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REGISTERED NUMBER: 03340681 (England and Wales)













Report of the Directors and

Unaudited Financial Statements

for the Year Ended 30 June 2024

for

The Workhouse Advertising and Marketing
Ltd.

The Workhouse Advertising and Marketing
Ltd. (Registered number: 03340681)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Report of the Directors 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


The Workhouse Advertising and Marketing
Ltd.

Company Information
for the year ended 30 June 2024







DIRECTORS: M Meadows
N Jepson





REGISTERED OFFICE: Workhouse Studios
Blackburn Road
Ribchester
Lancashire
PR3 3ZQ





REGISTERED NUMBER: 03340681 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

The Workhouse Advertising and Marketing
Ltd. (Registered number: 03340681)

Report of the Directors
for the year ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of marketing sales and promotional services for business, commerce and industry.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

M Meadows
N Jepson

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M Meadows - Director


15 November 2024

The Workhouse Advertising and Marketing
Ltd. (Registered number: 03340681)

Abridged Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,660 50,985

CURRENT ASSETS
Debtors 5 2,230,965 2,031,904
Cash at bank and in hand 895,172 779,605
3,126,137 2,811,509
CREDITORS
Amounts falling due within one year 549,597 422,104
NET CURRENT ASSETS 2,576,540 2,389,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,644,200

2,440,390

CREDITORS
Amounts falling due after more than one
year

(66,667

)

(116,667

)

PROVISIONS FOR LIABILITIES (16,915 ) (38,602 )
NET ASSETS 2,560,618 2,285,121

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 2,560,418 2,284,921
SHAREHOLDERS' FUNDS 2,560,618 2,285,121

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Workhouse Advertising and Marketing
Ltd. (Registered number: 03340681)

Abridged Balance Sheet - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 November 2024 and were signed on its behalf by:





M Meadows - Director


The Workhouse Advertising and Marketing
Ltd. (Registered number: 03340681)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

The Workhouse Advertising and Marketing 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.

The company sells marketing and advertising services to other businesses. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest.

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.


The Workhouse Advertising and Marketing
Ltd. (Registered number: 03340681)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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 34 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 137,897
Additions 43,930
Disposals (10,091 )
At 30 June 2024 171,736
DEPRECIATION
At 1 July 2023 86,912
Charge for year 22,568
Eliminated on disposal (5,404 )
At 30 June 2024 104,076
NET BOOK VALUE
At 30 June 2024 67,660
At 30 June 2023 50,985

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/24 30/6/23
£    £   
Amounts owed by group undertakings - 1,418,914

The Workhouse Advertising and Marketing
Ltd. (Registered number: 03340681)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30/6/24 30/6/23
£    £   
Within one year - 3,120
Between one and five years 132,000 -
In more than five years 356,666 -
488,666 3,120

7. SECURED DEBTS

The following secured debts are included within creditors:

30/6/24 30/6/23
£    £   
Bank loans 116,667 166,667

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/24 30/6/23
value: £    £   
160 Ordinary £1 160 160
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
20 Ordinary C £1 20 20
200 200

The Ordinary A, Ordinary B and Ordinary C shares rank pari passu with the Ordinary shares.

9. ULTIMATE CONTROLLING PARTY

The company is under the control of the director, M Meadows, by virtue of his controlling shareholding in the company's parent company, Workhouse Holdings Limited.