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REGISTERED NUMBER: 03336453 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

OFFICEWORX LTD

OFFICEWORX LTD (REGISTERED NUMBER: 03336453)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OFFICEWORX LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Dr R L Adkins
P M Berry





REGISTERED OFFICE: Hadley House
Croft Street
Cheltenham
Gloucestershire
GL53 0ED





REGISTERED NUMBER: 03336453 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

OFFICEWORX LTD (REGISTERED NUMBER: 03336453)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,349 27,247
Investments 6 100 100
42,449 27,347

CURRENT ASSETS
Stocks 9,375 13,000
Debtors 7 263,357 288,885
Cash at bank 68,816 56,126
341,548 358,011
CREDITORS
Amounts falling due within one year 8 141,496 203,623
NET CURRENT ASSETS 200,052 154,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,501

181,735

CREDITORS
Amounts falling due after more than one
year

9

(10,833

)

(20,833

)

PROVISIONS FOR LIABILITIES (10,303 ) (6,464 )
NET ASSETS 221,365 154,438

CAPITAL AND RESERVES
Called up share capital 45,000 45,000
Capital redemption reserve 15,000 15,000
Retained earnings 161,365 94,438
SHAREHOLDERS' FUNDS 221,365 154,438

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

OFFICEWORX LTD (REGISTERED NUMBER: 03336453)

BALANCE SHEET - continued
30 APRIL 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:




Dr R L Adkins - Director



P M Berry - Director


OFFICEWORX LTD (REGISTERED NUMBER: 03336453)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Officeworx 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Officeworx Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of stationery and office equipment, excluding value added tax. Income is recognised on delivery of goods. Cabling and network installation is recognised on completion of contract.

Goodwill
Goodwill represents a purchased customer list, which is being amortised over its useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less accumulated impairment.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.


OFFICEWORX LTD (REGISTERED NUMBER: 03336453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
The directors have considered the risks and issues concerning the company and its activities, and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have been identified by the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 147,700
AMORTISATION
At 1 May 2023
and 30 April 2024 147,700
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

OFFICEWORX LTD (REGISTERED NUMBER: 03336453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 56,154 64,985 25,058 146,197
Additions - 21,215 555 21,770
At 30 April 2024 56,154 86,200 25,613 167,967
DEPRECIATION
At 1 May 2023 38,124 59,694 21,132 118,950
Charge for year 2,705 2,627 1,336 6,668
At 30 April 2024 40,829 62,321 22,468 125,618
NET BOOK VALUE
At 30 April 2024 15,325 23,879 3,145 42,349
At 30 April 2023 18,030 5,291 3,926 27,247


6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 May 2023
and 30 April 2024 100
NET BOOK VALUE
At 30 April 2024 100
At 30 April 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 117,002 140,746
Amounts owed by group undertakings 141,934 144,934
Directors' loan accounts 904 -
Prepayments 3,517 3,205
263,357 288,885

OFFICEWORX LTD (REGISTERED NUMBER: 03336453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 69,847 103,471
Corporation Tax 38,503 24,352
Social security and other taxes 1,963 1,954
Pension control 642 609
VAT 17,776 16,688
Other Creditors 40 19,000
Directors' loan accounts 625 27,191
Accruals & deferred income 2,100 358
141,496 203,623

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,833 10,000
Bank loans - 2-5 years - 10,833
10,833 20,833

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Dr R L Adkins
Balance outstanding at start of year (13,771 ) (4,241 )
Amounts advanced 13,458 -
Amounts repaid (312 ) (9,530 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (625 ) (13,771 )

P M Berry
Balance outstanding at start of year (13,420 ) (4,241 )
Amounts advanced 14,324 347
Amounts repaid - (9,526 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 904 (13,420 )

No interest is being charged on the loan and there are no set repayment terms.

OFFICEWORX LTD (REGISTERED NUMBER: 03336453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. RELATED PARTY DISCLOSURES

Knights and Hyde Limited

A wholly owned subsidiary


There are no set repayment terms or interest accruing on this balance.

2024 2023
£    £   
Amount due from related party at the balance sheet date 141,934 144,934

Finn Telecom Limited

A company in which both directors are directors and shareholders of


There are no set repayment terms or interest accruing on this balance.

2024 2023
£    £   
Amount due to related party at the balance sheet date - 19,000