IRIS Accounts Production v24.2.0.383 08431816 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084318162023-03-31084318162024-03-31084318162023-04-012024-03-31084318162022-03-31084318162022-04-012023-03-31084318162023-03-3108431816ns15:EnglandWales2023-04-012024-03-3108431816ns14:PoundSterling2023-04-012024-03-3108431816ns10:Director12023-04-012024-03-3108431816ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108431816ns10:SmallEntities2023-04-012024-03-3108431816ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3108431816ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108431816ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108431816ns10:FullAccounts2023-04-012024-03-3108431816ns10:Director22023-04-012024-03-3108431816ns10:RegisteredOffice2023-04-012024-03-3108431816ns5:CurrentFinancialInstruments2024-03-3108431816ns5:CurrentFinancialInstruments2023-03-3108431816ns5:Non-currentFinancialInstruments2024-03-3108431816ns5:Non-currentFinancialInstruments2023-03-3108431816ns5:ShareCapital2024-03-3108431816ns5:ShareCapital2023-03-3108431816ns5:CapitalRedemptionReserve2024-03-3108431816ns5:CapitalRedemptionReserve2023-03-3108431816ns5:RetainedEarningsAccumulatedLosses2024-03-3108431816ns5:RetainedEarningsAccumulatedLosses2023-03-3108431816ns5:PlantMachinery2023-04-012024-03-3108431816ns5:LandBuildings2023-03-3108431816ns5:PlantMachinery2023-03-3108431816ns5:LandBuildings2023-04-012024-03-3108431816ns5:LandBuildings2024-03-3108431816ns5:PlantMachinery2024-03-3108431816ns5:LandBuildings2023-03-3108431816ns5:PlantMachinery2023-03-3108431816ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108431816ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108431816ns5:WithinOneYear2024-03-3108431816ns5:WithinOneYear2023-03-3108431816ns5:BetweenOneFiveYears2024-03-3108431816ns5:BetweenOneFiveYears2023-03-3108431816ns5:AllPeriods2024-03-3108431816ns5:AllPeriods2023-03-31
REGISTERED NUMBER: 08431816 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

setWorks Limited

setWorks Limited (Registered number: 08431816)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

setWorks Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr T I Meaker
Mr A J Turnbull





REGISTERED OFFICE: The Works
Unit 10 James Busines Park
Mill Lane
Croydon
Surrey
CR0 4AA





REGISTERED NUMBER: 08431816 (England and Wales)





ACCOUNTANTS: Indigo Tax and Accountancy Limited
The Barn
Brighton Road
Lower Beeding
Horsham
West Sussex
RH13 6PT

setWorks Limited (Registered number: 08431816)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,632 76,179

CURRENT ASSETS
Debtors 5 273,806 730,962
Prepayments and accrued income 49,635 -
Cash in hand 457,055 557,266
780,496 1,288,228
CREDITORS
Amounts falling due within one year 6 305,010 653,699
NET CURRENT ASSETS 475,486 634,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

560,118

710,708

CREDITORS
Amounts falling due after more than one year 7 (18,333 ) (28,334 )

PROVISIONS FOR LIABILITIES (13,568 ) (14,474 )
NET ASSETS 528,217 667,900

CAPITAL AND RESERVES
Called up share capital 200 200
Capital redemption reserve 100 100
Retained earnings 527,917 667,600
528,217 667,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

setWorks Limited (Registered number: 08431816)

Balance Sheet - continued
31 March 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





Mr A J Turnbull - Director


setWorks Limited (Registered number: 08431816)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

setWorks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - straight line over 4 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 10 ) .

setWorks Limited (Registered number: 08431816)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 - 347,205 347,205
Additions 13,679 42,675 56,354
Disposals - (11,500 ) (11,500 )
At 31 March 2024 13,679 378,380 392,059
DEPRECIATION
At 1 April 2023 - 271,026 271,026
Charge for year 456 38,820 39,276
Eliminated on disposal - (2,875 ) (2,875 )
At 31 March 2024 456 306,971 307,427
NET BOOK VALUE
At 31 March 2024 13,223 71,409 84,632
At 31 March 2023 - 76,179 76,179

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 225,780 726,186
Other debtors 48,026 4,776
273,806 730,962

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 196,447 448,018
Taxation and social security 93,988 194,268
Other creditors 4,575 1,413
305,010 653,699

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 18,333 28,334

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 6,395 6,395
Between one and five years 9,322 15,717
15,717 22,112

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
setWorks Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of setWorks Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of setWorks Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of setWorks Limited and state those matters that we have agreed to state to the Board of Directors of setWorks Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than setWorks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that setWorks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of setWorks Limited. You consider that setWorks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of setWorks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Indigo Tax and Accountancy Limited
The Barn
Brighton Road
Lower Beeding
Horsham
West Sussex
RH13 6PT


13 August 2024