Company registration number 07402411 (England and Wales)
AUTISM WORKS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
AUTISM WORKS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
AUTISM WORKS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
442
979
Current assets
Debtors
4
93,198
122,680
Cash at bank and in hand
18,803
12,036
112,001
134,716
Creditors: amounts falling due within one year
5
(101,863)
(72,909)
Net current assets
10,138
61,807
Total assets less current liabilities
10,580
62,786
Provisions for liabilities
(84)
(186)
Net assets
10,496
62,600
Capital and reserves
Called up share capital
7
10
10
Profit and loss reserves
10,486
62,590
Total equity
10,496
62,600

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 31 October 2024 and are signed on its behalf by:
Mr P V Macdonald
Director
Company Registration No. 07402411
AUTISM WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Autism Works Limited is a private company limited by shares incorporated in England and Wales. The registered office is North House, Ferryboat Lane, Sunderland, Tyne & Wear, United Kingdom, SR5 3RL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company's business activities, together with the factors likely to affect its future development and financial position, are set out in the parent company's development plan from April 2023 - March 2025.

 

The company is forecasting within the strategic plan to generate growth and positive cash flows within this two year period. On this basis, the directors of Education and Services for People with Autism Limited have confirmed that they will continue to financially support the company for the foreseeable future.

 

During the year the company maintained their existing contracts with Johnson and Johnson, but the company saw a reduction in sales/productivity due to contracts being placed on hold in the current financial year. As a result revenue was reduced in the year. The Covid-19 restrictions placed on some contracts have resulted in start dates being delayed, the company projections for 2024/2025 are expecting to increase business and generate growth.

In the period since the year end, the company has maintained and secured new contracts from our existing customer for the 2023/24 financial year.

At the time of approving the financial statements, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They are therefore of the opinion that it is appropriate for the financial statements to be prepared on the basis of a going concern.

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

AUTISM WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

AUTISM WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.10

Related party exemption

 

The company has taken advantage of exemption, under the provisions of section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
AUTISM WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2022 and 31 March 2023
2,391
Depreciation and impairment
At 1 April 2022
1,412
Depreciation charged in the year
537
At 31 March 2023
1,949
Carrying amount
At 31 March 2023
442
At 31 March 2022
979
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
79,240
66,854
Corporation tax recoverable
1,295
177
Prepayments and accrued income
12,663
55,649
93,198
122,680
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
89,541
65,005
Taxation and social security
2,307
644
Accruals and deferred income
10,015
7,260
101,863
72,909
6
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
4,017
3,943

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

AUTISM WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10
10
10
10
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Graham Fitzgerald BA FCA DChA
Statutory Auditor:
Azets Audit Services
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
972
6,804
10
Parent company

Autism Works Limited is a wholly owned subsidiary of Education and Services for People with Autism Limited and its registered office is North House, Ferryboat Lane, Sunderland, Tyne & Wear, SR5 3RL.

2023-03-312022-04-01false31 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedMr P V MacdonaldMr P M MoxonMrs L J LaneMr K T Hardyfalsefalse074024112022-04-012023-03-31074024112023-03-31074024112022-03-3107402411core:ComputerEquipment2023-03-3107402411core:ComputerEquipment2022-03-3107402411core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3107402411core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3107402411core:CurrentFinancialInstruments2023-03-3107402411core:CurrentFinancialInstruments2022-03-3107402411core:ShareCapital2023-03-3107402411core:ShareCapital2022-03-3107402411core:RetainedEarningsAccumulatedLosses2023-03-3107402411core:RetainedEarningsAccumulatedLosses2022-03-3107402411bus:Director12022-04-012023-03-3107402411core:ComputerEquipment2022-04-012023-03-31074024112021-04-012022-03-3107402411core:ComputerEquipment2022-03-3107402411bus:PrivateLimitedCompanyLtd2022-04-012023-03-3107402411bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3107402411bus:FRS1022022-04-012023-03-3107402411bus:Audited2022-04-012023-03-3107402411bus:Director22022-04-012023-03-3107402411bus:Director32022-04-012023-03-3107402411bus:CompanySecretary12022-04-012023-03-3107402411bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP