Registered number
11123010
Change Works Ltd
Filleted Accounts
31 December 2024
Change Works Ltd
Registered number: 11123010
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 84,735 108,463
Current assets
Debtors 4 8,272 40,822
Cash at bank and in hand - 2
8,272 40,824
Creditors: amounts falling due within one year 5 (48,251) (76,801)
Net current liabilities (39,979) (35,977)
Total assets less current liabilities 44,756 72,486
Provisions for liabilities (16,100) (20,608)
Net assets 28,656 51,878
Capital and reserves
Called up share capital 1 1
Profit and loss account 28,655 51,877
Shareholder's funds 28,656 51,878
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rosa Metra
Director
Approved by the board on 22 September 2025
Change Works Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% Straight Line Method
Fixtures & Fittings 20% Straight Line Method
Computer Equipment 33.33% Straight Line Method
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
At 1 January 2024 18,576 119,761 21,475 159,812
Additions - - 4,094 4,094
At 31 December 2024 18,576 119,761 25,569 163,906
Depreciation
At 1 January 2024 634 37,313 13,402 51,349
Charge for the year 372 22,981 4,469 27,822
At 31 December 2024 1,006 60,294 17,871 79,171
Net book value
At 31 December 2024 17,570 59,467 7,698 84,735
At 31 December 2023 17,942 82,448 8,073 108,463
4 Debtors 2024 2023
£ £
Trade debtors 8,272 40,822
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 14,801 4,087
Directors loan account - 41,598
Corporation tax (5,725) (5,725)
Other taxes and social security 713 537
VAT 32,070 35,618
Other creditors 6,392 686
48,251 76,801
6 Other information
Change Works Ltd is a private company limited by shares and incorporated in England. Its registered office is:
27 Old Gloucester Street
London
England
WC1N 3AX
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