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Registered Number: 06899828
England and Wales

 

 

 

NEEDWANT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Mr Sean Luke Brosnan
Registered Number 06899828
Registered Office 54 BRASSEY ROAD
WINCHESTER
ENGLAND
SO22 6SB
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
Secretary Mrs Caroline Brosnan
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 March 2024
Principal activities
The company's principal activity continues to be that of other manufacturing not elsewhere classified
Director
The director who served the company throughout the year was as follows:
Mr Sean Luke Brosnan
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Mr Sean Luke Brosnan
Director

Date approved: 06 August 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 March 2024



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
06 August 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 4,962    4,161 
4,962    4,161 
Current assets      
Debtors 4 17,624    53,603 
Cash at bank and in hand 169,987    94,075 
187,611    147,678 
Creditors: amount falling due within one year 5 (58,261)   (47,403)
Net current assets 129,350    100,275 
 
Total assets less current liabilities 134,312    104,436 
Provisions for liabilities 6   (791)
Net assets 134,312    103,645 
 

Capital and reserves
     
Called up share capital 7 1    1 
Profit and loss account 134,311    103,644 
Shareholders' funds 134,312    103,645 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 06 August 2024 and were signed by:


-------------------------------
Mr Sean Luke Brosnan
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2022 1  94,844  94,845 
Profit for the year 50,800  50,800 
Total comprehensive income for the year 50,800  50,800 
Dividends (42,000) (42,000)
Total investments by and distributions to owners (42,000) (42,000)
At 31 March 2023 1  103,644  103,645 
At 01 April 2023 1  103,644  103,645 
Profit for the year 59,167  59,167 
Total comprehensive income for the year 59,167  59,167 
Dividends (28,500) (28,500)
Total investments by and distributions to owners (28,500) (28,500)
At 31 March 2024 1  134,311  134,312 
5
General Information
NEEDWANT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06899828, registration address 54 BRASSEY ROAD, WINCHESTER , ENGLAND, SO22 6SB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2023 1,141    5,821    10,481    17,443 
Additions     1,924    1,924 
Disposals      
At 31 March 2024 1,141    5,821    12,405    19,367 
Depreciation
At 01 April 2023 532    3,889    8,861    13,282 
Charge for year 152    387    584    1,123 
On disposals      
At 31 March 2024 684    4,276    9,445    14,405 
Net book values
Closing balance as at 31 March 2024 457    1,545    2,960    4,962 
Opening balance as at 01 April 2023 609    1,932    1,620    4,161 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 17,624    51,829 
Prepayments & Accrued Income   1,774 
17,624    53,603 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 17,076    12,037 
Corporation Tax 26,651    11,959 
Pensions Payable 603    (21)
Accrued Expenses 750    750 
Other Creditors (485)   4,165 
Directors' Current Accounts 2,215    1,485 
VAT 11,451    17,028 
58,261    47,403 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax   791 
  791 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary A share of £1.00 each  
1 Ordinary B share of £1.00 each  
 

6