Company Registration No. 08677581 (England and Wales)
We Know Group Limited
Unaudited accounts
for the year ended 30 September 2024
We Know Group Limited
Unaudited accounts
Contents
We Know Group Limited
Company Information
for the year ended 30 September 2024
Director
Mr Peter Buchanan
Company Number
08677581 (England and Wales)
Registered Office
RU0019 Arrival Concourse, Terminal 5
London Heathrow Airport
Hounslow
TW6 2GA
England
Accountants
EPIC Administration Limited
Audrey House
16-20 Ely Place
London
EC1N 6SN
We Know Group Limited
Statement of financial position
as at 30 September 2024
Intangible assets
176,657
133,441
Tangible assets
1,765,290
1,053,078
Cash at bank and in hand
390,579
1,523,849
Creditors: amounts falling due within one year
(4,326,311)
(3,059,264)
Net current liabilities
(1,779,151)
(636,943)
Total assets less current liabilities
162,796
549,576
Creditors: amounts falling due after more than one year
(2,911,147)
(3,560,420)
Net liabilities
(2,748,351)
(3,010,844)
Called up share capital
4,239,168
4,239,168
Profit and loss account
(6,987,519)
(7,250,012)
Shareholders' funds
(2,748,351)
(3,010,844)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 February 2025 and were signed on its behalf by
Mr Peter Buchanan
Director
Company Registration No. 08677581
We Know Group Limited
Notes to the Accounts
for the year ended 30 September 2024
We Know Group Limited is a private company, limited by shares, registered in England and Wales, registration number 08677581. The registered office is RU0019 Arrival Concourse, Terminal 5, London Heathrow Airport, Hounslow, TW6 2GA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard aoplicable in the UK and Republic of Ireland" including the provisions of Section 1 A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of six years.
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.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 33% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
We Know Group Limited
Notes to the Accounts
for the year ended 30 September 2024
Taxation for the period 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 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 period 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 October 2023
1,210,004
311,905
1,521,909
Additions
-
130,935
130,935
At 30 September 2024
1,210,004
442,840
1,652,844
At 1 October 2023
1,210,004
178,464
1,388,468
Charge for the year
-
87,719
87,719
At 30 September 2024
1,210,004
266,183
1,476,187
At 30 September 2024
-
176,657
176,657
At 30 September 2023
-
133,441
133,441
We Know Group Limited
Notes to the Accounts
for the year ended 30 September 2024
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2023
3,665
1,910,230
157,616
542,811
2,614,322
Additions
-
985,656
28,242
353,527
1,367,425
Disposals
-
(467,695)
(4,818)
-
(472,513)
At 30 September 2024
3,665
2,428,191
181,040
896,338
3,509,234
At 1 October 2023
3,665
1,078,057
50,569
428,953
1,561,244
Charge for the year
-
411,170
39,044
150,411
600,625
On disposals
-
(417,524)
(401)
-
(417,925)
At 30 September 2024
3,665
1,071,703
89,212
579,364
1,743,944
At 30 September 2024
-
1,356,488
91,828
316,974
1,765,290
At 30 September 2023
-
832,173
107,047
113,858
1,053,078
Amounts falling due within one year
Trade debtors
801,657
158,294
Accrued income and prepayments
1,279,326
676,606
Other debtors
30,423
25,423
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
503,258
457,988
Trade creditors
1,967,054
1,421,501
Taxes and social security
126,900
148,363
Other creditors
38,432
32,631
Accruals
1,620,744
928,858
Deferred income
69,923
69,923
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
302,015
589,141
Other creditors
2,585,660
2,937,800
We Know Group Limited
Notes to the Accounts
for the year ended 30 September 2024
9
Average number of employees
During the year the average number of employees was 25 (2023: 27).