WORKSHARP (PROPERTIES) LIMITED

WORKSHARP (PROPERTIES) LIMITED

WORKSHARP (PROPERTIES) LIMITED - Company Information

Print Friendly Version

WORKSHARP (PROPERTIES) LIMITED

Company Registration Number:
03549059 (England and Wales)

Unaudited abridged accounts for the year ended 30 December 2021

Period of accounts

Start date: 31 December 2020

End date: 30 December 2021

WORKSHARP (PROPERTIES) LIMITED

Contents of the Financial Statements

for the Period Ended 30 December 2021

Balance sheet
Notes

WORKSHARP (PROPERTIES) LIMITED

Balance sheet

As at 30 December 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 19,579 14,011
Investments: 4 2,094,069 2,094,069
Total fixed assets: 2,113,648 2,108,080
Current assets
Debtors:   216,562 201,971
Cash at bank and in hand: 4,286 4,687
Total current assets: 220,848 206,658
Creditors: amounts falling due within one year:   (18,413) (65,566)
Net current assets (liabilities): 202,435 141,092
Total assets less current liabilities: 2,316,083 2,249,172
Creditors: amounts falling due after more than one year:   (1,086,671) (1,094,521)
Provision for liabilities:   (6,732)
Total net assets (liabilities): 1,229,412 1,147,919
Capital and reserves
Called up share capital: 2,000,100 2,000,000
Other reserves: 339,244 339,244
Profit and loss account: (1,109,932) (1,191,325)
Shareholders funds: 1,229,412 1,147,919

The notes form part of these financial statements

WORKSHARP (PROPERTIES) LIMITED

Balance sheet statements

For the year ending 30 December 2021 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 February 2022
and signed on behalf of the board by:

Name: Bradley Ridgewell
Status: Director

The notes form part of these financial statements

WORKSHARP (PROPERTIES) LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of consideration received or receivable for rent provided in the normal course of business, and is shown net of VAT. Rental income is recognised equally over the course of the relevant rental agreement.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Plant and machinery - 25% on reducing balance, and Fixtures and fittings - 25% on reducing balance. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

WORKSHARP (PROPERTIES) LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2021

2. Employees

2021 2020
Average number of employees during the period 0 3

WORKSHARP (PROPERTIES) LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2021

3. Tangible Assets

Total
Cost £
At 31 December 2020 106,596
Additions 10,540
At 30 December 2021 117,136
Depreciation
At 31 December 2020 92,585
Charge for year 4,972
At 30 December 2021 97,557
Net book value
At 30 December 2021 19,579
At 30 December 2020 14,011

WORKSHARP (PROPERTIES) LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2021

4. Fixed investments

Fixed Asset Investments has a net book value at 30 December 2021 of 40,000. Investment Property has a net book value at 30 December 2021 of 2,054,069. The properties were valued by Mason Owen Property Consultants in January 2017. The directors frequently review the valuation of properties and feel that the current valuation is a reasonable reflection of market value.