Registered number
06993325
Workwithlight Limited
Filleted Accounts
31 October 2023
Workwithlight Limited
Registered number: 06993325
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,982 15,136
Current assets
Debtors 4 17,228 18,211
Cash at bank and in hand 18,145 10,444
35,373 28,655
Creditors: amounts falling due within one year 5 (23,383) (14,836)
Net current assets 11,990 13,819
Total assets less current liabilities 28,972 28,955
Creditors: amounts falling due after more than one year 6 (8,232) (17,967)
Net assets 20,740 10,988
Capital and reserves
Called up share capital 2 2
Profit and loss account 20,738 10,986
Shareholders' funds 20,740 10,988
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 J Evans
Director
Approved by the board on 22 March 2024
Workwithlight Limited
Notes to the Accounts
for the year ended 31 October 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 rendering of services. 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.
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:
Computer equipment over 5 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 18% reducing balance
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer equipment Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 37,938 4,661 42,599
Additions 4,932 2,498 7,430
At 31 October 2023 42,870 7,159 50,029
Depreciation
At 1 November 2022 26,532 931 27,463
Charge for the year 5,085 499 5,584
At 31 October 2023 31,617 1,430 33,047
Net book value
At 31 October 2023 11,253 5,729 16,982
At 31 October 2022 11,406 3,730 15,136
4 Debtors 2023 2022
£ £
Trade debtors 17,037 17,972
Other debtors 191 239
17,228 18,211
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,030 -
Trade creditors 823 752
Taxation and social security costs 8,661 13,986
Other creditors 8,869 98
23,383 14,836
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 8,232 17,967
7 Related party transactions
Included within other creditors is the amount of £8,869 (2022 - £98) owed to the director. This amount is undated, unsecured, interest free and repayable upon demand.
8 Controlling party
The controlling party is Mr J Evans, as the director and shareholder
9 Other information
Workwithlight Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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