Work First Solutions Limited - Period Ending 2016-03-31

Registration number: 08269552

Work First Solutions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Vanilla Accounting Limited
Chartered Accountants
Byron House
21 Rectory Road
West Bridgford
Nottingham
Nottinghamshire
NG2 6BE

Work First Solutions Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Work First Solutions Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Work First Solutions Limited for the year ended 31 March 2016 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Work First Solutions Limited, as a body, in accordance with the terms of our engagement letterdated 21 July 2014. Our work has been undertaken solely to prepare for your approval the accounts of Work First Solutions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Work First Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Work First Solutions 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 profit of Work First Solutions Limited. You consider that Work First Solutions 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 Work First Solutions 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.

......................................

Vanilla Accounting Limited
Chartered Accountants
Byron House
21 Rectory Road
West Bridgford
Nottingham
Nottinghamshire
NG2 6BE

13 December 2016

Page 1

Work First Solutions Limited
(Registration number: 08269552)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					953			1,233
Current assets
Debtors					-			29,372
Cash at bank and in hand					23,655			6,673
					23,655			36,045
Creditors: Amounts falling due within one year					(14,249)			(23,348)
Net current assets					9,406			12,697
Net assets					10,359			13,930
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					10,259			13,830
Shareholders' funds					10,359			13,930

For the year ending 31 March 2016 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.

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

Approved by the Board on 13 December 2016 and signed on its behalf by:

.........................................
Mr N A Jennings
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Work First Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follws:

Asset class	Depreciation method and rate
Computer Equipment	Straight line 33.33%
Website	Straight line 33.33%

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Work First Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		2,799			2,799
Additions		979			979
At 31 March 2016		3,778			3,778
Depreciation
At 1 April 2015		1,566			1,566
Charge for the year		1,259			1,259
At 31 March 2016		2,825			2,825
Net book value
At 31 March 2016		953			953
At 31 March 2015		1,233			1,233

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £0.00 (2015 - £1) each		-			-			100			100
Ordinary 'A' shares of £1 (2015 - £0.00) each		50			50			-			-
Ordinary 'B' shares of £1 (2015 - £0.00) each		50			50			-			-
		100			100			100			100

New shares allotted

During the year 50 Ordinary 'A' shares having an aggregate nominal value of £50 were allotted for an aggregate consideration of £1.

During the year 50 Ordinary 'B' shares having an aggregate nominal value of £50 were allotted for an aggregate consideration of £1.

Page 4