WRA Associates Limited |
Registered number: |
08403422 |
Balance Sheet |
as at 31 August 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Current assets |
Work-in-progress |
|
|
3,900 |
|
|
10,150 |
Debtors |
5 |
|
4,957 |
|
|
3,720 |
Cash at bank and in hand |
|
|
20 |
|
|
120 |
|
|
|
8,877 |
|
|
13,990 |
|
Creditors: amounts falling due within one year |
6 |
|
(32,316) |
|
|
(31,173) |
|
Net current liabilities |
|
|
|
(23,439) |
|
|
(17,183) |
|
Total assets less current liabilities |
|
|
|
(23,439) |
|
|
(17,183) |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(2,250) |
|
|
(5,250) |
|
|
|
Net liabilities |
|
|
|
(25,689) |
|
|
(22,433) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
(25,789) |
|
|
(22,533) |
|
Shareholders' funds |
|
|
|
(25,689) |
|
|
(22,433) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
W E Rowbotham, Esq |
Director |
Approved by the board on 20 February 2025 |
|
WRA Associates Limited |
Notes to the Accounts |
for the year ended 31 August 2024 |
|
|
1 |
Accounting policies |
|
|
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 |
|
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 rendering of services. 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. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Computers |
over 3 years |
|
Office equipment & furniture |
over 4 years |
|
|
Work-in-progress |
|
Work-in-progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
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. |
|
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 September 2023 |
30,000 |
|
At 31 August 2024 |
30,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 September 2023 |
30,000 |
|
At 31 August 2024 |
30,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years. |
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Computers & office equipment |
|
|
Cost |
|
At 1 September 2023 |
5,682 |
|
At 31 August 2024 |
5,682 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2023 |
5,682 |
|
At 31 August 2024 |
5,682 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2024 |
- |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
4,957 |
|
3,720 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
16,936 |
|
13,747 |
|
Trade creditors |
241 |
|
- |
|
Taxation and social security costs |
320 |
|
1,026 |
|
Other creditors |
14,819 |
|
16,400 |
|
|
|
|
|
|
32,316 |
|
31,173 |
|
|
|
|
|
|
|
|
|
|
Included in creditors is £12,981 (2023:£14,573) owing to the director. This loan was interest-free. |
7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
2,250 |
|
5,250 |
|
|
|
|
|
|
|
|
|
|
8 |
Going concern |
|
|
The company is dependant on the provision of finance by the director for the activities of the company to continue. |
|
|
9 |
Controlling party |
|
|
The company is controlled by the director, who owns 76% of the issued share capital. |
|
|
10 |
Other information |
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|
WRA Associates Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Devonshire House |
|
582 Honeypot Lane |
|
Stanmore |
|
Middlesex |
|
HA7 1JS |