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REGISTERED NUMBER: 07524682 (England and Wales)












IWORKS-DESIGN LTD

Unaudited Financial Statements

for the Year Ended 30 April 2024






IWORKS-DESIGN LTD (REGISTERED NUMBER: 07524682)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IWORKS-DESIGN LTD

Company Information
for the Year Ended 30 April 2024







DIRECTOR: D C Goodall





REGISTERED OFFICE: 15 Haspalls Road
Swaffham
Norfolk
PE37 7PD





REGISTERED NUMBER: 07524682 (England and Wales)





ACCOUNTANTS: The Bailey Partnership
Chartered Accountants
The Old Mill, Kings Mill
Kings Mill Lane
South Nutfield
Surrey
RH1 5NB

IWORKS-DESIGN LTD (REGISTERED NUMBER: 07524682)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,524 29,490

CURRENT ASSETS
Stocks 5 43,572 43,572
Debtors 6 350 -
Cash at bank 5 5
43,927 43,577
CREDITORS
Amounts falling due within one year 7 104,702 93,186
NET CURRENT LIABILITIES (60,775 ) (49,609 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(37,251

)

(20,119

)

CAPITAL AND RESERVES
Called up share capital 9 132 132
Retained earnings 10 (37,383 ) (20,251 )
SHAREHOLDERS' FUNDS (37,251 ) (20,119 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2024 and were signed by:





D C Goodall - Director


IWORKS-DESIGN LTD (REGISTERED NUMBER: 07524682)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

IWorks-Design Ltd 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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

Fixed assets do not require replacement of parts or the cost of major inspections to be recognised separately.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Holiday pay
No liability is recognised in respect of holiday pay as employees are unable to carry forward holiday into future periods.

IWORKS-DESIGN LTD (REGISTERED NUMBER: 07524682)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 40,946 1,367 11,062 53,375
DEPRECIATION
At 1 May 2023 13,430 751 9,704 23,885
Charge for year 5,503 124 339 5,966
At 30 April 2024 18,933 875 10,043 29,851
NET BOOK VALUE
At 30 April 2024 22,013 492 1,019 23,524
At 30 April 2023 27,516 616 1,358 29,490

5. STOCKS
2024 2023
£    £   
Stocks 43,572 43,572

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 350 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 21,556 23,406
VAT - 2,197
Other creditors 6,592 -
Directors' loan accounts 76,329 66,158
Accrued expenses 225 1,425
104,702 93,186

IWORKS-DESIGN LTD (REGISTERED NUMBER: 07524682)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 988 919
Bank loans 20,568 22,487
21,556 23,406

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
66 Ordinary A £1 66 66
66 Ordinary B £1 66 66
132 132

10. RESERVES
Retained
earnings
£   

At 1 May 2023 (20,251 )
Deficit for the year (17,132 )
At 30 April 2024 (37,383 )