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REGISTERED NUMBER: 10757866 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

We Are Utopia Ltd

We Are Utopia Ltd (Registered number: 10757866)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


We Are Utopia Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs N Pullinger
Mr T Farinto
Mr A P De Groose





REGISTERED OFFICE: 127 Fawnbrake Avenue
London
SE24 0BG





REGISTERED NUMBER: 10757866 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

We Are Utopia Ltd (Registered number: 10757866)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,691 10,929

CURRENT ASSETS
Debtors: amounts falling due within one year 5 307,964 110,317
Cash at bank 9,513 47,557
317,477 157,874
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

6

(658,752

)

(286,322

)
NET CURRENT LIABILITIES (341,275 ) (128,448 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(336,584

)

(117,519

)

CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE YEAR

7

146,645

-

PROVISIONS FOR LIABILITIES 9 1,173 2,076

CAPITAL AND RESERVES
Called up share capital 1,493 500
Capital redemption reserve 10 500 500
Retained earnings 10 (486,395 ) (120,595 )
(484,402 ) (119,595 )
(336,584 ) (117,519 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 Utopia Ltd (Registered number: 10757866)

Balance Sheet - continued
30 June 2024


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 4 March 2025 and were signed on its behalf by:





Mr A P De Groose - Director


We Are Utopia Ltd (Registered number: 10757866)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

We Are Utopia 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
At 30 June 2024, the company had net current liabilities of £341,275 (2023: £128,448) and total net liabilities of £336,584 (2023: £117,519). The company relies on the loan funding provided by its investors. The director is of the opinion that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by its investors.

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.
Fixtures and fittings - 20% on cost
Computer equipment - Straight line over 3 years

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 11 (2023 - 16 ) .

We Are Utopia Ltd (Registered number: 10757866)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 2,977 29,404 32,381
Additions - 958 958
At 30 June 2024 2,977 30,362 33,339
DEPRECIATION
At 1 July 2023 1,095 20,357 21,452
Charge for year 596 6,600 7,196
At 30 June 2024 1,691 26,957 28,648
NET BOOK VALUE
At 30 June 2024 1,286 3,405 4,691
At 30 June 2023 1,882 9,047 10,929

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 293,419 52,486
Other debtors 993 2,850
Deposits 8,140 36,974
Tax 568 12,850
Prepayments 4,844 5,157
307,964 110,317

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 92,807 -
Payments on account 58,863 -
Trade creditors 27,030 48,589
Social security and other taxes 77,664 132,772
Wages payable 3,799 -
Pensions payable 1,134 3,213
VAT 65,761 10,342
Other creditors 1,359 10,057
Directors' current accounts 14,989 -
Accruals and deferred income 315,346 81,349
658,752 286,322

We Are Utopia Ltd (Registered number: 10757866)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 15,969 -
Social Security > 1 Year 42,147 -
Directors' loan accounts 88,529 -
146,645 -

8. FINANCIAL INSTRUMENTS

Bank loans have been measured at cost.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,173 2,076

Deferred Other
tax provisions
£    £   
Balance at 1 July 2023 2,076 563
Accelerated capital allowances (903 ) -
Balance at 30 June 2024 1,173 563

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 July 2023 (120,595 ) 500 (120,095 )
Deficit for the year (365,800 ) (365,800 )
At 30 June 2024 (486,395 ) 500 (485,895 )

11. OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of Bank loan as at 30 June 2024 of £72,015.

We Are Utopia Ltd (Registered number: 10757866)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mrs N Pullinger
Balance outstanding at start of year - -
Amounts advanced 112,300 -
Amounts repaid (8,782 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 103,518 -