REGISTERED NUMBER: SC231494 (Scotland)

WE FRAME IT LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

N P Hill

H Anderson

SECRETARY:

E Scott

REGISTERED OFFICE:

39 Tomnahurich Street

Inverness

IV3 5DU

REGISTERED NUMBER:

SC231494 (Scotland)

ACCOUNTANTS:

russell + russell

Chartered Certified Accountants

4 Royal Crescent

Glasgow

G3 7SL

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 We Frame It Ltd. for the year ended 30th September 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of We Frame It 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 We Frame It Ltd. and state those matters that we have agreed to state to the Board of Directors of We Frame It Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that We Frame It 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 We Frame It Ltd.. You consider that We Frame It 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 We Frame It 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.

russell + russell

Chartered Certified Accountants

4 Royal Crescent

Glasgow

G3 7SL

18th May 2026

FIXED ASSETS

Tangible assets

4

178,952

191,871

CURRENT ASSETS

Stocks

152,452

152,872

Debtors

5

12,008

41,706

Cash at bank and in hand

55,917

48,497

220,377

243,075

CREDITORS

Amounts falling due within one year

6

108,387

93,656

NET CURRENT ASSETS

111,990

149,419

TOTAL ASSETS LESS CURRENT LIABILITIES

290,942

341,290

CREDITORS

Amounts falling due after more than one year

7

(117,345

)

(135,009

)

PROVISIONS FOR LIABILITIES

(5,412

)

(5,938

)

NET ASSETS

168,185

200,343

CAPITAL AND RESERVES

Called up share capital

10

20,000

20,000

Retained earnings

148,185

180,343

SHAREHOLDERS' FUNDS

168,185

200,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th May 2026 and were signed on its behalf by:

N P Hill - Director

1.	STATUTORY INFORMATION

We Frame It Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future.

Turnover

The turnover shown in the profit and loss account represents the sales value of work done and goods sold during the year, exclusive of Value Added Tax.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

1% straight line

Plant and machinery

-

25% straight line

Equipment

-

20% straight line

Motor vehicles

-

20% straight line

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

Equipment

vehicles

Totals

£

£

£

£

£

COST

At 1st October 2024

165,000

79,999

13,452

34,385

292,836

Disposals

-

(22,607

)

(9,559

)

-

(32,166

)

At 30th September 2025

165,000

57,392

3,893

34,385

260,670

DEPRECIATION

At 1st October 2024

12,859

70,202

12,746

5,158

100,965

Charge for year

1,650

4,018

348

6,877

12,893

Eliminated on disposal

-

(22,607

)

(9,533

)

-

(32,140

)

At 30th September 2025

14,509

51,613

3,561

12,035

81,718

NET BOOK VALUE

At 30th September 2025

150,491

5,779

332

22,350

178,952

At 30th September 2024

152,141

9,797

706

29,227

191,871

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st October 2024

and 30th September 2025

34,385

DEPRECIATION

At 1st October 2024

5,158

Charge for year

6,877

At 30th September 2025

12,035

NET BOOK VALUE

At 30th September 2025

22,350

At 30th September 2024

29,227

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade debtors

7,324

6,788

Other debtors

4,684

34,918

12,008

41,706

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Bank loans and overdrafts (see note 8)

11,151

14,107

Hire purchase contracts

6,512

5,491

Trade creditors

32,900

24,183

Taxation and social security

35,164

27,130

Other creditors

22,660

22,745

108,387

93,656

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.25

30.9.24

£

£

Bank loans (see note 8)

91,739

102,891

Hire purchase contracts

25,606

32,118

117,345

135,009

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

71,031

76,924

8.

LOANS

An analysis of the maturity of loans is given below:

30.9.25

30.9.24

£

£

Amounts falling due within one year or on demand:

Bank loans

4,117

3,777

Bounce back loan

7,034

10,330

11,151

14,107

Amounts falling due between one and two years:

Bank loans - 1-2 years

4,503

4,117

Bounce back loan 1-2 years

-

7,034

4,503

11,151

Amounts falling due between two and five years:

Bank loans - 2-5 years

16,205

14,816

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

71,031

76,924

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.25

30.9.24

£

£

Bank loans

95,856

116,998

Hire purchase contracts

32,118

37,609

127,974

154,607

The hire purchase contracts are secured against the assets to which they relate.

There is a bond and floating charge over the assets of the company, as well as a standard security over the property, in favour of the Royal Bank of Scotland.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.25

30.9.24

value:

£

£

20,000

Ordinary A

£1

20,000

20,000

11.	OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £4,459 (2024: £24,060).

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th September 2025 and 30th September 2024:

30.9.25

30.9.24

£

£

N P Hill

Balance outstanding at start of year

30,627

-

Amounts advanced

26,106

30,627

Amounts repaid

(58,949

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,216

)

30,627

This amount bears no interest and has no fixed repayment terms.

13.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr N P Hill throughout the current and previous year.