Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11391229 2023-06-01 2024-05-31 11391229 2022-06-01 2023-05-31 11391229 2024-05-31 11391229 2023-05-31 11391229 c:Director1 2023-06-01 2024-05-31 11391229 d:FurnitureFittings 2023-06-01 2024-05-31 11391229 d:FurnitureFittings 2024-05-31 11391229 d:FurnitureFittings 2023-05-31 11391229 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11391229 d:OfficeEquipment 2023-06-01 2024-05-31 11391229 d:OfficeEquipment 2024-05-31 11391229 d:OfficeEquipment 2023-05-31 11391229 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11391229 d:ComputerEquipment 2023-06-01 2024-05-31 11391229 d:ComputerEquipment 2024-05-31 11391229 d:ComputerEquipment 2023-05-31 11391229 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11391229 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11391229 d:CurrentFinancialInstruments 2024-05-31 11391229 d:CurrentFinancialInstruments 2023-05-31 11391229 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 11391229 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11391229 d:ShareCapital 2024-05-31 11391229 d:ShareCapital 2023-05-31 11391229 d:RetainedEarningsAccumulatedLosses 2024-05-31 11391229 d:RetainedEarningsAccumulatedLosses 2023-05-31 11391229 c:FRS102 2023-06-01 2024-05-31 11391229 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 11391229 c:FullAccounts 2023-06-01 2024-05-31 11391229 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11391229 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 11391229










POLYTECHNIC WORKS & SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
POLYTECHNIC WORKS & SERVICES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF POLYTECHNIC WORKS & SERVICES LIMITED
FOR THE YEAR ENDED 31 MAY 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 Polytechnic Works & Services Limited for the year ended 31 May 2024 which comprise  the Balance Sheet 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 https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Polytechnic Works & Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Polytechnic Works & Services Limited and state those matters that we have agreed to state to the Board of Directors of Polytechnic Works & Services Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Polytechnic Works & Services Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Polytechnic Works & Services 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 Polytechnic Works & Services Limited. You consider that Polytechnic Works & Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Polytechnic Works & Services 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.

  



MHA
Chartered Accountants
6th Floor
2 London Wall Place
London
EC2Y 5AU
25 February 2025
MHA is the trading name of Maclntyre Hudson LLP, a limited liability partnership in England and wales (registered number OC312313).
Page 1

 
POLYTECHNIC WORKS & SERVICES LIMITED
REGISTERED NUMBER: 11391229

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,502
22,843

  
13,502
22,843

Current assets
  

Debtors: amounts falling due within one year
 5 
24,030
11,748

Cash at bank and in hand
 6 
26,276
69,486

  
50,306
81,234

Creditors: amounts falling due within one year
 7 
(4,006)
(28,431)

Net current assets
  
 
 
46,300
 
 
52,803

Total assets less current liabilities
  
59,802
75,646

  

Net assets
  
59,802
75,646


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
59,702
75,546

  
59,802
75,646


Page 2

 
POLYTECHNIC WORKS & SERVICES LIMITED
REGISTERED NUMBER: 11391229
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

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.

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 statement of comprehensive income 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: 




Georgia Carey
Director

Date: 24 February 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
POLYTECHNIC WORKS & SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The company is a private company limited by shares incorporated in England and Wales.
The principal activity of the company is specialised design activities. The registered office is Polytechnic Unit 1, 1 Bodney Road, London, England, E8 1AY.

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 financial statements are prepared in £ sterling, the functional currency, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

Page 4

 
POLYTECHNIC WORKS & SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
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.

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.

The estimated useful life range is:

Fixtures and fittings
-
3 years
Office equipment
-
3 years
Computer equipment
-
3 years

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.

Page 5

 
POLYTECHNIC WORKS & SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

2024
£

Wages and salaries
17,157

Social security costs
800

17,957


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
37,683
3,477
4,362
45,522


Additions
774
145
1,770
2,689



At 31 May 2024

38,457
3,622
6,132
48,211



Depreciation


At 1 June 2023
19,129
1,455
2,095
22,679


Charge for the year on owned assets
9,924
1,058
1,048
12,030



At 31 May 2024

29,053
2,513
3,143
34,709



Net book value



At 31 May 2024
9,404
1,109
2,989
13,502



At 31 May 2023
18,554
2,022
2,267
22,843

Page 6

 
POLYTECHNIC WORKS & SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
14,012
9,596

Other debtors
6,570
2,152

Prepayments and accrued income
145
-

Tax recoverable
3,303
-

24,030
11,748



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
26,276
69,486

26,276
69,486



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
46
11,729

Corporation tax
-
4,795

Other taxation and social security
-
3,297

Other creditors
780
3,024

Accruals and deferred income
3,180
5,586

4,006
28,431



8.


Related party transactions

Included in other debtors at the balance sheet date is an amount due from the directors of £3,712 (2023: £Nil) in the form of a loan. The loan is interest free and repaid post year end.

 
Page 7