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Company registration number: 06977079
Entwurf Limited
Unaudited filleted financial statements
31 July 2024
Entwurf Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Entwurf Limited
Directors and other information
Directors Jon-Paul Daly
John Blanco
Company number 06977079
Registered office Unit P
Reliance Wharf
Hertford Road
London
N1 5EW
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Entwurf Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Entwurf Limited
Year ended 31 July 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 Entwurf Limited for the year ended 31 July 2024 which comprise the statement of financial position and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Entwurf Limited, as a body, in accordance with the terms of our engagement letter dated 6 January 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Entwurf Limited and state those matters that we have agreed to state to the board of directors of Entwurf Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Entwurf Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Entwurf 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 profit of Entwurf Limited. You consider that Entwurf Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Entwurf 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.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
15 April 2025
Entwurf Limited
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 373 846
_______ _______
373 846
Current assets
Stock and work in progress 40,000 40,000
Debtors 6 37,225 35,104
Cash at bank and in hand 4,888 3,159
_______ _______
82,113 78,263
Creditors: amounts falling due
within one year 7 ( 68,003) ( 54,121)
_______ _______
Net current assets 14,110 24,142
_______ _______
Total assets less current liabilities 14,483 24,988
Creditors: amounts falling due
after more than one year 8 ( 14,020) ( 24,233)
Provisions for liabilities ( 70) ( 360)
_______ _______
Net assets 393 395
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 383 385
_______ _______
Shareholders funds 393 395
_______ _______
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 April 2025 , and are signed on behalf of the board by:
Jon-Paul Daly John Blanco
Director Director
Company registration number: 06977079
Entwurf Limited
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit P, Reliance Wharf, Hertford Road, London, N1 5EW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounjts have been prepared on a going concern basis which assumes the continued support of the company's directors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - Straight line over 3 years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 6 ).
5. Tangible assets
Computer equipment Total
£ £
Cost
At 1 August 2023 and 31 July 2024 12,445 12,445
_______ _______
Depreciation
At 1 August 2023 11,599 11,599
Charge for the year 473 473
_______ _______
At 31 July 2024 12,072 12,072
_______ _______
Carrying amount
At 31 July 2024 373 373
_______ _______
At 31 July 2023 846 846
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 34,443 35,104
Other debtors 2,782 -
_______ _______
37,225 35,104
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,213 9,961
Trade creditors 7,288 14,018
Corporation tax 7,937 8,682
Social security and other taxes 6,174 11,888
Other creditors 36,391 9,572
_______ _______
68,003 54,121
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 14,020 24,233
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Jon-Paul Daly - ( 9,488) 12,270 2,782
John Blanco ( 5,490) ( 26,039) 12,260 ( 19,269)
_______ _______ _______ _______
( 5,490) ( 35,527) 24,530 ( 16,487)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Jon-Paul Daly 9,686 ( 22,406) 12,720 -
John Blanco 2,182 ( 20,392) 12,720 ( 5,490)
_______ _______ _______ _______
11,868 ( 42,798) 25,440 ( 5,490)
_______ _______ _______ _______