We Are Percent Ltd

We Are Percent Ltd

WE ARE PERCENT LTD - Company Information

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Company Registration No. 09387321 (England and Wales)
We Are Percent Ltd Unaudited accounts for the year ended 30 April 2020
We Are Percent Ltd Unaudited accounts Contents
Page
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We Are Percent Ltd Company Information for the year ended 30 April 2020
Directors
Stefan Joshua Greer Oliver Edward Lee Henry John Ludlam Mark William Wood William Peter Young
Company Number
09387321 (England and Wales)
Registered Office
Unit 2.05 The Accountancy Cloud 12-18 Hoxton Street London N1 6NG United Kingdom
Accountants
The Accountancy Cloud 12-18 Hoxton Street London N1 6NG UK
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We Are Percent Ltd Statement of financial position as at 30 April 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
1,192 
1,900 
Tangible assets
5
14,011 
6,403 
15,203 
8,303 
Current assets
Debtors
6
115,142 
13,816 
Cash at bank and in hand
848,424 
335,034 
963,566 
348,850 
Creditors: amounts falling due within one year
7
(199,171)
(19,057)
Net current assets
764,395 
329,793 
Total assets less current liabilities
779,598 
338,096 
Creditors: amounts falling due after more than one year
8
(850,000)
- 
Net (liabilities)/assets
(70,402)
338,096 
Capital and reserves
Called up share capital
9
160 
144 
Share premium
2,660,962 
1,549,989 
Capital contribution reserve
- 
71,416 
Profit and loss account
(2,731,524)
(1,283,453)
Shareholders' funds
(70,402)
338,096 
For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2020 and were signed on its behalf by
Stefan Joshua Greer Director Company Registration No. 09387321
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We Are Percent Ltd Notes to the Accounts for the year ended 30 April 2020
1
Statutory information
We Are Percent Ltd is a private company, limited by shares, registered in England and Wales, registration number 09387321. The registered office is Unit 2.05 The Accountancy Cloud, 12-18 Hoxton Street, London, N1 6NG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years
Computer equipment
5 years
Other tangible fixed assets
5 years
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
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We Are Percent Ltd Notes to the Accounts for the year ended 30 April 2020
Share Based Payments
The company operates an EMI qualifying share option scheme for employees. As at the date of the Statement of Financial Position, the company had granted 12,349 EMI qualifying share options with an average exercise price of £6.76 per share. As at the year end 6,983 share options vested and 25 exercised. Share options vest over 5 years from the date of grant. The share options are exercisable on the share capital of the company.
Research and development tax credit
During the financial year, We Are Percent Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Income Statement in line with disclosure requirements under FRS 102.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 May 2019
3,536 
At 30 April 2020
3,536 
Amortisation
At 1 May 2019
1,636 
Charge for the year
708 
At 30 April 2020
2,344 
Net book value
At 30 April 2020
1,192 
At 30 April 2019
1,900 
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2019
1,684 
7,898 
9,582 
Additions
760 
10,098 
10,858 
At 30 April 2020
2,444 
17,996 
20,440 
Depreciation
At 1 May 2019
1,348 
1,831 
3,179 
Charge for the year
434 
2,816 
3,250 
At 30 April 2020
1,782 
4,647 
6,429 
Net book value
At 30 April 2020
662 
13,349 
14,011 
At 30 April 2019
336 
6,067 
6,403 
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We Are Percent Ltd Notes to the Accounts for the year ended 30 April 2020
6
Debtors
2020 
2019 
£ 
£ 
Trade debtors
30,000 
- 
Accrued income and prepayments
8,500 
- 
Other debtors
76,642 
13,816 
115,142 
13,816 
7
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade creditors
71,249 
8,436 
Taxes and social security
67,853 
8,700 
Other creditors
2,277 
1,921 
Loans from directors
659 
- 
Accruals
36,300 
- 
Deferred income
20,833 
- 
199,171 
19,057 
8
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Other creditors
850,000 
- 
9
Share capital
2020 
2019 
£ 
£ 
Allotted, called up and fully paid:
160,317 Ordinary shares of £0.001 each
160.31 
144.37 
Shares issued during the period:
15,946 Ordinary shares of £0.001 each
15.94 
10
Operating lease commitments
2020 
2019 
£ 
£ 
At 30 April 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
136,000 
72,250 
Within two to five years
52,500 
21,250 
188,500 
93,500 
11
Average number of employees
During the year the average number of employees was 14 (2019: 10).
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