Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 09085487 A Demetriou M Demetriou A Demetriou and M Walker true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09085487 2023-06-30 09085487 2024-06-30 09085487 2023-07-01 2024-06-30 09085487 frs-core:CurrentFinancialInstruments 2024-06-30 09085487 frs-core:Non-currentFinancialInstruments 2024-06-30 09085487 frs-core:MotorVehicles 2023-07-01 2024-06-30 09085487 frs-core:PlantMachinery 2024-06-30 09085487 frs-core:PlantMachinery 2023-07-01 2024-06-30 09085487 frs-core:PlantMachinery 2023-06-30 09085487 frs-core:ShareCapital 2024-06-30 09085487 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 09085487 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09085487 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 09085487 frs-bus:SmallEntities 2023-07-01 2024-06-30 09085487 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 09085487 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09085487 1 2023-07-01 2024-06-30 09085487 frs-bus:Director1 2023-07-01 2024-06-30 09085487 frs-bus:Director1 2023-06-30 09085487 frs-bus:Director1 2024-06-30 09085487 frs-bus:Director2 2023-07-01 2024-06-30 09085487 frs-bus:Director2 2023-06-30 09085487 frs-bus:Director2 2024-06-30 09085487 frs-countries:EnglandWales 2023-07-01 2024-06-30 09085487 2022-06-30 09085487 2023-06-30 09085487 2022-07-01 2023-06-30 09085487 frs-core:CurrentFinancialInstruments 2023-06-30 09085487 frs-core:Non-currentFinancialInstruments 2023-06-30 09085487 frs-core:ShareCapital 2023-06-30 09085487 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 09085487
Work Force Supplies Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
A K E Tax & Accountancy Ltd
Chartered Certified Accountants
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09085487
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,237 3,587
2,237 3,587
CURRENT ASSETS
Stocks 5 25,860 20,000
Debtors 6 68,885 84,317
Cash at bank and in hand 3,532 2,141
98,277 106,458
Creditors: Amounts Falling Due Within One Year 7 (76,490 ) (80,852 )
NET CURRENT ASSETS (LIABILITIES) 21,787 25,606
TOTAL ASSETS LESS CURRENT LIABILITIES 24,024 29,193
Creditors: Amounts Falling Due After More Than One Year 8 (25,443 ) (25,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (559 ) (682 )
NET (LIABILITIES)/ASSETS (1,978 ) 2,678
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (2,078 ) 2,578
SHAREHOLDERS' FUNDS (1,978) 2,678
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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
A Demetriou
Director
3 March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Work Force Supplies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09085487 . The registered office is C/O AKE, Hoddesdon Enterprise Centre, Pindar Road, Hoddesdon, Hertfordshire, EN11 0FJ.
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 electrical goods. 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.
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:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.7. 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.
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 July 2023 12,256
Disposals (2,500 )
As at 30 June 2024 9,756
Depreciation
As at 1 July 2023 8,669
Provided during the period 559
Disposals (1,709 )
As at 30 June 2024 7,519
Net Book Value
As at 30 June 2024 2,237
As at 1 July 2023 3,587
5. Stocks
2024 2023
£ £
Finished goods 25,860 20,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,270 1,097
Amounts owed by participating interests 4,165 4,165
Other debtors 63,450 79,055
68,885 84,317
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,704 21,279
Bank loans and overdrafts 41,268 36,760
Other creditors 7,874 7,532
Taxation and social security 9,644 15,281
76,490 80,852
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 25,443 25,833
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. 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 Andrew Demetriou 28,828 8,710 (17,612 ) - 19,925
Mr Michael Demetriou - 7,038 6,043 - 995
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
MA Global Fixings LtdThe above is a related party by virtue of one of the directors being a director of the related party.During the period the company incurred expenses and received monies on behalf of the related party. At the balance sheet date the related party owed £4,165 (2023:£4,165) to the company. No interest has been charged on this loan during the period.

MA Global Fixings Ltd

The above is a related party by virtue of one of the directors being a director of the related party.

During the period the company incurred expenses and received monies on behalf of the related party. At the balance sheet date the related party owed £4,165 (2023:£4,165) to the company. No interest has been charged on this loan during the period.

M WalkerThe above is a related party by virtue of being a shareholder.During the period the related party incurred expenses on behalf of the company and drew monies against his account. At the balance sheet date the related party owed £24,384 (2023: £24,383) to the company. No interest has been charged on this loan during the period.

M Walker

The above is a related party by virtue of being a shareholder.

During the period the related party incurred expenses on behalf of the company and drew monies against his account. At the balance sheet date the related party owed £24,384 (2023: £24,383) to the company. No interest has been charged on this loan during the period.

A DemetriouThe above is a related party by virtue of being a director.During the period the related party incurred expenses on behalf of the company and drew monies against his account. At the balance sheet date the related party owed £19,925 (2023: £28,828) to the company. No interest has been charged on this loan during the period.

A Demetriou

The above is a related party by virtue of being a director.

During the period the related party incurred expenses on behalf of the company and drew monies against his account. At the balance sheet date the related party owed £19,925 (2023: £28,828) to the company. No interest has been charged on this loan during the period.

M DemetriouThe above is a related party by virtue of being a director.During the period the related party incurred expenses on behalf of the company and drew monies against his account. At the balance sheet date the related party owed £995 (2023: £Nil) to the company. No interest has been charged on this loan during the period.

M Demetriou

The above is a related party by virtue of being a director.

During the period the related party incurred expenses on behalf of the company and drew monies against his account. At the balance sheet date the related party owed £995 (2023: £Nil) to the company. No interest has been charged on this loan during the period.

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12. Ultimate Controlling Party
The company's ultimate controlling parties are A Demetriou and M Walker by virtue of their equal ownership of the issued share capital in the company.
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