WEARSMART LIMITED

WEARSMART LIMITED
Contents Page
For the year ended 28 February 2026

Accountants' Report	1
Statement of Financial Position	2
Notes to the Financial Statements	3

WEARSMART LIMITED Accountants' Report For the year ended 28 February 2026
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of WEARSMART LIMITED for the year ended 28 February 2026. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WEARSMART LIMITED for the year ended 28 February 2026 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance. This report is made solely to the Board of Directors of WEARSMART LIMITED , as a body, in accordance with the terms of our engagement letter dated 02 November 2026. Our work has been undertaken solely to prepare for your approval the accounts of WEARSMART LIMITED and state those matters that we have agreed to state to the Board of Directors of WEARSMART LIMITED , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WEARSMART LIMITED and its Board of Directors as a body for our work or for this report. It is your duty to ensure that WEARSMART LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of WEARSMART LIMITED . You consider that WEARSMART LIMITED 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 accounts of WEARSMART LIMITED . 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 accounts for the year ended 28 February 2026. .................................................... Samir N Pyakuryal Office 10, Suite 1, Fourth Floor, Congress House Lyon Road Harrow HA1 2EN 02 November 2026 1

WEARSMART LIMITED
Accountants' Report
For the year ended 28 February 2026

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of WEARSMART LIMITED for the year ended 28 February 2026.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WEARSMART LIMITED for the year ended 28 February 2026 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of WEARSMART LIMITED , as a body, in accordance with the terms of our engagement letter dated 02 November 2026. Our work has been undertaken solely to prepare for your approval the accounts of WEARSMART LIMITED and state those matters that we have agreed to state to the Board of Directors of WEARSMART LIMITED , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WEARSMART LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that WEARSMART LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of WEARSMART LIMITED . You consider that WEARSMART LIMITED 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 accounts of WEARSMART LIMITED . 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 accounts for the year ended 28 February 2026.

....................................................
Samir N Pyakuryal
Office 10, Suite 1, Fourth Floor, Congress House
Lyon Road
Harrow
HA1 2EN
02 November 2026

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WEARSMART LIMITED
Statement of Financial Position
As at 28 February 2026

	Notes	2026 £	2025 £
Fixed assets
Tangible fixed assets	3	1,101,342	1,101,567
		1,101,342	1,101,567
Current assets
Debtors		61,495	65,587
Cash at bank and in hand		32,262	25,075
		93,757	90,662
Creditors: amount falling due within one year		(47,785)	(53,184)
Net current assets		45,972	37,478

Total assets less current liabilities		1,147,314	1,139,045
Creditors: amount falling due after more than one year		(73,450)	(92,440)
Provisions for liabilities		(215,491)	(215,521)
Net assets		858,373	831,084

Capital and reserves
Called up share capital	4	1,000	1,000
Revaluation Reserves		860,892	860,892
Profit and loss account		(3,519)	(30,808)
Shareholders' funds		858,373	831,084

For the year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the director on 02 November 2026 and were signed by:

-------------------------------
Chandravadan Nanji Vaghela
Director

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WEARSMART LIMITED
Notes to the Abridged Financial Statements
For the year ended 28 February 2026

General Information

WEARSMART LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02416253, registration address Office 10, Suite 1, Fourth Floor, Congress House Lyon Road, Harrow, MIDDLESEX, HA1 2EN.

The presentation currency is £ sterling.

1.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Turnover

Turnover comprises the invoiced value of agreed rent. The rent is recognized on monthly basis as soon as tenants compete their period of stay for that particular month.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery	25% Straight Line
Fixtures and Fittings	15% Reducing Balance

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the period was 0 (2025 : 0).

3.

Tangible fixed assets

Cost or valuation	Land and Buildings	Plant and Machinery	Fixtures and Fittings	Total
	£	£	£	£
At 01 March 2025	1,100,000	335	29,073	1,129,408
Additions	-	-	-	-
Disposals	-	-	-	-
At 28 February 2026	1,100,000	335	29,073	1,129,408
Depreciation
At 01 March 2025	-	35	27,806	27,841
Charge for year	-	35	190	225
On disposals	-	-	-	-
At 28 February 2026	-	70	27,996	28,066
Net book values
Closing balance as at 28 February 2026	1,100,000	265	1,077	1,101,342
Opening balance as at 01 March 2025	1,100,000	300	1,267	1,101,567

Investment Property

As per the directors of the company, there is no material increase in the market value of the Investment property as on 28th February 2026 compared to year ended 29th February 2025. The historical costs of the property was £239,108.00.

4.

Share Capital

Allotted, called up and fully paid	2026 £		2025 £
1,000 Class A shares of £1.00 each	1,000		1,000
	1,000		1,000

5.

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)				Balance owed by/(owed to)
	2026 £		2025 £		2026 £		2025 £
Mr. Chandravadan Nanji Vaghela	0		0		(11,926)		(18,420)

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