REGISTERED NUMBER: |
STEVE WAKE PROJECTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
REGISTERED NUMBER: |
STEVE WAKE PROJECTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
STEVE WAKE PROJECTS LIMITED (REGISTERED NUMBER: 03328544) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 5 |
STEVE WAKE PROJECTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 MARCH 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
255 Green Lanes |
Palmers Green |
London |
N13 4XE |
STEVE WAKE PROJECTS LIMITED (REGISTERED NUMBER: 03328544) |
BALANCE SHEET |
30 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 were approved by the director and authorised for issue on |
STEVE WAKE PROJECTS LIMITED (REGISTERED NUMBER: 03328544) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
1. | STATUTORY INFORMATION |
Steve Wake Projects Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. This may not be appropriate, as there is a deficiency of assets as at 30th March 2024. The company's ability to trade is dependent upon the continuing support of its creditors and directors, which at present is forthcoming. Therefore the going concern basis is considered appropriate. |
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. |
Fixtures and fittings - 15% on reducing balance |
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. |
Investments |
No depreciation is provided on investments in limited edition publications. |
Computer equipment |
The company needs to replace its computer hardware and software at regular intervals in order to maintain the high level of service provided to its clients. It is the companies accounting policy to write off computer equipment in the year of acquisition given that its useful life is less than one year. |
STEVE WAKE PROJECTS LIMITED (REGISTERED NUMBER: 03328544) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 31 March 2023 |
Additions |
At 30 March 2024 |
DEPRECIATION |
At 31 March 2023 |
Charge for year |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 31 March 2023 |
and 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
In 1998 the company acquired some limited edition publications as investments. As described in the accounting policies, in order to give a true and fair view the company does not provide depreciation in respect of these investments. This reflects the director's views that their residual values are at least equal to their book values. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Value added tax | 2,529 | 5,908 |
Directors' current accounts | 127,644 | 127,036 |
Other creditors |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The directors have given personal guarantees to the company's bankers in respective of the bank overdraft. |
STEVE WAKE PROJECTS LIMITED (REGISTERED NUMBER: 03328544) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2024 |
8. | ULTIMATE CONTROLLING PARTY |
S F R Wake, a director and shareholder, controls the company. |