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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
Page
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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
Secretary
Mrs S E 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
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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
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Workplace Interiors Company Cheltenham Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
43,112 
12,780 
Tangible assets
805,985 
296,450 
Investments
151 
151 
849,248 
309,381 
Current assets
Inventories
465,540 
338,774 
Debtors
853,338 
1,571,928 
Cash at bank and in hand
311,894 
815,628 
1,630,772 
2,726,330 
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 
Capital and reserves
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
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Workplace Interiors Company Cheltenham Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
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.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
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.
Taxation
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.
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Workplace Interiors Company Cheltenham Limited Notes to the Accounts for the year ended 31 December 2024
Raw Materials
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
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.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
13,778 
Additions
38,289 
At 31 December 2024
52,067 
Amortisation
At 1 January 2024
998 
Charge for the year
7,957 
At 31 December 2024
8,955 
Net book value
At 31 December 2024
43,112 
At 31 December 2023
12,780 
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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 
Depreciation
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 
Net book value
At 31 December 2024
145,147 
86,047 
574,791 
805,985 
At 31 December 2023
89,296 
84,440 
122,714 
296,450 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2024
151 
Valuation at 31 December 2024
151 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
542,698 
1,170,663 
Accrued income and prepayments
235,015 
401,265 
Other debtors
75,625 
- 
853,338 
1,571,928 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
256,217 
414,297 
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 
Accruals
307,722 
254,876 
1,751,150 
2,301,541 
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Workplace Interiors Company Cheltenham Limited Notes to the Accounts for the year ended 31 December 2024
9
Share capital
2024 
2023 
£ 
£ 
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 
11,022 
11,022 
10
Pension commitments
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
11
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 
592,689 
465,088 
12
Average number of employees
During the year the average number of employees was 53 (2023: 47).
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