Working Time Solutions Limited,Ltd - AccountsLtd - Accounts

Working Time Solutions Limited,Ltd - AccountsLtd - Accounts

WORKING TIME SOLUTIONS LIMITED - Company Information

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2018-10-01 04171559 2019-09-30 04171559 2018-10-01 2019-09-30 04171559 2018-09-30 04171559 2017-10-01 2018-09-30 04171559 uk-core:WithinOneYear 2018-09-30 04171559 uk-core:WithinOneYear 2019-09-30 04171559 uk-core:ShareCapital 2019-09-30 04171559 uk-core:ShareCapital 2018-09-30 04171559 uk-core:SharePremium 2019-09-30 04171559 uk-core:SharePremium 2018-09-30 04171559 uk-core:RetainedEarningsAccumulatedLosses 2019-09-30 04171559 uk-core:RetainedEarningsAccumulatedLosses 2018-09-30 04171559 uk-bus:Director1 2018-10-01 2019-09-30 04171559 uk-core:NetGoodwill 2018-10-01 2019-09-30 04171559 uk-core:Buildings 2018-10-01 2019-09-30 04171559 uk-core:ToolsEquipment 2018-10-01 2019-09-30 04171559 uk-core:FurnitureFittings 2018-10-01 2019-09-30 04171559 uk-core:Goodwill 2018-09-30 04171559 uk-core:Goodwill 2019-09-30 04171559 uk-core:ToolsEquipment 2018-09-30 04171559 uk-core:FurnitureFittings 2018-09-30 04171559 uk-core:Buildings 2018-09-30 04171559 uk-core:Buildings 2019-09-30 04171559 uk-core:FurnitureFittings 2019-09-30 04171559 uk-core:ToolsEquipment 2019-09-30 04171559 uk-core:CostValuation 2018-09-30 04171559 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2018-09-30 04171559 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2019-09-30 04171559 uk-core:CostValuation 2019-09-30 04171559 uk-core:Non-currentFinancialInstruments 2019-09-30 04171559 uk-core:Non-currentFinancialInstruments 2018-09-30 iso4217:GBP xbrli:pure 04171559 uk-bus:AuditExemptWithAccountantsReport 2018-10-01 2019-09-30 04171559 uk-bus:FRS102 2018-10-01 2019-09-30 04171559 uk-bus:FullAccounts 2018-10-01 2019-09-30 04171559 uk-bus:PrivateLimitedCompanyLtd 2018-10-01 2019-09-30
Working Time Solutions Limited
Registered Number:04171559
For the year ended 30 September 2019
England and Wales
Unaudited Financial Statements
2
For the year ended 30 September 2019
Working Time Solutions Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
As at 30 September 2019
Working Time Solutions Limited
Statement of Financial Position
Registered Number :
04171559
£
£
2018
2019
Notes
Fixed assets
Property, plant and equipment
24,809
33,353
3
Financial assets
100
100
4
24,909
33,453
Current assets
Trade and other receivables
740,939
972,197
5
337,867
Cash and cash equivalents
448,309
1,420,506
1,078,806
Trade and other payables: amounts falling due within one
year
(574,065)
(1,221,568)
6
504,741
198,938
Net current assets
Total assets less current liabilities
223,847
538,194
223,847
Net assets
538,194
Capital and reserves
Called up share capital
13,000
13,000
Share premium account
149,370
149,370
Retained earnings
61,477
375,824
223,847
538,194
Shareholders' funds
For the year ended 30 September 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 of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
K J White Director
These financial statements were approved and authorised for issue by the Board on 20 December 2019 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 September 2019
Working Time Solutions Limited
Notes to the Financial Statements
Statutory Information
Working Time Solutions Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04171559.
Principal place of business:
3rd Floor
Sevendale House
5-7 Dale Street
Manchester
M1 1JB
Registered address:
3rd Floor, Sevendale House 5-7 Dale Street
Northern Quarter
Manchester
England
M1 1JB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
The company derives its income from the sale of software licences, subscriptions and service level agreements and the provision of professional services. Income from the sale of software licences is included in the Income Statement on the date of granting the licence to the customer. Income from subscriptions and service level agreements are included in the Income Statement taking into account the stage of completion of contractual obligations to the customer on a time basis. Provision of professional services which consists mainly of consultancy work and software implementation is included in the Income Statement taking into account the stage of completion of contractual obligations to the customer. The stage of completeness is ascertained by assessing the fair value of the services provided to the statement of financial position date as a proportion of the total fair value of the invoice or contract at the end of the financial year. Losses on contracts are recognised in the period in which the loss first becomes foreseeable.
Research and development
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of 5 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Building improvements
20% Straight line
33% Straight line
Computer equipment
2 of 5
5
For the year ended 30 September 2019
Working Time Solutions Limited
Notes to the Financial Statements Continued
15% Reducing balance
Fixtures and fittings
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.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 October 2018
35,000
At 30 September 2019
35,000
Amortisation
At 01 October 2018
35,000
At 30 September 2019
35,000
Net book value
At 30 September 2019
-
At 30 September 2018
-
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6
For the year ended 30 September 2019
Working Time Solutions Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Building
improvements
£
£
£
£
Cost or
valuation
At 01 October 2018
202,436
118,907
66,937
16,592
631
-
631
-
Additions
-
-
(5,153)
Disposals
(5,153)
At 30 September 2019
11,439
67,568
118,907
197,914
Provision for depreciation and impairment
At 01 October 2018
169,083
117,391
39,248
12,444
Charge for year
7,886
871
4,163
2,852
(3,864)
-
-
(3,864)
On disposal
At 30 September 2019
173,105
118,262
43,411
11,432
At 30 September 2019
Net book value
7
24,157
645
24,809
At 30 September 2018
4,148
27,689
1,516
33,353
4. Investments held as fixed assets
Shares in group and participating interests
Total
At 01 October 2018
100
100
Cost
£
£
At 30 September 2019
100
100
At 30 September 2019
Net book value
100
100
At 01 October 2018
100
100
5. Trade and other receivables
2018
2019
£
£
Trade debtors
692,491
535,630
Amounts owed by group undertakings and participating interests
-
84
Other debtors
279,706
205,225
740,939
972,197
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7
For the year ended 30 September 2019
Working Time Solutions Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year
2018
2019
£
£
Trade creditors
62,267
57,308
Taxation and social security
154,792
121,832
Other creditors
1,004,509
394,925
1,221,568
574,065
7. Average number of persons employed
During the year the average number of employees was 31 (2018 : 30)
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