2022-08-012023-07-312023-07-31false07750661Trendworks 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Trendworks Limited

Registered Number
07750661
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

Trendworks Limited
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

Elina Kopola

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

07750661 (England and Wales)
Trendworks Limited
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets614,44816,254
Tangible assets71,423556
15,87116,810
Current assets
Debtors10,288718
Cash at bank and on hand47,63422,674
57,92223,392
Creditors amounts falling due within one year9(46,134)(19,913)
Net current assets (liabilities)11,7883,479
Total assets less current liabilities27,65920,289
Creditors amounts falling due after one year10-(5,000)
Provisions for liabilities11(270)(106)
Net assets27,38915,183
Capital and reserves
Called up share capital100100
Profit and loss account27,28915,083
Shareholders' funds27,38915,183
The financial statements were approved and authorised for issue by the Director on 15 November 2023, and are signed on its behalf by:
Elina Kopola
Director
Registered Company No. 07750661
Trendworks Limited
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
Trendworks Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the period under review was that of providing design consultancy services.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Fixtures and fittings 40% straight line Computer equipment 33% straight line
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any impairment losses. Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.
Deferred tax policy
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.
Foreign currency translation and operations policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year11
6.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 August 2236,12036,120
At 31 July 2336,12036,120
Amortisation and impairment
At 01 August 2219,86619,866
Charge for year1,8061,806
At 31 July 2321,67221,672
Net book value
At 31 July 2314,44814,448
At 31 July 2216,25416,254
7.Property, plant and equipment

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 August 226,1984,08910,287
Additions-1,9161,916
At 31 July 236,1986,00512,203
Depreciation and impairment
At 01 August 226,1983,5339,731
Charge for year-1,0491,049
At 31 July 236,1984,58210,780
Net book value
At 31 July 23-1,4231,423
At 31 July 22-556556
8.Debtors within one year

2023

2022

££
Trade debtors / trade receivables10,288-
Other debtors-718
Total10,288718
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.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables7563,024
Amounts owed to related parties9,80010,066
Taxation and social security19,3286,823
Accrued liabilities and deferred income16,250-
Total46,13419,913
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.
10.Creditors after one year

2023

2022

££
Amounts owed to related parties-5,000
Total-5,000
11.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)270106
Total270106