    47,919 
 
Total assets less current liabilities 243,629    57,386 
Creditors: amount falling due after more than one year 7 (219,255)   (33,331)
Net assets 24,374    24,055 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 24,274    23,955 
Shareholders' funds 24,374    24,055 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 12 February 2025 and were signed on its behalf by:


-------------------------------
Michael McCartney
Director
-------------------------------
Marcus Moran
Director
4
General Information
We Do Mortgages Ltd is a private company, limited by shares, registered in England and Wales, registration number 08555788, registration address 77 High Street, Hadleigh, Benfleet, SS7 2PA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
2.

Average number of employees


Average number of employees during the year was 14 (2023 : 8).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2023 10,000    10,000 
Additions  
Disposals  
At 30 June 2024 10,000    10,000 
Amortisation
At 01 July 2023 9,000    9,000 
Charge for year 1,000    1,000 
On disposals  
At 30 June 2024 10,000    10,000 
Net book values
At 30 June 2024  
At 30 June 2023 1,000    1,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 July 2023 44,781    44,781 
Additions 1,550    1,550 
Disposals  
At 30 June 2024 46,331    46,331 
Depreciation
At 01 July 2023 36,314    36,314 
Charge for year 3,833    3,833 
On disposals  
At 30 June 2024 40,147    40,147 
Net book values
Closing balance as at 30 June 2024 6,184    6,184 
Opening balance as at 01 July 2023 8,467    8,467 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 500   
Other Debtors 64,000    21,476 
64,500    21,476 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 18,968    26,253 
PAYE & Social Security 21,405    16,573 
Accrued Expenses   55,000 
Other Creditors   11,560 
40,373    109,386 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 27,711    33,331 
Other Creditors 191,544   
219,255    33,331 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

5