Registered number
05674471
Work234 Limited
Filleted Accounts
31 January 2024
Work234 Limited
Registered number: 05674471
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 36,185 42,298
Current assets
Debtors 4 36,478 89,525
Creditors: amounts falling due within one year 5 (75,978) (123,421)
Net current liabilities (39,500) (33,896)
Total assets less current liabilities (3,315) 8,402
Creditors: amounts falling due after more than one year 6 (12,238) (12,333)
Net liabilities (15,553) (3,931)
Capital and reserves
Called up share capital 1 1
Profit and loss account (15,554) (3,932)
Shareholder's funds (15,553) (3,931)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michael Clarke
Director
Approved by the board on 31 October 2024
Work234 Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Building improvement over 10 years
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 59,490 16,395 75,885
At 31 January 2024 59,490 16,395 75,885
Depreciation
At 1 February 2023 17,847 15,740 33,587
Charge for the year 5,949 164 6,113
At 31 January 2024 23,796 15,904 39,700
Net book value
At 31 January 2024 35,694 491 36,185
At 31 January 2023 41,643 655 42,298
4 Debtors 2024 2023
£ £
Other debtors 36,478 89,525
Amounts due after more than one year included above 13,814 21,060
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,963 6,447
Trade creditors 2,610 1,230
Taxation and social security costs 62,501 110,901
Other creditors 4,904 4,843
75,978 123,421
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,238 12,333
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Michael Clarke
Loan interest rate 2.25% 66,341 1,614 (54,141) 13,814
66,341 1,614 (54,141) 13,814
8 Other information
Work234 Limited is a private company limited by shares and incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Merseyside
CH44 4BT
Work234 Limited 05674471 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Michael Clarke No description of principal activity 05674471 2022-02-01 2023-01-31 05674471 core:WithinOneYear 2023-01-31 05674471 core:AfterOneYear 2023-01-31 05674471 core:ShareCapital 2023-01-31 05674471 core:RetainedEarningsAccumulatedLosses 2023-01-31 05674471 2023-02-01 2024-01-31 05674471 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05674471 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05674471 bus:Director40 2023-02-01 2024-01-31 05674471 1 2023-02-01 2024-01-31 05674471 2 2023-02-01 2024-01-31 05674471 core:LandBuildings 2023-02-01 2024-01-31 05674471 core:PlantMachinery 2023-02-01 2024-01-31 05674471 bus:Director1 2023-02-01 2024-01-31 05674471 bus:Director1 1 2023-02-01 2024-01-31 05674471 countries:England 2023-02-01 2024-01-31 05674471 bus:FRS102 2023-02-01 2024-01-31 05674471 bus:FilletedAccounts 2023-02-01 2024-01-31 05674471 2024-01-31 05674471 core:WithinOneYear 2024-01-31 05674471 core:AfterOneYear 2024-01-31 05674471 core:ShareCapital 2024-01-31 05674471 core:RetainedEarningsAccumulatedLosses 2024-01-31 05674471 core:LandBuildings 2024-01-31 05674471 core:PlantMachinery 2024-01-31 05674471 bus:Director1 1 2024-01-31 05674471 2023-01-31 05674471 core:LandBuildings 2023-01-31 05674471 core:PlantMachinery 2023-01-31 05674471 bus:Director1 1 2023-01-31 iso4217:GBP xbrli:pure