WIBN Associates Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

WIBN Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06300257 . The registered office is 82 Wandsworth Bridge Road, London, SW6 2TF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

33% Straight Line

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

Page 2

Page 3

WIBN Associates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: NIL)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 September 2023	10,791

As at 31 August 2024	10,791

Depreciation
As at 1 September 2023	10,501
Provided during the period	290

As at 31 August 2024	10,791

Net Book Value
As at 31 August 2024	-

As at 1 September 2023	290

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	13,126	3,332
Prepayments and accrued income	7,267	23,844
Other debtors	-	1,464

	20,393	28,640

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Bank loans and overdrafts	15,547	16,147
Corporation tax	-	5,000
Other taxes and social security	7,354	3,895
Other creditors	123	45
Accruals and deferred income	3,000	1,750
Directors' loan accounts	19,904	20,625

	45,928	47,462

7. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
75 Ordinary A shares of £ 1.000 each	75	50
25 Ordinary B shares of £ 1.000 each	25	50

	100	100

Page 3

Page 4

WIBN Associates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2024

8. Related Party Transactions

Najat Johnson

Former Director and shareholder

Ms Johnson has a credit loan balance with the company which is lent on an unsecured and interest free basis. At the year end the balance owed to Ms Johnson amounted to £Nil (2023: £1,558).

Helen Fletcher

Director and shareholder

Ms Fletcher has a credit loan balance with the company which is lent on an unsecured, interest free basis and is repayable on demand. At the year end the balance owed to Ms Fletcher amounted to £19,904 (2023: £19,067).

Page 4

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		290

			-		290
CURRENT ASSETS
Debtors	5	20,393		28,640
Cash at bank and in hand		14,813		5,462

		35,206		34,102
Creditors: Amounts Falling Due Within One Year	6	(45,928 )		(47,462 )

NET CURRENT ASSETS (LIABILITIES)			(10,722 )		(13,360 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(10,722 )		(13,070 )

NET LIABILITIES			(10,722 )		(13,070 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			(10,822 )		(13,170 )

SHAREHOLDERS' FUNDS			(10,722)		(13,070)