Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31false2023-06-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10754203 2023-06-01 2024-05-31 10754203 2022-06-01 2023-05-31 10754203 2024-05-31 10754203 2023-05-31 10754203 c:Director2 2023-06-01 2024-05-31 10754203 d:ComputerEquipment 2023-06-01 2024-05-31 10754203 d:ComputerEquipment 2024-05-31 10754203 d:ComputerEquipment 2023-05-31 10754203 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10754203 d:CurrentFinancialInstruments 2024-05-31 10754203 d:CurrentFinancialInstruments 2023-05-31 10754203 d:Non-currentFinancialInstruments 2024-05-31 10754203 d:Non-currentFinancialInstruments 2023-05-31 10754203 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10754203 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10754203 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 10754203 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10754203 d:ShareCapital 2024-05-31 10754203 d:ShareCapital 2023-05-31 10754203 d:RetainedEarningsAccumulatedLosses 2024-05-31 10754203 d:RetainedEarningsAccumulatedLosses 2023-05-31 10754203 c:OrdinaryShareClass1 2023-06-01 2024-05-31 10754203 c:OrdinaryShareClass1 2024-05-31 10754203 c:FRS102 2023-06-01 2024-05-31 10754203 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10754203 c:FullAccounts 2023-06-01 2024-05-31 10754203 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10754203 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10754203









WORKSHOP TECH SOLUTIONS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
WORKSHOP TECH SOLUTIONS LTD
REGISTERED NUMBER: 10754203

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
224
902

  
224
902

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
28,649
45,990

Cash at bank and in hand
  
21,569
61,252

  
50,218
107,242

Creditors: amounts falling due within one year
 6 
(375,932)
(341,100)

NET CURRENT LIABILITIES
  
 
 
(325,714)
 
 
(233,858)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(325,490)
(232,956)

Creditors: amounts falling due after more than one year
 7 
(50,778)
(25,648)

  

NET LIABILITIES
  
(376,268)
(258,604)


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(376,368)
(258,704)

  
(376,268)
(258,604)



The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
WORKSHOP TECH SOLUTIONS LTD
REGISTERED NUMBER: 10754203
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Williams
Director

Date: 12 February 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WORKSHOP TECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


GENERAL INFORMATION

Workshop Tech Solutions Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is 18 Wenlock Road, London, England, N1 7TA.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

As at yearend, the Company had net liabilities of £376,268 (2023 - £258,604) which is consistent with the Company's business plan as it progresses its activities. Given the ongoing commercialisation and scaling of the business, along with the support committed by the directors and shareholders, they have a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the foreseeable future and therefore continue to adopt the going concern basis in preparing the financial statements.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
WORKSHOP TECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.5
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.10

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
WORKSHOP TECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


EMPLOYEES




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


TANGIBLE FIXED ASSETS





Computer equipment

£



COST


At 1 June 2023
9,204



At 31 May 2024

9,204



DEPRECIATION


At 1 June 2023
8,302


Charge for the year on owned assets
678



At 31 May 2024

8,980



NET BOOK VALUE



At 31 May 2024
224



At 31 May 2023
902

Page 5

 
WORKSHOP TECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
7,804
19,104

Other debtors
9,000
9,000

Prepayments and accrued income
11,845
17,886

28,649
45,990



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
79,304
46,700

Other taxation and social security
3,882
3,469

Other creditors
249,033
249,655

Accruals and deferred income
33,713
31,276

375,932
341,100


Bank loans represent a Government backed 'bounce back' loan, which was drawn down in November 2020. This loan is 100% guaranteed by the Government with interest charged at a rate of 2.5% per annum during the year (2023 – 2.5%).  
Other creditors include £423 (2023: £1,045) payable to the Company's defined contribution pension scheme.


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
15,778
25,648

Other creditors
35,000
-

50,778
25,648


Bank loans represent a Government backed 'bounce back' loan, which was drawn down in November 2020. This loan is 100% guaranteed by the Government with interest charged at a rate of 2.5% per annum during the year (2023 – 2.5%).  

Page 6

 
WORKSHOP TECH SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100,000 Ordinary shares of £0.001 each
100
100


 
Page 7