2
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2023 - FRS102_2023
5,592
4,623
557
5,180
412
969
xbrli:pure
xbrli:shares
iso4217:GBP
10761224
2023-05-01
2024-04-30
10761224
2024-04-30
10761224
2023-04-30
10761224
2022-05-01
2023-04-30
10761224
2023-04-30
10761224
2022-04-30
10761224
core:FurnitureFittings
2023-05-01
2024-04-30
10761224
bus:LeadAgentIfApplicable
2023-05-01
2024-04-30
10761224
bus:Director1
2023-05-01
2024-04-30
10761224
core:FurnitureFittings
2023-04-30
10761224
core:FurnitureFittings
2024-04-30
10761224
core:WithinOneYear
2024-04-30
10761224
core:WithinOneYear
2023-04-30
10761224
core:AfterOneYear
2024-04-30
10761224
core:AfterOneYear
2023-04-30
10761224
core:ShareCapital
2024-04-30
10761224
core:ShareCapital
2023-04-30
10761224
core:RetainedEarningsAccumulatedLosses
2024-04-30
10761224
core:RetainedEarningsAccumulatedLosses
2023-04-30
10761224
core:FurnitureFittings
2023-04-30
10761224
bus:SmallEntities
2023-05-01
2024-04-30
10761224
bus:AuditExemptWithAccountantsReport
2023-05-01
2024-04-30
10761224
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
10761224
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
10761224
bus:FullAccounts
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
10761224
Filleted Unaudited Financial Statements |
|
Year ended 30 April 2024
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Notes to the financial statements |
4 to 6 |
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
From Works Limited |
|
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of From Works Limited for the year ended 30 April 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of From Works Limited, as a body, in accordance with the terms of our engagement letter dated 25 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of From Works Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than From Works Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that From Works Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of From Works Limited. You consider that From Works Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of From Works Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES
Chartered Accountants
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
29 January 2025
Statement of Financial Position |
|
30 April 2024
Fixed assets
Tangible assets |
5 |
412 |
969 |
|
|
|
|
Current assets
Debtors |
6 |
8,791 |
5,958 |
Cash at bank and in hand |
1,536 |
18,275 |
|
-------- |
-------- |
|
10,327 |
24,233 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
33,225 |
27,657 |
|
-------- |
-------- |
Net current liabilities |
22,898 |
3,424 |
|
-------- |
------- |
Total assets less current liabilities |
(
22,486) |
(
2,455) |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
5,867 |
10,267 |
|
-------- |
-------- |
Net liabilities |
(
28,353) |
(
12,722) |
|
-------- |
-------- |
|
|
|
|
Statement of Financial Position (continued) |
|
30 April 2024
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
(
28,453) |
(
12,822) |
|
-------- |
-------- |
Shareholders deficit |
(
28,353) |
(
12,722) |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
29 January 2025
, and are signed on behalf of the board by:
Company registration number:
10761224
Notes to the Financial Statements |
|
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Westbrook Court, Sharrow Vale Road, Sheffield, S11 8YZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the period end date, the Statement of Financial Position reflects a net liability position. Despite this, the accounts have been prepared on a going concern basis, this supported by reference to the ongoing director loan account funding provided to the company, which funding is not expected to be withdrawn in the foreseeable future or until cash flow permits.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of management, there are no areas of judgement or key sources of estimation uncertainty that have a significant effect on the financial statements, other than those highlighted below.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
33% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Tangible assets
|
Fixtures and fittings |
|
£ |
Cost |
|
At 1 May 2023 and 30 April 2024 |
5,592 |
|
------- |
Depreciation |
|
At 1 May 2023 |
4,623 |
Charge for the year |
557 |
|
------- |
At 30 April 2024 |
5,180 |
|
------- |
Carrying amount |
|
At 30 April 2024 |
412 |
|
------- |
At 30 April 2023 |
969 |
|
------- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
2,761 |
5,958 |
Other debtors |
6,030 |
– |
|
------- |
------- |
|
8,791 |
5,958 |
|
------- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
4,400 |
4,400 |
Trade creditors |
12,706 |
– |
Social security and other taxes |
– |
7,781 |
Other creditors |
16,119 |
15,476 |
|
-------- |
-------- |
|
33,225 |
27,657 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
5,867 |
10,267 |
|
------- |
-------- |
|
|
|
The above loan is in respect of the Government Covid Bounce Back loan scheme. The Government acts as guarantor to the lender for this loan.
9.
Directors' advances, credits and guarantees
A loan exists as between the company and a Director,
Mr A J Eckworth
. At 1 May 2023, the company was indebted to the director in the sum of £4,818. During the year, the director provided further funds of net £7,881 to leave a closing balance of funds owing to the director, as at 30 April 2024, by the company, of £12,699. A loan exists as between the company and a Director, Mr D P Hancock. At 1 May 2023, the company was indebted to the director in the sum of £8,015. During the year, the director withdrew the whole of this balance leaving a zero position as at 30 April 2024.