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REGISTERED NUMBER: 03355896 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

WEY TECHNOLOGY LIMITED
WEY TECHNOLOGY LIMITED (REGISTERED NUMBER: 03355896)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

WEY TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017







DIRECTORS: A M Klingler
M J Okle
J C Ballantyne





SECRETARY: J C Ballantyne





REGISTERED OFFICE: City Reach
7th Floor, Suite 3
5 Greenwich View Place
London
E14 9NN





REGISTERED NUMBER: 03355896 (England and Wales)





AUDITORS: Barber & Company (Statutory Auditors)
2 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX
WEY TECHNOLOGY LIMITED (REGISTERED NUMBER: 03355896)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2017

31.12.17 31.12.16
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 89,407 55,360

CURRENT ASSETS
Inventories 5 74,699 87,117
Debtors 6 390,896 96,159
Cash at bank 396,735 746,195
862,330 929,471
CREDITORS
Amounts falling due within one year 7 410,678 289,410
NET CURRENT ASSETS 451,652 640,061
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,059

695,421

PROVISIONS FOR LIABILITIES 9 - 2,183
NET ASSETS 541,059 693,238

CAPITAL AND RESERVES
Called up share capital 10 20,000 20,000
Retained earnings 521,059 673,238
SHAREHOLDERS' FUNDS 541,059 693,238

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 13 February 2018 and were signed on its behalf
by:





J C Ballantyne - Director

WEY TECHNOLOGY LIMITED (REGISTERED NUMBER: 03355896)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

1. STATUTORY INFORMATION

Wey Technology 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue 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.
Leasehold improvements - 25% on cost
Fixtures and fittings - 25% on cost and 25% on reducing balance
Computer and office equipment - 33% on reducing balance and 25% and 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing inventories to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the
operating result.
WEY TECHNOLOGY LIMITED (REGISTERED NUMBER: 03355896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

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.

Long-term contracts
Revenue and expenses pertaining to long-term contracts are recognised in the profit and loss account in
proportion to the stage of completion of the contract. An expected loss on a contract is recognised immediately
in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Computer
Fixtures and
Leasehold and office
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 January 2017 - 48,216 342,734 390,950
Additions 59,553 - 13,315 72,868
At 31 December 2017 59,553 48,216 356,049 463,818
DEPRECIATION
At 1 January 2017 - 43,903 291,687 335,590
Charge for year 6,725 1,891 30,205 38,821
At 31 December 2017 6,725 45,794 321,892 374,411
NET BOOK VALUE
At 31 December 2017 52,828 2,422 34,157 89,407
At 31 December 2016 - 4,313 51,047 55,360

5. INVENTORIES
31.12.17 31.12.16
£    £   
Work-in-progress 25,000 25,000
Equipment for resale and parts for maintenance 49,699 62,117
74,699 87,117
WEY TECHNOLOGY LIMITED (REGISTERED NUMBER: 03355896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.17 31.12.16
£    £   
Trade debtors 283,613 49,258
Other debtors 56,090 6,863
Corporation Tax recoverable 18,614 -
Deferred tax asset 10,686 -
Prepayments and accrued income 21,893 40,038
390,896 96,159

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.17 31.12.16
£    £   
Trade creditors 9,438 7,523
Amounts owed to group undertakings 3,610 -
Corporation Tax - 11,614
Social security and other taxes 41,852 39,679
Other creditors 120 407
Accruals and deferred income 355,658 230,187
410,678 289,410

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.17 31.12.16
£    £   
Within one year 67,686 50,760
Between one and five years 270,744 -
338,430 50,760

9. PROVISIONS FOR LIABILITIES
31.12.16
£   
Deferred Tax 2,183

Deferred
tax
£   
Balance at 1 January 2017 2,183
Reversal of timing differences (4,347 )
Arising on trading losses (8,522 )
Balance at 31 December 2017 (10,686 )
WEY TECHNOLOGY LIMITED (REGISTERED NUMBER: 03355896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.17 31.12.16
value: £    £   
20,000 Ordinary shares 1 20,000 20,000

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Horsley (Senior Statutory Auditor)
for and on behalf of Barber & Company (Statutory Auditors)

12. RELATED PARTY DISCLOSURES

The company's issued share capital is owned by Wey Group AG, a company registered in Switzerland.

The Balance Sheet at 31st December, 2017, includes the following balances with Wey Group AG:

Debtors - Amounts owed by group undertakings - Nil (2016: Nil).
Creditors - Amounts owed to group undertakings - 3,610 (2016: Nil).

During the year under review, transactions with Wey Group AG were as follows:

Costs recharged to Wey Technology AG - £23,001 (2016: £76,952).
Purchases from Wey Technology AG - £70,603 (2016: £296,713).

13. ULTIMATE CONTROLLING PARTY

During the year under review, Wey Technology Ltd was controlled by its parent company Wey Group AG, a
company registered in Switzerland.

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