Registered number
06957512
The Word Works (London) Limited
Unaudited Filleted Accounts
31 March 2023
The Word Works (London) Limited
Registered number: 06957512
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 908 1,019
Current assets
Debtors 5 189,038 114,060
Cash at bank and in hand 93,102 211,588
282,140 325,648
Creditors: amounts falling due within one year 6 (60,228) (65,518)
Net current assets 221,912 260,130
Total assets less current liabilities 222,820 261,149
Creditors: amounts falling due after more than one year 7 (120,333) (149,433)
Net assets 102,487 111,716
Capital and reserves
Called up share capital 200 200
Profit and loss account 102,287 111,516
Shareholder's funds 102,487 111,716
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 Timothy Simmons
Director
Approved by the board on 20 November 2023
The Word Works (London) Limited
Notes to the Accounts
for the year ended 31 March 2023
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 10% straight line
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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Development :
Cost
At 1 April 2022 30,000
At 31 March 2023 30,000
Amortisation
At 1 April 2022 30,000
At 31 March 2023 30,000
Net book value
At 31 March 2023 -
Development is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 29,857
At 31 March 2023 29,857
Depreciation
At 1 April 2022 28,838
Charge for the year 111
At 31 March 2023 28,949
Net book value
At 31 March 2023 908
At 31 March 2022 1,019
5 Debtors 2023 2022
£ £
Other debtors 189,038 114,060
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 38,000 31,667
Trade creditors 404 2,708
Taxation and social security costs 18,193 17,312
Other creditors 3,631 13,831
60,228 65,518
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 120,333 149,433
8 Related party transactions 2023 2022
Simmons & Schmid Limited - Parent £ £
A company which shares common director.
As at 31 March 2023, there was an inter company loan which is contained in other debtors.
Amount due from related party 105,477 62,400
9 Other information
The Word Works (London) Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor Nucleus House
2 Lower Mortlake Road
Richmond
Greater London
TW9 2JA
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