Company Registration No. 03165223 (England and Wales)
Workplacelive Limited
Unaudited accounts
for the year ended 31 March 2019
Workplacelive Limited
Unaudited accounts
Contents
Workplacelive Limited
Company Information
for the year ended 31 March 2019
Director
Cloud City Limited
Company Number
03165223 (England and Wales)
Registered Office
Unit 1, 35 Imperial Way
Croydon
CR0 4RR
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Workplacelive Limited
Accountants' report
Accountants' report to the director of Workplacelive Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Workplacelive Limited for the year ended
31 March 2019 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Workplacelive Limited, as a body, in accordance with the terms of our engagement letter dated 3 July 2019. Our work has been undertaken solely to prepare for your approval the accounts of Workplacelive Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Workplacelive Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Workplacelive Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Workplacelive Limited. You consider that Workplacelive 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 accounts of Workplacelive 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 accounts.
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
3 July 2019
Workplacelive Limited
Statement of financial position
as at 31 March 2019
Tangible assets
330,021
561,276
Cash at bank and in hand
40,024
46,188
Creditors: amounts falling due within one year
(228,294)
(273,633)
Net current assets
31,567
18
Total assets less current liabilities
361,588
561,294
Creditors: amounts falling due after more than one year
(1,419,736)
(1,376,525)
Net liabilities
(1,058,148)
(815,231)
Called up share capital
300,600
300,600
Share premium
476,567
476,567
Profit and loss account
(1,835,315)
(1,592,398)
Shareholders' funds
(1,058,148)
(815,231)
For the year ending 31 March 2019 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 director acknowledges his 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.
Approved by the Board on 6 September 2019.
Cloud City Limited
Director
Company Registration No. 03165223
Workplacelive Limited
Notes to the Accounts
for the year ended 31 March 2019
Workplacelive Limited is a private company, limited by shares, registered in England and Wales, registration number 03165223. The registered office is Unit 1, 35 Imperial Way, Croydon, CR0 4RR.
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.
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.
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:
Fixtures & fittings
25% reducing balance
Computer equipment
33.33% Straight line method
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Workplacelive Limited
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2018
17,536
951,413
968,949
Additions
2,217
485,846
488,063
Disposals
-
(951,413)
(951,413)
At 31 March 2019
19,753
485,846
505,599
At 1 April 2018
11,856
395,817
407,673
Charge for the year
1,789
161,933
163,722
On disposals
-
(395,817)
(395,817)
At 31 March 2019
13,645
161,933
175,578
At 31 March 2019
6,108
323,913
330,021
At 31 March 2018
5,680
555,596
561,276
Trade debtors
147,986
119,479
Accrued income and prepayments
51,476
82,963
Other debtors
20,375
25,021
6
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
30,000
30,000
Trade creditors
100,624
142,758
Taxes and social security
80,143
82,907
Other creditors
1,767
1,377
Loans from directors
11,537
10,978
7
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
20,000
50,000
Other creditors
1,399,736
1,326,525
Other Creditors includes loan from Shareholders & Directors of £1,399,735 (£1,326,525 in YE March 2018). See note 10 for further reference.
Workplacelive Limited
Notes to the Accounts
for the year ended 31 March 2019
The company operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £9,524 (£7,715 in YE March 2018).
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan Account
51,000
-
-
51,000
Director Loan Account
(61,978)
(10,920)
(10,361)
(62,537)
(10,978)
(10,920)
(10,361)
(11,537)
10
Transactions with related parties
During the year the company made the following related party transactions:
Cloud City Ltd (Shareholder & Director);
At the balance sheet date the amount due to Cloud City Ltd was £1,399,735 (2018 - £1,326,525).
Paul Aldridge (Shareholder & Director);
At the balance sheet date the amount due to Paul Aldridge was £72,078 (2018 - £61,978).
CCL Loan to Paul Aldridge
At the balance sheet date the amount due to Paul Aldridge was £51,000.
No loan interest has been charged on Cloud City Ltd loan balance.
11
Average number of employees
During the year the average number of employees was 22 (2018: 25).
