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Registration number: 12691400

Word On The Street Construction Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Word On The Street Construction Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Word On The Street Construction Ltd

Company Information

Directors

Miss Jasmine Louisa Ough

Mr Michael Paul Street

Registered office

2 Highmead Street
Manchester
M18 8PJ

Accountants

The Moffatts Partnership LLP
Suite 1.1, First Floor
Jackson House
Sibson Road
Sale
M33 7RR

 

Word On The Street Construction Ltd

(Registration number: 12691400)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

8,790

Current assets

 

Debtors

5

2,115

3,204

Cash at bank and in hand

 

3,256

15,992

 

5,371

19,196

Creditors: Amounts falling due within one year

6

(20,832)

(25,144)

Net current liabilities

 

(15,461)

(5,948)

Total assets less current liabilities

 

(15,461)

2,842

Provisions for liabilities

-

(1,670)

Net (liabilities)/assets

 

(15,461)

1,172

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(15,462)

1,171

Shareholders' (deficit)/funds

 

(15,461)

1,172

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Word On The Street Construction Ltd

(Registration number: 12691400)
Balance Sheet as at 30 June 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 

.........................................
Mr Michael Paul Street
Director

   
     
 

Word On The Street Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Highmead Street
Manchester
M18 8PJ

These financial statements were authorised for issue by the Board on 25 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

 

Word On The Street Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing Balance Basis

Motor vehicles

25% Reducing Balance Basis

Office equipment

25% Reducing Balance Basis

Computer equipment

25% Reducing Balance Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Word On The Street Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

11,219

3,000

14,219

Additions

367

-

367

Disposals

(11,586)

(3,000)

(14,586)

At 30 June 2023

-

-

-

 

Word On The Street Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Depreciation

At 1 July 2022

4,398

1,031

5,429

Charge for the year

1,482

369

1,851

Eliminated on disposal

(5,880)

(1,400)

(7,280)

At 30 June 2023

-

-

-

Carrying amount

At 30 June 2023

-

-

-

At 30 June 2022

6,821

1,969

8,790

5

Debtors

Note

2023
£

2022
£

Other debtors

 

30

2,856

Prepayments

 

148

348

Income tax asset

1,937

-

 

2,115

3,204

 

Word On The Street Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

2023
£

2022
£

Due within one year

Trade creditors

-

3,122

Taxation and social security

-

1,257

Accruals and deferred income

-

630

Other creditors

20,832

20,135

20,832

25,144

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share class 1 of £1 each

1

1

1

1

         

8

Parent and ultimate parent undertaking

On the 4th August 2021, 100% of the shares in Word on the Street Construction Limited were acquired by Word on the Street Group Limited.

 The company's immediate parent is Word on the Street Group Limited, incorporated in England & Wales.

 The most senior parent entity producing publicly available financial statements is Word on the Street Group Limited (Company 13546084) . These financial statements are available upon request from Companies House.