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Registered number: 05838791
Works Independent Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Ash & Associates
Chartered Accountants
First Floor
1A Leadenhall Market
London
EC3V 1LR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05838791
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 417
- 417
CURRENT ASSETS
Debtors 5 35 2,415
Cash at bank and in hand 22,785 9,923
22,820 12,338
Creditors: Amounts Falling Due Within One Year 6 (28,589 ) (15,968 )
NET CURRENT ASSETS (LIABILITIES) (5,769 ) (3,630 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,769 ) (3,213 )
NET LIABILITIES (5,769 ) (3,213 )
CAPITAL AND RESERVES
Called up share capital 7 10 10
Profit and Loss Account (5,779 ) (3,223 )
SHAREHOLDERS' FUNDS (5,769) (3,213)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martin Denman
Director
6th March 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Works Independent Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05838791 . The registered office is 101 Ingrave Road, Brentwood, Essex, CM15 8BA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 8,675
As at 30 June 2024 8,675
Depreciation
As at 1 July 2023 8,258
Provided during the period 417
As at 30 June 2024 8,675
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 417
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5. Debtors
2024 2023
£ £
Due within one year
Director's current account - 1,497
Corporation tax account 35 918
35 2,415
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 35 -
Other taxes and social security 927 927
VAT 14,193 12,881
Accruals and deferred income 2,160 2,160
Directors' loan accounts 11,274 -
28,589 15,968
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Martin Denman 1,497 - (1,497 ) - -
The above loan is unsecured, interest free and repayable on demand.
9. Dividends
10. Ultimate Controlling Party
The ultimate controlling party is Mr Martin P Denman, a director and holder of 90% of the issued share capital of the company.
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