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REGISTERED NUMBER: 09271535 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

WECAN SOLUTIONS LIMITED

WECAN SOLUTIONS LIMITED (REGISTERED NUMBER: 09271535)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019




Page

Balance Sheet 1

Notes to the Financial Statements 3


WECAN SOLUTIONS LIMITED (REGISTERED NUMBER: 09271535)

BALANCE SHEET
31 OCTOBER 2019

31.10.19 31.10.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 409,657 766,632

CURRENT ASSETS
Stocks 52,777 92,929
Debtors 5 346,007 855,835
Cash at bank and in hand 32,413 3,828
431,197 952,592
CREDITORS
Amounts falling due within one year 6 654,312 934,404
NET CURRENT (LIABILITIES)/ASSETS (223,115 ) 18,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,542

784,820

CREDITORS
Amounts falling due after more than one
year

7

(424,682

)

(658,057

)

PROVISIONS FOR LIABILITIES (85,563 ) (84,697 )
NET (LIABILITIES)/ASSETS (323,703 ) 42,066

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (323,803 ) 41,966
(323,703 ) 42,066

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

WECAN SOLUTIONS LIMITED (REGISTERED NUMBER: 09271535)

BALANCE SHEET - continued
31 OCTOBER 2019


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 29 October 2020 and were signed by:





A G Hughes - Director


WECAN SOLUTIONS LIMITED (REGISTERED NUMBER: 09271535)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019

1. STATUTORY INFORMATION

WeCan Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09271535

Registered office: Unit 22b Beech Trading Estate
Hereford
Herefordshire
HR4 9QJ

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

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

WECAN SOLUTIONS LIMITED (REGISTERED NUMBER: 09271535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2019

2. ACCOUNTING POLICIES - continued

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 19 (2018 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2018 948,442 392 95,154 1,043,988
Disposals (263,476 ) - (4,416 ) (267,892 )
At 31 October 2019 684,966 392 90,738 776,096
DEPRECIATION
At 1 November 2018 237,076 8 40,272 277,356
Charge for year 133,549 96 12,617 146,262
Eliminated on disposal (57,179 ) - - (57,179 )
At 31 October 2019 313,446 104 52,889 366,439
NET BOOK VALUE
At 31 October 2019 371,520 288 37,849 409,657
At 31 October 2018 711,366 384 54,882 766,632

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.19 31.10.18
£    £   
Trade debtors 130,935 348,164
Other debtors 215,072 507,671
346,007 855,835

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.19 31.10.18
£    £   
Bank loans and overdrafts 11,981 56,115
Hire purchase contracts 128,630 109,642
Trade creditors 258,075 581,703
Taxation and social security 91,882 49,021
Other creditors 163,744 137,923
654,312 934,404

WECAN SOLUTIONS LIMITED (REGISTERED NUMBER: 09271535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2019

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.19 31.10.18
£    £   
Bank loans 50,687 63,981
Hire purchase contracts 373,995 594,076
424,682 658,057

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A G Hughes.