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Company registration number: 14083565

WRK Digital Ltd

Filleted Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Company Information

Directors

Mr W J Parker

Ms K J Tipping

Mr J A Westwood

Registered office

7 Waterside Court
St. Helens
Merseyside
WA9 1UA

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
WRK Digital Ltd
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WRK Digital Ltd for the year ended 31 May 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of WRK Digital Ltd, as a body, in accordance with the terms of our engagement letter dated 25 June 2022. Our work has been undertaken solely to prepare for your approval the accounts of WRK Digital Ltd and state those matters that we have agreed to state to the Board of Directors of WRK Digital Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en
/technical-activities/technical-resources-search/2009/october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WRK Digital Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that WRK Digital Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of WRK Digital Ltd. You consider that WRK Digital Ltd 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 accounts of WRK Digital Ltd. 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 accounts.

......................................

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

25 September 2024

 

(Registration number: 14083565)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,834

5,667

Tangible assets

5

3,329

2,563

Investments

6

100

-

 

6,263

8,230

Current assets

 

Debtors

7

456,531

75,805

Cash at bank and in hand

 

228,918

294,195

 

685,449

370,000

Creditors: Amounts falling due within one year

8

(397,333)

(103,848)

Net current assets

 

288,116

266,152

Total assets less current liabilities

 

294,379

274,382

Provisions for liabilities

(832)

(689)

Net assets

 

293,547

273,693

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

149,625

149,625

Retained earnings

142,922

123,068

Shareholders' funds

 

293,547

273,693

For the financial year ending 31 May 2024 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.

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 September 2024 and signed on its behalf by:
 

 

(Registration number: 14083565)
Balance Sheet as at 31 May 2024

.........................................
Mr W J Parker
Director

   
     
 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
7 Waterside Court
St. Helens
Merseyside
WA9 1UA
England

The principal place of business is:
The Leeming Building
Ludgate Hill
Leeds
LS2 7HZ

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

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 value added tax, returns, rebates and discounts.

Tax

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.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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

Office equipment

33% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development

33% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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 11 (2023 - 5).

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Website development costs
£

Total
£

Cost or valuation

At 1 June 2023

8,500

8,500

At 31 May 2024

8,500

8,500

Amortisation

At 1 June 2023

2,833

2,833

Amortisation charge

2,833

2,833

At 31 May 2024

5,666

5,666

Carrying amount

At 31 May 2024

2,834

2,834

At 31 May 2023

5,667

5,667

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

3,825

3,825

Additions

3,028

3,028

At 31 May 2024

6,853

6,853

Depreciation

At 1 June 2023

1,262

1,262

Charge for the year

2,262

2,262

At 31 May 2024

3,524

3,524

Carrying amount

At 31 May 2024

3,329

3,329

At 31 May 2023

2,563

2,563

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Investments

2024
£

2023
£

Investments in joint ventures

100

-

Joint ventures

£

Cost

Additions

100

Provision

Carrying amount

At 31 May 2024

100

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

421,874

67,656

Amounts owed by group undertakings and undertakings in which the company has a participating interest

23,037

-

Other debtors

 

11,620

8,149

 

456,531

75,805

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Corporation tax

52,584

30,722

Other creditors

344,749

73,126

397,333

103,848

Other creditors includes £268,069 (2023 £NIL) in respect of a debt factoring arrangement. Advances under invoice discounting are secured on the related debtors.