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WETRACK LTD

Financial Statements for the Year Ended 28 February 2025






WETRACK LTD

Company Information
for the Year Ended 28 February 2025







DIRECTORS: M A Olivieri
S L Olivieri





SECRETARY: S L Olivieri





REGISTERED OFFICE: 33 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF





REGISTERED NUMBER: 07969446 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
WETRACK LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WETRACK LTD for the year ended 28 February 2025 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of WETRACK LTD, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of WETRACK LTD and state those matters that we have agreed to state to the Board of Directors of WETRACK LTD, as a body, in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WETRACK LTD and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that WETRACK LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WETRACK LTD. You consider that WETRACK LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of WETRACK LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


12 July 2025

WETRACK LTD (Registered number: 07969446)

Balance Sheet
28 February 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 56,023 3,784

CURRENT ASSETS
Debtors 4 13,715 4,293
Cash at bank 40,694 103,414
54,409 107,707
CREDITORS
Amounts falling due within one year 5 43,331 60,972
NET CURRENT ASSETS 11,078 46,735
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,101

50,519

CREDITORS
Amounts falling due after more than
one year

6

(33,707

)

-

PROVISIONS FOR LIABILITIES - (700 )
NET ASSETS 33,394 49,819

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 33,094 49,519
33,394 49,819

WETRACK LTD (Registered number: 07969446)

Balance Sheet - continued
28 February 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2025 and were signed on its behalf by:





M A Olivieri - Director


WETRACK LTD (Registered number: 07969446)

Notes to the Financial Statements
for the Year Ended 28 February 2025


1. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

WETRACK LTD (Registered number: 07969446)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


3. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 March 2024 2,147 884 11,307 14,338
Additions - 68,833 2,080 70,913
At 28 February 2025 2,147 69,717 13,387 85,251
DEPRECIATION
At 1 March 2024 1,852 605 8,097 10,554
Charge for year 73 17,278 1,323 18,674
At 28 February 2025 1,925 17,883 9,420 29,228
NET BOOK VALUE
At 28 February 2025 222 51,834 3,967 56,023
At 29 February 2024 295 279 3,210 3,784

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 6,594 4,293
Other debtors & prepayments 7,121 -
13,715 4,293

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors 2,821 2,818
Taxes & social security costs 18,547 36,152
Other creditors & accruals 21,963 22,002
43,331 60,972

WETRACK LTD (Registered number: 07969446)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2025 2024
£ £
Other creditors 33,707 -