Company registration number 11687599 (England and Wales)
WORKS BUILDING GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
WORKS BUILDING GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WORKS BUILDING GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Cash at bank and in hand
20
6,502
Creditors: amounts falling due within one year
4
(11,887)
(9,781)
Net current liabilities
(11,867)
(3,279)
Creditors: amounts falling due after more than one year
5
(34,983)
(39,015)
Net liabilities
(46,850)
(42,294)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(46,950)
(42,394)
Total equity
(46,850)
(42,294)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 12 September 2022
Mr N Rawlings
Director
Company Registration No. 11687599
WORKS BUILDING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information

Works Building Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Whittles, The Old Exchange, 64 West Stockwell Street, Colchester, CO1 1HE. The principal place of business is The Bungalow, Upper Street, Stratford St Mary, Colchester, CO7 6JN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has confirmed that he will continue supporting the company. Therefore the going concern basis of accounting in preparing the financial statements is appropriate.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

 

Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt.

 

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

WORKS BUILDING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
1
1
4
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
3,663
1,185
Other creditors
8,224
8,596
11,887
9,781
WORKS BUILDING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
34,983
39,015
Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
19,548
24,004
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
6,171
9,462
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