COMPANY REGISTRATION NUMBER:
11959284
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WeDo Support Services Limited |
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Filleted Financial Statements |
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WeDo Support Services Limited |
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Statement of Financial Position |
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31 December 2024
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31 Dec 24 |
31 Jul 23 |
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Note |
£ |
£ |
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Current assets
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Debtors |
4 |
2,699,477 |
3,546,840 |
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Cash at bank and in hand |
23,736 |
67,407 |
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2,723,213 |
3,614,247 |
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Creditors: amounts falling due within one year |
5 |
2,635,486 |
3,570,599 |
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Net current assets |
87,727 |
43,648 |
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------- |
------- |
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Total assets less current liabilities |
87,727 |
43,648 |
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------- |
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Net assets |
87,727 |
43,648 |
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------- |
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Capital and reserves
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Called up share capital |
6 |
1 |
1 |
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Profit and loss account |
87,726 |
43,647 |
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------- |
------- |
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Shareholders funds |
87,727 |
43,648 |
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------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
29 August 2025
, and are signed on behalf of the board by:
Company registration number:
11959284
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WeDo Support Services Limited |
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Notes to the Financial Statements |
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Period from 1 August 2023 to 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suites 3 and 4, First Floor, Annie Kenney Mill, Hudson Street, Oldham, OL9 7FQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments 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. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are 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.
4.
Debtors
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31 Dec 24 |
31 Jul 23 |
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£ |
£ |
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Trade debtors |
2,666,907 |
3,503,896 |
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Other debtors |
32,570 |
42,944 |
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2,699,477 |
3,546,840 |
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----------- |
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5.
Creditors:
amounts falling due within one year
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31 Dec 24 |
31 Jul 23 |
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£ |
£ |
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Trade creditors |
40,287 |
61,927 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
2,582,342 |
3,466,735 |
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Other creditors |
12,857 |
41,937 |
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2,635,486 |
3,570,599 |
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6.
Called up share capital
Issued, called up and fully paid
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31 Dec 24 |
31 Jul 23 |
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No. |
£ |
No. |
£ |
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Ordinary shares of £ 1 each |
1 |
1 |
1 |
1 |
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7.
Summary audit opinion
The auditor's report dated
29 August 2025
was
unqualified
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The senior statutory auditor was
Julie Curtis FCA
, for and on behalf of
Allen, West and Foster
.
8.
Related party transactions
The company has taken advantage of the exemption to disclose transactions with the parent company and other subsidiaries.
9.
Controlling party
WeDo Support Services Limited
is a subsidiary of WeDo Business Finance Limited (formerly WeDo Business Services Limited) whose registered office is Suites 3 and 4, Annie Kenney Mill, Hudson Street, Oldham, OL9 7FQ. The company is consolidated within the accounts of the parent company which are available from Companies House. The ultimate controlling party is Mark Lindsay, majority shareholder of WeDo Business Finance Limited.