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Registered number: 07090752










FOURTH WALL LIMITED










Financial statements

Information for filing with the registrar

For the Year Ended 30 September 2024

 
FOURTH WALL LIMITED
Registered number: 07090752

Balance sheet
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
299,102
214,379

  
299,102
214,379

Current assets
  

Stocks
 6 
80,848
1

Debtors: amounts falling due within one year
 7 
3,438,865
2,682,516

Cash at bank and in hand
  
1,755,018
1,811,214

  
5,274,731
4,493,731

Creditors: amounts falling due within one year
 8 
(3,331,371)
(3,173,271)

Net current assets
  
 
 
1,943,360
 
 
1,320,460

Total assets less current liabilities
  
2,242,462
1,534,839

Creditors: amounts falling due after more than one year
 9 
-
(66,156)

  

Net assets
  
2,242,462
1,468,683


Capital and reserves
  

Called up share capital 
 10 
75
75

Share premium account
  
25
25

Profit and loss account
  
2,242,362
1,468,583

  
2,242,462
1,468,683


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr A Botes
Director

Date: 27 June 2025

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
FOURTH WALL LIMITED
 

 
Notes to the financial statements
For the Year Ended 30 September 2024

1.


General information

Fourth Wall Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Riverview Business Park, Shore Wood Road, Bromborough, Wirral, CH62 3RQ and the company registration number is 07090752.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling and are rounded to the nearest £1. 
The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
FOURTH WALL LIMITED
 

 
Notes to the financial statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

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 Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
FOURTH WALL LIMITED
 

 
Notes to the financial statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
9% on cost
Hardware
-
20% to 33% on cost
Office equipment
-
20% to 33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
FOURTH WALL LIMITED
 

 
Notes to the financial statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 45 (2023 - 42).


4.


Exceptional items

2024
2023
£
£



Loans (to)/from group undertakings written off
(1,298,252)
(971,127)

Page 5

 
FOURTH WALL LIMITED
 

 
Notes to the financial statements
For the Year Ended 30 September 2024

5.


Tangible fixed assets





Hardware
Office equipment
Leasehold improvements
Total

£
£
£
£



Cost


At 1 October 2023
-
71,542
294,912
366,454


Additions
43,884
61,380
35,563
140,827



At 30 September 2024

43,884
132,922
330,475
507,281



Depreciation


At 1 October 2023
-
57,482
94,593
152,075


Charge for the year
-
26,361
29,743
56,104



At 30 September 2024

-
83,843
124,336
208,179



Net book value



At 30 September 2024
43,884
49,079
206,139
299,102



At 30 September 2023
-
14,060
200,319
214,379


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
80,848
1



7.


Debtors

2024
2023
£
£


Trade debtors
2,430,301
1,693,465

Amounts owed by group undertakings
619,536
478,562

Other debtors
300
1,500

Prepayments and accrued income
388,728
508,989

3,438,865
2,682,516


Page 6

 
FOURTH WALL LIMITED
 

 
Notes to the financial statements
For the Year Ended 30 September 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank and other loans
66,089
59,537

Invoice financing
1,984,259
1,439,446

Trade creditors
375,281
351,331

Amounts owed to group undertakings
-
487,625

Other taxation and social security
772,991
614,934

Other creditors
27,003
39,804

Accruals and deferred income
105,748
180,594

3,331,371
3,173,271


The invoice financing creditor is secured against the book debts of the company. 


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank and other loans
-
66,156



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



75 (2023 - 75) Ordinary shares of £1.00 each
75
75



11.


Contingent liabilities

WeDo Trade Finance Limited hold a first legal charge over all property or undertaking of the company. 


12.


Related party transactions

The company has taken advantage of the exemption in section 33.1A of FRS 102 102 from disclosing transactions entered into between two or more members of a group, as all subsidiaries are wholly owned.


13.


Controlling party

The ultimate controlling party is the parent company, Fourth Wall Creative Limited.

Page 7

 
FOURTH WALL LIMITED
 

 
Notes to the financial statements
For the Year Ended 30 September 2024

14.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 27 June 2025 by James Bagley (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.


Page 8