Company registration number:
SC785119
We3 Partners Ltd
Unaudited filleted financial statements
31 October 2024
We3 Partners Ltd
Contents
Statement of financial position
Notes to the financial statements
We3 Partners Ltd
Statement of financial position
31 October 2024
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31/10/24 |
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Note |
£ |
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£ |
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Current assets |
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Debtors |
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4 |
290 |
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Cash at bank and in hand |
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680 |
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_______ |
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970 |
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Creditors: amounts falling due |
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within one year |
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5 |
(
3,621) |
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_______ |
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Net current liabilities |
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(
2,651) |
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_______ |
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Total assets less current liabilities |
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(
2,651) |
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_______ |
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Net liabilities |
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(
2,651) |
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_______ |
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Capital and reserves |
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Called up share capital |
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5 |
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Profit and loss account |
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(
2,656) |
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_______ |
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Shareholders deficit |
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(
2,651) |
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_______ |
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For the period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
22 May 2025
, and are signed on behalf of the board by:
Mark E Walker
Julian R Walker
Director
Director
Company registration number:
SC785119
We3 Partners Ltd
Notes to the financial statements
Period ended 31 October 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 5 South Charlotte Street, Edinburgh, EH2 4AN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The directors have, at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
4.
Debtors
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31/10/24 |
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£ |
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Other debtors |
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290 |
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_______ |
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5.
Creditors: amounts falling due within one year
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31/10/24 |
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£ |
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Other creditors |
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3,621 |
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_______ |
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6.
Directors advances, credits and guarantees
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During the period the directors entered into the following advances and credits with the company: |
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Period ended 31/10/24 |
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Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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Mark E Walker |
- |
(
1,500) |
2 |
(
1,498) |
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Julian R Walker |
- |
(
1,500) |
2 |
(
1,498) |
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_______ |
_______ |
_______ |
_______ |
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- |
(
3,000) |
4 |
(
2,996) |
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_______ |
_______ |
_______ |
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Loans from the directors are interest free and repayable on demand.