Company Registration No. 02820824 (England and Wales)
Workplace Interiors Company Cheltenham Limited
Unaudited accounts
for the year ended 31 December 2024
Workplace Interiors Company Cheltenham Limited
Unaudited accounts
Contents
Workplace Interiors Company Cheltenham Limited
Company Information
for the year ended 31 December 2024
Directors
Mr B A Hough
Mrs A M Hough
Mr G D Hough
Mr M D Hough
Mrs S E Hough
Mr S J Hough
Company Number
02820824 (England and Wales)
Registered Office
Oak Farm
Chargrove Lane Shurdington
CHELTENHAM
Gloucestershire
GL51 4XB
England
Accountants
Peartree West Ltd
Oak Farm, Chargrove Lane
Cheltenham
GL51 4XB
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Workplace Interiors Company Cheltenham Limited
for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Workplace Interiors Company Cheltenham Limited for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Peartree West Ltd
Member in Practice
Oak Farm, Chargrove Lane
Cheltenham
GL51 4XB
11 April 2024
Workplace Interiors Company Cheltenham Limited
Statement of financial position
as at 31 December 2024
Intangible assets
43,112
12,780
Tangible assets
805,985
296,450
Inventories
465,540
338,774
Cash at bank and in hand
311,894
815,628
Creditors: amounts falling due within one year
(1,751,150)
(2,301,541)
Net current (liabilities)/assets
(120,378)
424,789
Total assets less current liabilities
728,870
734,170
Provisions for liabilities
Deferred tax
(173,800)
(54,197)
Net assets
555,070
679,973
Called up share capital
11,022
11,022
Profit and loss account
544,048
668,951
Shareholders' funds
555,070
679,973
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by
Mr B A Hough
Director
Company Registration No. 02820824
Workplace Interiors Company Cheltenham Limited
Notes to the Accounts
for the year ended 31 December 2024
Workplace Interiors Company Cheltenham Limited is a private company, limited by shares, registered in England and Wales, registration number 02820824. The registered office is Oak Farm, Chargrove Lane Shurdington, CHELTENHAM, Gloucestershire, GL51 4XB, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
- 33% and 25% per annum of reducing balance
Motor vehicles
- 25% per annum of reducing balance
Fixtures & fittings
- 33% per annum of reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Workplace Interiors Company Cheltenham Limited
Notes to the Accounts
for the year ended 31 December 2024
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have
transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that
the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions
can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of
services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only
to the extent that expenses recognised are recoverable.
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Intangible fixed assets
Other
At 31 December 2024
52,067
At 31 December 2024
43,112
At 31 December 2023
12,780
Workplace Interiors Company Cheltenham Limited
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
190,427
206,509
324,976
721,912
Additions
82,439
26,960
523,411
632,810
At 31 December 2024
272,866
233,469
848,387
1,354,722
At 1 January 2024
101,131
122,069
202,262
425,462
Charge for the year
26,588
25,353
71,334
123,275
At 31 December 2024
127,719
147,422
273,596
548,737
At 31 December 2024
145,147
86,047
574,791
805,985
At 31 December 2023
89,296
84,440
122,714
296,450
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Investments
Subsidiary undertakings
Valuation at 1 January 2024
151
Valuation at 31 December 2024
151
Amounts falling due within one year
Trade debtors
542,698
1,170,663
Accrued income and prepayments
235,015
401,265
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Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
22,229
Trade creditors
919,163
1,257,247
Amounts owed to group undertakings and other participating interests
200,000
-
Taxes and social security
66,248
328,859
Other creditors
1,800
24,033
Workplace Interiors Company Cheltenham Limited
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
4,960 Ordinary shares of £1 each
4,960
4,960
551 Ordinary A shares of £1 each
551
551
2,756 Ordinary B shares of £1 each
2,756
2,756
2,204 Ordinary C shares of £1 each
2,204
2,204
551 Ordinary D shares of £1 each
551
551
The company operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year
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Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
202,936
153,269
Later than one year and not later than five years
389,753
311,819
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Average number of employees
During the year the average number of employees was 53 (2023: 47).