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REGISTERED NUMBER: 08131212 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

WOVEN INC LIMITED

WOVEN INC LIMITED (REGISTERED NUMBER: 08131212)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOVEN INC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: S L Taylor
I Taylor





REGISTERED OFFICE: Unit 9 Stratford Road
Pattinson Industrial Estate
Washington
NE38 8QP





REGISTERED NUMBER: 08131212 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

WOVEN INC LIMITED (REGISTERED NUMBER: 08131212)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 250,718 371,072

CURRENT ASSETS
Stocks 5 44,000 40,000
Debtors 6 191,575 111,845
Cash at bank and in hand 180,125 126,080
415,700 277,925
CREDITORS
Amounts falling due within one year 7 344,825 245,937
NET CURRENT ASSETS 70,875 31,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,593

403,060

CREDITORS
Amounts falling due after more than one
year

8

(119,511

)

(216,143

)

PROVISIONS FOR LIABILITIES (50,930 ) (74,852 )
NET ASSETS 151,152 112,065

CAPITAL AND RESERVES
Called up share capital 11 20 20
Retained earnings 151,132 112,045
SHAREHOLDERS' FUNDS 151,152 112,065

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

WOVEN INC LIMITED (REGISTERED NUMBER: 08131212)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





S L Taylor - Director


WOVEN INC LIMITED (REGISTERED NUMBER: 08131212)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Woven Inc 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the company becomes entitled to it.

Tangible fixed assets
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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

WOVEN INC LIMITED (REGISTERED NUMBER: 08131212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

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.

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 21 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 622,954
Additions 1,083
Disposals (63,275 )
At 31 August 2024 560,762
DEPRECIATION
At 1 September 2023 251,882
Charge for year 80,737
Eliminated on disposal (22,575 )
At 31 August 2024 310,044
NET BOOK VALUE
At 31 August 2024 250,718
At 31 August 2023 371,072

WOVEN INC LIMITED (REGISTERED NUMBER: 08131212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023 275,782
Disposals (63,275 )
At 31 August 2024 212,507
DEPRECIATION
At 1 September 2023 86,418
Charge for year 42,510
Eliminated on disposal (22,575 )
At 31 August 2024 106,353
NET BOOK VALUE
At 31 August 2024 106,154
At 31 August 2023 189,364

5. STOCKS
2024 2023
£    £   
Stocks 44,000 40,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 185,575 98,119
Other debtors 6,000 13,726
191,575 111,845

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 35,712 34,176
Trade creditors 138,410 107,940
Taxation and social security 71,705 8,544
Other creditors 88,998 85,277
344,825 245,937

WOVEN INC LIMITED (REGISTERED NUMBER: 08131212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,500 17,516
Hire purchase contracts (see note 9) 112,011 198,627
119,511 216,143

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 35,712 34,176
Between one and five years 112,011 198,627
147,723 232,803

Non-cancellable operating leases
2024 2023
£    £   
Within one year 25,670 25,670
Between one and five years - 25,670
25,670 51,340

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 147,723 232,803

The hire purchase contracts are secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20 Ordinary £1 20 20

WOVEN INC LIMITED (REGISTERED NUMBER: 08131212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
I Taylor
Balance outstanding at start of year 25 (32 )
Amounts advanced - 53,835
Amounts repaid (25 ) (53,778 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 25

S L Taylor
Balance outstanding at start of year 25 (32 )
Amounts advanced - 51,553
Amounts repaid (25 ) (51,496 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 25

13. RELATED PARTY DISCLOSURES

During the year the company was provided with an interest free loan from the director. The balance on the loan at 31 August 2024 was £16,381 (2023: £Nil).