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REGISTERED NUMBER: 13745827 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

WeSwap.com Limited

WeSwap.com Limited (Registered number: 13745827)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WeSwap.com Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: A Rahman





REGISTERED OFFICE: 142 Central Street
London
EC1V 8A





REGISTERED NUMBER: 13745827 (England and Wales)





ACCOUNTANTS: Ardor Business Solutions Limited
Chartered Certified Accountants
Unit 1
Shrine Barn
Sandling Road
Hythe
Kent
CT21 4HE

WeSwap.com Limited (Registered number: 13745827)

Statement of Financial Position
31 December 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 59,402

CURRENT ASSETS
Stocks - 20,092
Debtors 6 - 409
Cash at bank - 65,813
- 86,314
CREDITORS
Amounts falling due within one year 7 2,400 125,768
NET CURRENT LIABILITIES (2,400 ) (39,454 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,400

)

19,948

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves - 838,680
Retained earnings (2,500 ) (818,832 )
SHAREHOLDERS' FUNDS (2,400 ) 19,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 24 February 2025 and were signed by:





A Rahman - Director


WeSwap.com Limited (Registered number: 13745827)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

WeSwap.com Limited 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 (£).


Amounts are rounded to the nearest Pound Sterling.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The Company ceased trading on 16 December 2024 and therefore the accounts are not prepared on a going concern basis.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of three years.

At 31 December 2024 it was considered that Goodwill had no value due to the cessation of the business and so was written down to nil.

WeSwap.com Limited (Registered number: 13745827)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Income Statement, following an assessment at the Statement of Financial Position date indicating the recoverable amount was less than its carrying value.

Intellectual Property Rights is being amortised evenly over its estimated useful life of three years.

At 31 December 2024 it was considered that Intellectual property Rights had no value due to the cessation of the business and so was written down to nil.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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 statement of financial position date.

Deferred tax
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

WeSwap.com Limited (Registered number: 13745827)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024 75,003 24,000 99,003
Impairments (75,003 ) (24,000 ) (99,003 )
At 31 December 2024 - - -
AMORTISATION
At 1 January 2024 30,001 9,600 39,601
Impairments (30,001 ) (9,600 ) (39,601 )
At 31 December 2024 - - -
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 45,002 14,400 59,402

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Other debtors - 409

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors - 54,698
Taxation and social security - 61,034
Other creditors 2,400 10,036
2,400 125,768

8. POST BALANCE SHEET EVENTS

A voluntary strike-off application has been made to the Registrar of Companies.

9. ULTIMATE CONTROLLING PARTY

The immediate parent company is Steven FS Limited (Formerly known as Blackthorn FS Limited) a company registered in England and Wales.

The ultimate controlling party is Mr G S Kundnani by virtue of his ownership of the share capital of Sync Capital Limited, the ultimate parent Company.