ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312023-05-313trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01falsetrue3 12037791 2021-01-01 2021-12-31 12037791 2020-01-01 2020-12-31 12037791 2021-12-31 12037791 2020-12-31 12037791 c:Director1 2021-01-01 2021-12-31 12037791 d:CurrentFinancialInstruments 2021-12-31 12037791 d:CurrentFinancialInstruments 2020-12-31 12037791 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12037791 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 12037791 d:ShareCapital 2021-12-31 12037791 d:ShareCapital 2020-12-31 12037791 d:RetainedEarningsAccumulatedLosses 2021-12-31 12037791 d:RetainedEarningsAccumulatedLosses 2020-12-31 12037791 c:FRS102 2021-01-01 2021-12-31 12037791 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 12037791 c:FullAccounts 2021-01-01 2021-12-31 12037791 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 12037791

DEAN ST WORKS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021


DEAN ST WORKS LIMITED REGISTERED NUMBER:12037791

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

		As restated
	2021	2020
Note	£	£


Current assets
Debtors: amounts falling due within one year	4	552,695		530,100
Cash at bank and in hand		47,758		9,773
		600,453		539,873
Creditors: amounts falling due within one year	5	(561,932)		(510,106)
Net current assets			38,521		29,767

Net assets			38,521		29,767

Capital and reserves
Called up share capital	100	100
Profit and loss account	38,421	29,667
	38,521	29,767

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DEAN ST WORKS LIMITED REGISTERED NUMBER:12037791

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A J Chaytor

Director

Date: 31 May 2023

The notes on pages 3 to 5 form part of these financial statements.

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DEAN ST WORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Dean St Works Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Combe House, 33 Oakfield Road, Clifton, Bristol. England, BS8 2AT and its registered number is 12037791.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
These financial statements are the first annual financial statements of the company prepared in
accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of
Ireland” as applied in the context of the small entities regime. The first date at which FRS 102 was
applied was 1 January 2020. The company prepared its financial statements in the previous year
in accordance with the provisions applicable to the entity to the micro-entities' regime.

The transition to FRS 102 has resulted in no material changes in accounting policies, material
adjustments to the profit and loss or equity of the company as previously reported, or presentational changes to the profit and loss and balance sheet.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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DEAN ST WORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 3 (2020 -3).

Debtors

					2021	2020
					£	£


Amounts owed by group undertakings	15,970	100
Other debtors	536,725	530,000
	552,695	530,100

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DEAN ST WORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Trade creditors	-	57
Amounts owed to group undertakings	555,728	508,549
Accruals and deferred income	6,204	1,500
	561,932	510,106

6.	Prior year adjustment

During the preparation of these financial statements, it was identified that prior year turnover had been understated by £224,371, prior year cost of sales had been understated by £215,396, and prior year creditors falling due within one year had been overstated by £8,975. An adjustment has been made to correct these errors. The impact on profit for the year ended 31 December 2020 is to increase profit and retained earnings by £8,975.

7.	Related party transactions
	At the balance sheet date, the company owed £555,728 (2020 - £508,549) to and was owed £15,970 (2021 - £100) by connected companies.

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