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REGISTERED NUMBER: 05640068 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

The Works Advertising Limited

The Works Advertising Limited (Registered number: 05640068)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Works Advertising Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr I N Oswald
Mr B Pollock





REGISTERED OFFICE: 17 Queens Lane
Newcastle Upon Tyne
NE1 1RN





REGISTERED NUMBER: 05640068 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

The Works Advertising Limited (Registered number: 05640068)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,502 3,061
2,502 3,061

CURRENT ASSETS
Stocks 4,100 4,100
Debtors 7 466,877 410,352
Cash at bank 115,498 255,450
586,475 669,902
CREDITORS
Amounts falling due within one year 8 (301,984 ) (285,299 )
NET CURRENT ASSETS 284,491 384,603
TOTAL ASSETS LESS CURRENT
LIABILITIES

286,993

387,664

CREDITORS
Amounts falling due after more than one
year

9

-

(22,825

)
NET ASSETS 286,993 364,839

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 286,893 364,739
286,993 364,839

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:




Mr I N Oswald - Director Mr J Simpson - Director




Mr B Pollock - Director


The Works Advertising Limited (Registered number: 05640068)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

The Works Advertising Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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 etc - 15% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

The Works Advertising Limited (Registered number: 05640068)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 560,000
AMORTISATION
At 1 May 2023
and 30 April 2024 560,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 84,192
DEPRECIATION
At 1 May 2023 81,131
Charge for year 559
At 30 April 2024 81,690
NET BOOK VALUE
At 30 April 2024 2,502
At 30 April 2023 3,061

The Works Advertising Limited (Registered number: 05640068)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 98,753 75,654
Amounts owed by group undertakings 321,266 271,780
Other debtors 38,989 46,930
459,008 394,364

Amounts falling due after more than one year:
Other debtors 7,869 15,988

Aggregate amounts 466,877 410,352

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,067 21,060
Trade creditors 76,476 61,309
Amounts owed to group undertakings 150,000 150,000
Taxation and social security 15,987 14,402
Other creditors 38,454 38,528
301,984 285,299

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 22,825

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
£    £   
Mr J Simpson
Balance outstanding at start of year 6,053 13,323
Amounts advanced 18,705 -
Amounts repaid (20,606 ) (7,270 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,152 6,053

Mr B Pollock
Balance outstanding at start of year 8,724 15,994
Amounts advanced 18,567 -
Amounts repaid (20,000 ) (7,270 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,291 8,724

Mr I N Oswald
Balance outstanding at start of year 13,609 18,516
Amounts advanced 18,567 2,363
Amounts repaid (20,000 ) (7,270 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,176 13,609

The directors' loans are interest free and repayable on demand.