Workbrands Limited - Period Ending 2016-06-30

Registration number: 05507231

Workbrands Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016

R S Porter & Co Limited
Albion Dockside Building
Hanover Place
Bristol
BS1 6UT

Workbrands 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
Workbrands Limited
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Workbrands Limited for the year ended 30 June 2016 set out on pages XX 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Workbrands Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Workbrands Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Workbrands Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Workbrands 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 Workbrands Limited. You consider that Workbrands 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 Workbrands 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.

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

R S Porter & Co Limited
Albion Dockside Building
Hanover Place
Bristol
BS1 6UT

1 November 2016

Page 1

Workbrands Limited

(Registration number: 05507231)
Abbreviated Balance Sheet as at 30 June 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	60,199	76,147
Current assets
Stocks		16,450	22,873
Debtors		233,826	228,689
Cash at bank and in hand		14,300	13,594
		264,576	265,156
Creditors: Amounts falling due within one year		(141,322)	(88,546)
Net current assets		123,254	176,610
Total assets less current liabilities		183,453	252,757
Provisions for liabilities		(12,040)	(14,589)
Net assets		171,413	238,168
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		171,313	238,068
Shareholders funds		171,413	238,168

For the year ending 30 June 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 1 December 2016 and signed on its behalf by:

.........................................
Mr Nicholas James Farrar
Director

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

Workbrands Limited

Notes to the Abbreviated Accounts

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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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 follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Workbrands Limited

Notes to the Abbreviated Accounts

Fixed assets

	Tangible assets £	Total £
Cost
At 1 July 2015	135,470	135,470
Additions	4,118	4,118
At 30 June 2016	139,588	139,588
Depreciation
At 1 July 2015	59,323	59,323
Charge for the year	20,066	20,066
At 30 June 2016	79,389	79,389
Net book value
At 30 June 2016	60,199	60,199
At 30 June 2015	76,147	76,147

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 4