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REGISTERED NUMBER: 04265379 (England and Wales)















PERMITS2WORK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






PERMITS2WORK LIMITED (REGISTERED NUMBER: 04265379)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


PERMITS2WORK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTORS: Mrs S A Paterson-Passmore
Mr A D Paterson
Mr M Passmore
Mr H T Paterson



SECRETARY: Mr A D Paterson



REGISTERED OFFICE: 8 Kingsdown Orchard
Hyde Road
SWINDON
Wiltshire
SN2 7RR



REGISTERED NUMBER: 04265379 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Barclays Bank Plc
10 - 14 High Street
SWINDON
Wiltshire
SN1 3EP

PERMITS2WORK LIMITED (REGISTERED NUMBER: 04265379)

STATEMENT OF FINANCIAL POSITION
31ST AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 12,481 12,506

CURRENT ASSETS
Inventories 60,319 88,462
Debtors 5 256,013 538,047
Cash at bank and in hand 1,596,316 1,473,672
1,912,648 2,100,181
CREDITORS
Amounts falling due within one year 6 937,982 1,216,184
NET CURRENT ASSETS 974,666 883,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

987,147

896,503

PROVISIONS FOR LIABILITIES 48,120 47,498
NET ASSETS 939,027 849,005

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 938,927 848,905
SHAREHOLDERS' FUNDS 939,027 849,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PERMITS2WORK LIMITED (REGISTERED NUMBER: 04265379)

STATEMENT OF FINANCIAL POSITION - continued
31ST AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th May 2025 and were signed on its behalf by:




Mrs S A Paterson-Passmore - Director



Mr A D Paterson - Director


PERMITS2WORK LIMITED (REGISTERED NUMBER: 04265379)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024


1. STATUTORY INFORMATION

Permits2Work Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04265379

Registered office: 8 Kingsdown Orchard, Hyde Road, Swindon, Wiltshire, SN2 7RR

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate estimate for work in progress by assessing work invoiced after the year end.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Website development - 25% on cost
Office equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Work in progress
Work in progress represents work not invoiced, net of value added tax, based on work invoiced in the months after the year end carried out before the year end.

Financial instruments
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.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


PERMITS2WORK LIMITED (REGISTERED NUMBER: 04265379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1st September 2023 114,186
Additions 3,513
At 31st August 2024 117,699
DEPRECIATION
At 1st September 2023 101,680
Charge for year 3,538
At 31st August 2024 105,218
NET BOOK VALUE
At 31st August 2024 12,481
At 31st August 2023 12,506

PERMITS2WORK LIMITED (REGISTERED NUMBER: 04265379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 242,677 519,578
Other debtors 13,336 18,469
256,013 538,047

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,607 9,634
Taxation and social security 302,615 389,232
Other creditors 629,760 817,318
937,982 1,216,184

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 22,665 22,665
Between one and five years 33,998 44,832
56,663 67,497

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100