REGISTERED NUMBER: 04710742 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

WEDO TECHNOLOGIES (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Riputapan Singh

REGISTERED OFFICE:

3rd Floor

1 Ashley Road

Altrincham

Cheshire

WA14 2DT

REGISTERED NUMBER:

04710742 (England and Wales)

AUDITORS:

Richardson Swift Audit Ltd

Chartered Accountants

Statutory Auditor

11 Laura Place

Bath

BA2 4BL

CURRENT ASSETS

Debtors

5

726,602

1,218,419

Cash at bank

408,284

142,313

1,134,886

1,360,732

CREDITORS

Amounts falling due within one year

6

1,070,303

1,422,731

NET CURRENT ASSETS/(LIABILITIES)

64,583

(61,999

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,583

(61,999

)

CAPITAL AND RESERVES

Called up share capital

7

1,221

1,221

Share premium

980

980

Retained earnings

62,382

(64,200

)

SHAREHOLDERS' FUNDS

64,583

(61,999

)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Riputapan Singh - Director

1.	STATUTORY INFORMATION

Wedo Technologies (UK) Limited is a private company, limited by shares, registered in England & Wales

The company number is 04710742 and the registered office address is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.

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.

The Company's financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. Management believes, based on the forecasted operating results, that the Company has sufficient capital to fund operations for at least the next twelve months from the date the financial statements were available to be issued. If anticipated operating results that are built into management's forecasts are not achieved, the Company may require additional funds to continue operations or may need to reduce operating expenses, which could be detrimental to the ability of the Company to continue as a going concern. Failure to maintain positive operating cash flows could affect the Company's ability to fund operations and the Company's financial position adversely. The company is dependent on group support, and the parent company, We Do Consulting Sistemas de Informação, S.A has confirmed this support. On this basis the directors are satisfied that the company remains a going concern, and the accounts have been prepared on a going concern basis.

Related party exemption

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.

Significant judgements and estimates

The recognition of contract revenue involves judgement in that the percentage of completion and remaining costs are estimated.

There are no other significant judgements and estimates required of the directors in the preparation of the financial statements.

Turnover

Revenue is recognised to the extent that it is probably 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:

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 can be measured reliably; and

- The costs incurred and the costs to complete the contract can be measured reliably.

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 three years.

Computer software has been fully amortised in the current year.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2024

and 31 December 2024

22,805

AMORTISATION

At 1 January 2024

and 31 December 2024

22,805

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

113,104

530,263

Amounts owed by group undertakings

605,880

676,644

Other debtors

69

1,838

Tax

6,808

-

VAT

741

841

Prepayments and accrued income

-

8,833

726,602

1,218,419

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

702

11,229

Amounts owed to group undertakings

963,052

1,226,642

Social security and other taxes

-

5,289

Other creditors

-

627

Accruals and deferred income

106,549

178,944

1,070,303

1,422,731

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,045

Ordinary

£1

1,045

1,045

1,760

Ordinary B

£0.10

176

176

1,221

1,221

All share rank pari passu.

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

The Report of the Auditors was unqualified.

Catherine Edwards BSc FCA (Senior Statutory Auditor)

for and on behalf of Richardson Swift Audit Ltd

9.	PARENT COMPANY

The immediate parent company is Wedo Consulting - Sistemas De Informacao, S.A.

The results of the company are included in the consolidated financial statements of the immediate parent company.

The ultimate parent entity is Reorganized Mobileum Grandparent, LLC based in the United States.