Registered number
06360359
WORK WORK LIMITED
Filleted Accounts
31 December 2022
WORK WORK LIMITED
Registered number: 06360359
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 1 5,222
Tangible assets 3 2,258 2,823
Current assets
Stocks 153,108 140,540
Debtors 4 932,801 480,911
Cash at bank and in hand 90,197 261,625
1,176,106 883,076
Creditors: amounts falling due within one year 5 (385,992) (163,944)
Net current assets 790,114 719,132
Net assets 792,373 727,177
Capital and reserves
Called up share capital 100 100
Profit and loss account 792,273 727,077
Shareholders' funds 792,373 727,177
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Bipin Jha and Mr Muhammad Fiaz
Director Director
Approved by the board on 29 September 2023
WORK WORK LIMITED
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 10 8
3 Intangible fixed assets £
Cost
At 1 January 2022 26,106
At 31 December 2022 26,106
Amortisation
At 1 January 2022 20,884
Provided during the year 5,221
At 31 December 2022 26,105
Net book value
At 31 December 2022 1
At 31 December 2021 5,222
Intangible fixed assets is being written off in equal annual instalments over its estimated economic life of 5 years.
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 14,729
At 31 December 2022 14,729
Depreciation
At 1 January 2022 11,906
Charge for the year 565
At 31 December 2022 12,471
Net book value
At 31 December 2022 2,258
At 31 December 2021 2,823
4 Debtors 2022 2021
£ £
Trade debtors 237,040 182,548
Accrued income 430,713 54,696
Deferred tax asset 4 4
Director loan account 186,623 189,750
Other debtors 78,421 53,913
932,801 480,911
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank, other loans and Invoice finance - 9,964
Trade creditors 251,555 77,693
Corporation tax 83,447 67,794
Other taxes and social security costs 25,483 -
Other creditors 25,507 8,493
385,992 163,944
6 Controlling party
Directors are the ultimate controlling parties.
7 Other information
WORK WORK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Comer Business & Innovations Centres
Oakleigh Road South
London
England
N11 1GN
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