We Lead Media Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06953280 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2019

for

We Lead Media Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J S Cothill

REGISTERED OFFICE:

Kemp House

152 City Road

London

EC1V 2NX

REGISTERED NUMBER:

06953280 (England and Wales)

ACCOUNTANTS:

Finnies Accountants Limited

Chartered Certified Accountants

4-6 Swaby's Yard

Walkergate

Beverley

East Yorkshire

HU17 9BZ

FIXED ASSETS

Tangible assets

4

32

37

CURRENT ASSETS

Debtors

5

512

578

Cash at bank

175

3

687

581

CREDITORS

Amounts falling due within one year

6

(6,584

)

(5,698

)

NET CURRENT LIABILITIES

(5,897

)

(5,117

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,865

)

(5,080

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(6,865

)

(6,080

)

SHAREHOLDERS' FUNDS

(5,865

)

(5,080

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 15 April 2020 and were signed by:

J S Cothill - Director

1.	STATUTORY INFORMATION

We Lead Media Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

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.

With the advent of the COVID-19 pandemic we are in uncertain times and the directors are mindful of the

impact on the future trading prospects for the company as it complies with the safety measures and emergency

legislation recently announced by the United Kingdom Government.

Clearly this will have an impact on the future viability of the company. We have therefore updated our trading

predictions based on the anticipated impact of a reduction in trade, whilst also having access to support

currently being offered by the United Kingdom Government. We believe that our assumptions are realistic

based on evidence currently available, and that the company will consequently have enough headroom within

its liquid capital to continue for the foreseeable future.

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 each asset over its estimated useful life.

Fixtures and fittings

-

15% pa on written down value

Computer equipment

-

33% pa on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2018

and 31 July 2019

153

1,490

1,643

DEPRECIATION

At 1 August 2018

117

1,489

1,606

Charge for year

5

-

5

At 31 July 2019

122

1,489

1,611

NET BOOK VALUE

At 31 July 2019

31

1

32

At 31 July 2018

36

1

37

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

512

578

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Directors' current accounts

6,221

5,265

Accrued expenses

363

433

6,584

5,698

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2019 and

31 July 2018:

2019

2018

£

£

J S Cothill

Balance outstanding at start of year

(5,264

)

(3,903

)

Amounts repaid

(956

)

(1,361

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(6,220

)

(5,264

)

8.	RELATED PARTY DISCLOSURES

The Director has provided the company a loan, this loan is unsecured, interest free and repayable upon

demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J S Cothill.