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COMPANY REGISTRATION NUMBER: 05217707
CHARACTER AT WORK LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2023
CHARACTER AT WORK LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
CHARACTER AT WORK LIMITED
BALANCE SHEET
31 August 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
2,630
3,590
Current assets
Debtors
6
286
43,458
Cash at bank and in hand
1,022,407
1,085,501
------------
------------
1,022,693
1,128,959
Creditors: amounts falling due within one year
7
( 274,507)
( 388,598)
------------
------------
Net current assets
748,186
740,361
------------
------------
Total assets less current liabilities
750,816
743,951
------------
------------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
750,716
743,851
------------
------------
Shareholders funds
750,816
743,951
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 April 2024 , and are signed on behalf of the board by:
A Gelain
Director
Company registration number: 05217707
CHARACTER AT WORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Banks Avenue, Golcar, Huddersfield, HD7 4LZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
15% reducing balance
Computer equipment
-
33% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. Tangible assets
Office equipment
Computer equipment
Total
£
£
£
Cost
At 1 September 2022 and 31 August 2023
8,127
6,217
14,344
------------
------------
------------
Depreciation
At 1 September 2022
5,382
5,372
10,754
Charge for the year
412
548
960
------------
------------
------------
At 31 August 2023
5,794
5,920
11,714
------------
------------
------------
Carrying amount
At 31 August 2023
2,333
297
2,630
------------
------------
------------
At 31 August 2022
2,745
845
3,590
------------
------------
------------
6. Debtors
2023
2022
£
£
Trade debtors
42,841
Other debtors
286
617
------------
------------
286
43,458
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
218,570
218,571
Corporation tax
47,264
152,066
Social security and other taxes
8
Director loan accounts
8,673
17,953
------------
------------
274,507
388,598
------------
------------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
9. Related party transactions
The director's loan of £8,673 (2022: £17,953) set out above is unsecured, repayable on demand and currently interest free. The company is controlled by the directors.