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REGISTERED NUMBER: 06893078 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Methodworx Ltd

Methodworx Ltd (Registered number: 06893078)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Methodworx Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J A Simpson
Mrs K J Simpson





REGISTERED OFFICE: The Creative Studios Runfold St. George,
Badshot Lea,
Farnham,
Surrey
England
GU10 1PL





REGISTERED NUMBER: 06893078 (England and Wales)





ACCOUNTANTS: Branston Adams
Suite 2, Victoria House
South Street
Farnham
Surrey
GU9 7QU

Methodworx Ltd (Registered number: 06893078)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,882 29,186
Investments 5 17,904 17,904
48,786 47,090

CURRENT ASSETS
Debtors 6 298,914 197,849
Cash at bank 1,250,786 1,134,017
1,549,700 1,331,866
CREDITORS
Amounts falling due within one year 7 395,712 193,001
NET CURRENT ASSETS 1,153,988 1,138,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,202,774

1,185,955

CREDITORS
Amounts falling due after more than one
year

8

21,747

59,964
NET ASSETS 1,181,027 1,125,991

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,180,927 1,125,891
1,181,027 1,125,991

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





J A Simpson - Director


Methodworx Ltd (Registered number: 06893078)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Methodworx 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 - 25% on cost
Fixtures and fittings - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 23 ) .

Methodworx Ltd (Registered number: 06893078)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 58,535 5,394 63,929
Additions 17,508 270 17,778
At 31 March 2024 76,043 5,664 81,707
DEPRECIATION
At 1 April 2023 33,080 1,663 34,743
Charge for year 14,848 1,234 16,082
At 31 March 2024 47,928 2,897 50,825
NET BOOK VALUE
At 31 March 2024 28,115 2,767 30,882
At 31 March 2023 25,455 3,731 29,186

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 17,904
NET BOOK VALUE
At 31 March 2024 17,904
At 31 March 2023 17,904

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 260,771 164,186
Other debtors 3,500 3,500
Intercompany - Pickwick 34,643 30,163
298,914 197,849

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 36,444 34,670
Trade creditors 29,465 28,895
Tax 73,804 6,457
Social security and other taxes 27,190 21,950
Pension payable 3,574 9
VAT 98,111 90,633
Other creditors 1,510 1,510
Other creditors - L Andrews 10,500 -
Directors' current accounts - 2,636
Directors' loan accounts 113,714 4,893
Accrued expenses 1,400 1,348
395,712 193,001

Methodworx Ltd (Registered number: 06893078)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 21,747 36,443
Bank loans - 2-5 years - 23,521
21,747 59,964

9. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors by virtue of their shareholdings.