We Make Websites Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07033289 (England and Wales)

Unaudited Financial Statements

for the Period 1 October 2018 to 31 December 2019

for

We Make Websites Ltd

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

A O'Byrne

P J G Thorogood

Registered office:

Sweeps Building

6-7 St. Cross Street

London

EC1N 8UA

Registered number:

07033289 (England and Wales)

Accountants:

Square Mile Accounting Limited

Telephone House

69-77 Paul St

London

EC2A 4NW

Fixed assets

Tangible assets

4

29,352

20,795

Investments

5

80

77

29,432

20,872

Current assets

Debtors

6

516,606

401,168

Cash at bank

696,748

584,791

1,213,354

985,959

Creditors

Amounts falling due within one year

7

330,202

379,148

Net current assets

883,152

606,811

Total assets less current liabilities

912,584

627,683

Capital and reserves

Called up share capital

100

100

Retained earnings

912,484

627,583

Shareholders' funds

912,584

627,683

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 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 5 August 2020 and were signed on its behalf by:

P J G Thorogood - Director

1.	Statutory information

We Make Websites Ltd 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.

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.

Computer equipment

-

25% straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Hire purchase and leasing commitments

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.

Going concern

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to

manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate

resources to continue in operational existence for the foreseeable future, and have taken advantage of all of the government

help available where applicable. Thus they continue to adopt the going concern basis of accounting in preparing the financial

statements.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company’s liability for current tax is calculated using

tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all

timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax

bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each

reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow

all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to

apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted

or substantively enacted by the end of the reporting period.

3.	Employees and directors

The average number of employees during the period was 49 (2018 - 44 ) .

4.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 October 2018

28,529

Additions

30,975

Disposals

(15,140

)

At 31 December 2019

44,364

Depreciation

At 1 October 2018

7,734

Charge for period

13,156

Eliminated on disposal

(5,878

)

At 31 December 2019

15,012

Net book value

At 31 December 2019

29,352

At 30 September 2018

20,795

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 October 2018

77

Additions

3

At 31 December 2019

80

Net book value

At 31 December 2019

80

At 30 September 2018

77

6.

Debtors: amounts falling due within one year

31.12.19

30.9.18

£

£

Trade debtors

156,017

351,244

Amounts owed by group undertakings

303,235

29,224

Other debtors

20,856

20,700

Accrued income

1,282

-

Prepayments

35,216

-

516,606

401,168

7.

Creditors: amounts falling due within one year

31.12.19

30.9.18

£

£

Bank loans and overdrafts

5,344

-

Trade creditors

42,337

117,683

Tax

12,740

82,730

Social security and other taxes

56,368

72,928

VAT

80,688

74,540

Other creditors

12,428

12,278

Directors' current accounts

6,238

4,500

Deferred income

112,270

-

Accrued expenses

1,789

14,489

330,202

379,148

8.	Related party disclosures

As at the yearend, a balance of £6,237.78 was owed to the director A O’Byrne. The loan is repayable on demand and is interest

free.

9.	Ultimate controlling party

The company is controlled by the directors who own 100% of the called up share capital.

10.	Subsequent events

Subsequent to the year end, the World Health Organisation declared a Public health Emergency of International Concern

relating to the Covid-19. Given the emergence and spread of Covid-19 occurred in 2020, it is not considered relevant to

conditions that existed at the balance sheet date. Consequently, Covid-19 is considered to be a non-adjusting post balance

sheet event. The measurement of assets and liabilities in the accounts has not been adjusted for its potential impact. Whilst the

situation is evolving, it is too early to fully determine implications on the macro economic environment in which the portfolio

companies operate and any impact is therefore considered to be a non-adjusting post balance sheet event. The Directors have

considered the risks associated with the outbreak and does not believe there is or will be a material impact on the Company or

the company as a whole.