Company Registration No. 07231195 (England and Wales)
Worthweld PT Ltd
Unaudited accounts
for the year ended 30 April 2023
Worthweld PT Ltd
Unaudited accounts
Contents
Worthweld PT Ltd
Company Information
for the year ended 30 April 2023
Company Number
07231195 (England and Wales)
Registered Office
5 Field End
Maresfield
Uckfield
East Sussex
TN22 2DJ
Accountants
Ladbroke Management Services Ltd
5 Field End
Maresfield
East Sussex
TN22 2DJ
Worthweld PT Ltd
Statement of financial position
as at 30 April 2023
Cash at bank and in hand
29,934
39,882
Creditors: amounts falling due within one year
(7,124)
(7,681)
Net current assets
28,930
36,650
Total assets less current liabilities
29,829
38,637
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
29,657
38,258
Shareholders' funds
29,658
38,259
For the year ending 30 April 2023 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 director acknowledges his 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 and authorised for issue on 14 November 2023 and were signed on its behalf by
D C Higgs
Director
Company Registration No. 07231195
Worthweld PT Ltd
Notes to the Accounts
for the year ended 30 April 2023
Worthweld PT Ltd is a private company, limited by shares, registered in England and Wales, registration number 07231195. The registered office is 5 Field End, Maresfield, Uckfield, East Sussex, TN22 2DJ.
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.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, in respect of services provided to clients.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% on the straight line basis
Work-in-progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Worthweld PT Ltd
Notes to the Accounts
for the year ended 30 April 2023
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
6,880
7,552
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Transactions with related parties
The company was under the control of Mr David Higgs who holds 100% of the company shares.
During the year he was paid dividends of £36000 (2022: £28100).
No other transactions required reporting.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).