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REGISTERED NUMBER: 10993816 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

WE ARE WOVEN LTD

WE ARE WOVEN LTD (REGISTERED NUMBER: 10993816)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WE ARE WOVEN LTD

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTOR: Mrs B Kaur





SECRETARY: Ms K E Horton





REGISTERED OFFICE: 21 Knightsbridge
London
SW1X 7LY





REGISTERED NUMBER: 10993816 (England and Wales)





AUDITORS: Xeinadin Audit Limited
100 Barbirolli Square
Manchester
M2 3BD

WE ARE WOVEN LTD (REGISTERED NUMBER: 10993816)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,325,650 391,498
Tangible assets 5 1,518,253 1,676,834
2,843,903 2,068,332

CURRENT ASSETS
Debtors 6 3,418,383 1,932,613
Cash at bank and in hand 51,263 137,246
3,469,646 2,069,859
CREDITORS
Amounts falling due within one year 7 3,559,086 2,034,914
NET CURRENT (LIABILITIES)/ASSETS (89,440 ) 34,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,754,463

2,103,277

PROVISIONS FOR LIABILITIES 621,944 446,383
NET ASSETS 2,132,519 1,656,894

CAPITAL AND RESERVES
Called up share capital 9 1 1
Revaluation reserve 10 922,472 1,335,397
Retained earnings 1,210,046 321,496
SHAREHOLDERS' FUNDS 2,132,519 1,656,894

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 Profit and Loss Account and OCI has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:





Mrs B Kaur - Director


WE ARE WOVEN LTD (REGISTERED NUMBER: 10993816)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

We Are Woven Ltd is a private company limited by shares, registered in England and Wales, registration number 10993816. The registered office is 21 Knightsbridge, London SW1X 7LY and its principal place of business are First Floor, Wyndham Court, 12-20 Pritchard Street, St Pauls, Bristol, BS2 8RH and Gamma 6a, Masterlord Estates, West Road, Ipswich, IP3 9FF.

These financial statements are presented in sterling, which is also the Company's functional currency, and are rounded to the nearest pound.

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 as modified by the revaluation of certain assets.

Going concern
The financial statements have been prepared on a going concern basis, as the directors have assessed that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered the company’s financial position, performance, and cash flows and have not identified any material uncertainties that may cast significant doubt on its ability to continue as a going concern.

Turnover
Turnover represents sales to external customers at invoiced amounts less value added tax. Turnover is recognised when services are provided to the customer.

Turnover principally consists of the provision of providing 24 hour call centre cover to clients.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on plant and equipment is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following method

Fixtures and fittings-7.5% reducing balance
Computer equipment-10% reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.


WE ARE WOVEN LTD (REGISTERED NUMBER: 10993816)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued
Current and deferred taxation
The taxation expense is comprised of both current and deferred tax.

Current tax is the tax payable on taxable profits for the period, calculated using applicable tax rates and legislation enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax computation. Deferred tax assets are recognised only to the extent that their recovery is considered probable. Deferred tax balances are measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is not discounted.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand. Any bank overdrafts are shown within current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 145 (2023 - 68 ) .

WE ARE WOVEN LTD (REGISTERED NUMBER: 10993816)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024


4. INTANGIBLE FIXED ASSETS
Patents
and Computer
Goodwill licences software Totals
£    £    £    £   
COST
At 1 September 2023 328,639 76,359 - 404,998
Additions - - 1,000,000 1,000,000
At 31 August 2024 328,639 76,359 1,000,000 1,404,998
AMORTISATION
At 1 September 2023 10,955 2,545 - 13,500
Amortisation for year 32,864 3,818 29,166 65,848
At 31 August 2024 43,819 6,363 29,166 79,348
NET BOOK VALUE
At 31 August 2024 284,820 69,996 970,834 1,325,650
At 31 August 2023 317,684 73,814 - 391,498

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 310,135 1,475,397 1,785,532
Additions - 1,598 1,598
At 31 August 2024 310,135 1,476,995 1,787,130
DEPRECIATION
At 1 September 2023 10,338 98,360 108,698
Charge for year 22,485 137,694 160,179
At 31 August 2024 32,823 236,054 268,877
NET BOOK VALUE
At 31 August 2024 277,312 1,240,941 1,518,253
At 31 August 2023 299,797 1,377,037 1,676,834

Cost or valuation at 31 August 2024 is represented by:

Fixtures
and Computer
fittings equipment Totals
£    £    £   
Valuation in 2023 309,265 1,471,266 1,780,531
Cost 870 5,729 6,599
310,135 1,476,995 1,787,130

WE ARE WOVEN LTD (REGISTERED NUMBER: 10993816)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024


5. TANGIBLE FIXED ASSETS - continued

Tangible fixed assets are measured at fair market value, as determined by the directors at each reporting date, less accumulated depreciation and impairment. Revaluation gains are recognised in other comprehensive income and accumulated in the revaluation reserve. Depreciation is charged systematically over the asset's useful life. Impairment losses are recognised when necessary.

An annual transfer from the revaluation reserve to retained earnings is made equal to the excess depreciation on the revalued amount. On disposal, any remaining revaluation surplus is transferred to retained earnings.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 512,591 487,936
Amounts owed by group undertakings 2,164,161 1,127,774
Other debtors 741,631 316,903
3,418,383 1,932,613

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 85,042 44,482
Taxation and social security 152,213 359,793
Other creditors 3,321,831 1,630,639
3,559,086 2,034,914

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 171,600 16,200
Between one and five years 239,093 64,800
In more than five years 7,565 13,500
418,258 94,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1

10. RESERVES
Revaluation
reserve
£   
At 1 September 2023 1,335,397
Annual Transfer (412,925 )

At 31 August 2024 922,472

WE ARE WOVEN LTD (REGISTERED NUMBER: 10993816)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024


11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Lloyd (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year ended 31st August 2024 the company provided and purchased services from companies associated with the director. The net cost to the company's profit and loss account of these transactions, at market value, was £200,000 (2023: £1,300,000). As at the year end, the company owed £3,310,327 (2023: £1,581,838) and the company was owed £600,000 (2023: £165,000) from these companies.

13. ULTIMATE CONTROLLING PARTY

The company's ultimate parent is Icxperience Ltd, incorporated in England and Wales. The parent company of the largest and smallest group that includes the company and for which group financial statements are prepared is Icxperience Ltd. Consolidated financial statements of the group can be requested from the registered office 21 Knightsbridge, London, England, SW1X 7LY.