2024-01-012024-12-312024-12-31false13775444Wordsmith Projects 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Wordsmith Projects Limited

Registered Number
13775444
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Wordsmith Projects Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

Joanne Smith

Registered Address

Room 1 Unit 5 Coopers Business Park
Derby Road
Burton-On-Trent
DE14 1RN

Registered Number

13775444 (England and Wales)
Wordsmith Projects Limited
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3631-
631-
Current assets
Debtors439,817-
Cash at bank and on hand29,70724,631
69,52424,631
Creditors amounts falling due within one year5(30,939)(6,781)
Net current assets (liabilities)38,58517,850
Total assets less current liabilities39,21617,850
Provisions for liabilities6(120)-
Net assets39,09617,850
Capital and reserves
Called up share capital100100
Profit and loss account38,99617,750
Shareholders' funds39,09617,850
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
Joanne Smith
Director
Registered Company No. 13775444
Wordsmith Projects Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment4
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Accrued income is measured as the estimated value of fees earned but not invoiced as at the balance sheet date.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions651651
At 31 December 24651651
Depreciation and impairment
Charge for year2020
At 31 December 242020
Net book value
At 31 December 24631631
At 31 December 23--
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables39,728-
Prepayments and accrued income89-
Total39,817-
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties3,3282,055
Taxation and social security16,2113,853
Accrued liabilities and deferred income11,400873
Total30,9396,781
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)120-
Total120-