1 March 2024 v2025.31.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP121747272024-03-012025-02-28121747272025-02-28121747272024-02-2912174727core:WithinOneYear2025-02-2812174727core:WithinOneYear2024-02-2912174727core:AfterOneYear2025-02-2812174727core:AfterOneYear2024-02-2912174727core:ShareCapital2025-02-2812174727core:ShareCapital2024-02-2912174727core:RetainedEarningsAccumulatedLosses2025-02-2812174727core:RetainedEarningsAccumulatedLosses2024-02-2912174727bus:Director12024-03-012025-02-2812174727bus:RegisteredOffice2024-03-012025-02-2812174727core:MotorVehicles2024-03-012025-02-2812174727core:PlantMachinery2024-03-012025-02-2812174727core:FurnitureFittings2024-03-012025-02-28121747272023-09-012024-02-2912174727core:PlantMachinery2024-03-0112174727core:PlantMachinery2025-02-2812174727core:PlantMachinery2024-02-2912174727core:CostValuation2024-03-0112174727core:DisposalsRepaymentsInvestments2025-02-281217472712024-03-012025-02-2812174727countries:EnglandWales2024-03-012025-02-2812174727bus:AuditExemptWithAccountantsReport2024-03-012025-02-2812174727bus:PrivateLimitedCompanyLtd2024-03-012025-02-2812174727bus:SmallEntities2024-03-012025-02-2812174727bus:FullAccounts2024-03-012025-02-28
Company registration number:
12174727
We Secure Limited
Unaudited Filleted Financial Statements for the year ended
28 February 2025
We Secure Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of We Secure Limited
Year ended
28 February 2025
As described on the statement of financial position, the Board of Directors of
We Secure Limited
are responsible for the preparation of the
financial statements
for the year ended
28 February 2025
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Clear Accountant and Tax Consultant Limited
466 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6LE
United Kingdom
We Secure Limited
Statement of Financial Position
28 February 2025
20252024
Note££
Fixed assets    
Tangible assets 5
130,724
 
108,802
 
Investments 6 -  
21,500
 
130,724
 
130,302
 
Current assets    
Debtors 7
3,425,205
 
2,676,401
 
Cash at bank and in hand
1,743,623
 
622,490
 
5,168,828
 
3,298,891
 
Creditors: amounts falling due within one year 8
(4,713,212
)
(3,185,103
)
Net current assets
455,616
 
113,788
 
Total assets less current liabilities 586,340   244,090  
Creditors: amounts falling due after more than one year 9
(7,222
)
(51,749
)
Net assets
579,118
 
192,341
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
579,117
 
192,340
 
Shareholders funds
579,118
 
192,341
 
For the year ending
28 February 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
26 May 2025
, and are signed on behalf of the board by:
M Tahseen
Director
Company registration number:
12174727
We Secure Limited
Notes to the Financial Statements
Year ended
28 February 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Suite L5 Rockingham Logistics Hub
,
Mitchell Road
,
Corby
,
NN17 5AF
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
These financial statements have been prepared from 1 September 2023 to 29 February 2024 due to change in accounting period. Therefore, the comparative figures are not comparable.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
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 associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
20% reducing balance method
Plant and machinery
3 Years straight line method
Fixtures and fittings
3 Years straight line method

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
272
(2024:
60.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 March 2024
151,100
 
Additions
54,493
 
At
28 February 2025
205,593
 
Depreciation  
At
1 March 2024
42,298
 
Charge
32,571
 
At
28 February 2025
74,869
 
Carrying amount  
At
28 February 2025
130,724
 
At 29 February 2024
108,802
 

6 Investments

Other investments other than loans
£
Cost  
At
1 March 2024
21,500
 
Disposals
(21,500
)
At
28 February 2025
-  
Impairment  
At
1 March 2024
and
28 February 2025
-  
Carrying amount  
At
28 February 2025
-  
At 29 February 2024
21,500
 

7 Debtors

20252024
££
Trade debtors
953,756
 
1,082,605
 
Other debtors
2,471,449
 
1,593,796
 
3,425,205
 
2,676,401
 
Included within other debtors is an amount of £43,182 (2023 - Nil) owed by the director of the company. Interest of £972 (2023- Nil) has been charged.

8 Creditors: amounts falling due within one year

20252024
££
Trade creditors
4,138,170
 
2,987,559
 
Taxation and social security
347,067
 
98,698
 
Other creditors
227,975
 
98,846
 
4,713,212
 
3,185,103
 

9 Creditors: amounts falling due after more than one year

20252024
££
Other creditors
7,222
 
51,749