2023-09-012024-08-312024-08-31false12135169SEARCHWORKS 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SEARCHWORKS LTD

Registered Number
12135169
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

SEARCHWORKS LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

GREENWELL, Samuel
QUILL, Alex

Registered Address

Unity, 4th Floor Telephone House
69 Paul St
London
EC2A 4NG

Registered Number

12135169 (England and Wales)
SEARCHWORKS LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets43,2354,829
3,2354,829
Current assets
Debtors162,035295,386
Cash at bank and on hand51,692249,063
213,727544,449
Creditors amounts falling due within one year5(150,799)(322,277)
Net current assets (liabilities)62,928222,172
Total assets less current liabilities66,163227,001
Provisions for liabilities6(615)(918)
Net assets65,548226,083
Capital and reserves
Called up share capital22
Profit and loss account65,546226,081
Shareholders' funds65,548226,083
The financial statements were approved and authorised for issue by the Board of Directors on 25 November 2024, and are signed on its behalf by:
GREENWELL, Samuel
Director
QUILL, Alex
Director

Registered Company No. 12135169
SEARCHWORKS LTD
Notes to the Financial Statements
for the year ended 31 August 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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings33
Office Equipment33
Government grants or assistance
The company utilised Employers National Insurance Allowance during the year.
2.Average number of employees

20242023
Average number of employees during the year1216
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 September 239,0699,069
At 31 August 249,0699,069
Depreciation and impairment
At 01 September 234,2404,240
Charge for year1,5941,594
At 31 August 245,8345,834
Net book value
At 31 August 243,2353,235
At 31 August 234,8294,829
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables46,762119,064
Taxation and social security83,470153,956
Accrued liabilities and deferred income20,56749,257
Total150,799322,277
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
Provisions for liabilities include deferred tax.

2024

2023

££
Net deferred tax liability (asset)615918
Total615918
7.Other commitments
The company has lease commitments of £34,200 net for office rental within 12 months of the accounts year end.