Workplace Fabric Limited - Accounts to registrar (filleted) - small 18.2
Workplace Fabric Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018 |
| FOR |
| WORKPLACE FABRIC LIMITED |
| WORKPLACE FABRIC LIMITED (REGISTERED NUMBER: 07608844) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| WORKPLACE FABRIC LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Stapleton House Second Floor |
| 110 Clifton Street |
| London |
| EC2A 4HT |
| WORKPLACE FABRIC LIMITED (REGISTERED NUMBER: 07608844) |
| STATEMENT OF FINANCIAL POSITION |
| 30 APRIL 2018 |
| 30.4.18 | 30.4.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps 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 Sections 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 were approved by the Board of Directors on |
| WORKPLACE FABRIC LIMITED (REGISTERED NUMBER: 07608844) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 1. | STATUTORY INFORMATION |
| Workplace Fabric Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| There are no significant judgements or estimates applied to the numbers contained within these financial |
| statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| WORKPLACE FABRIC LIMITED (REGISTERED NUMBER: 07608844) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| (i) Financial assets |
| Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial |
| paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
| where the transaction is measured at the present value of the future receipts discounted at a market rate of |
| interest. Such assets are subsequently carried at amortised cost using the effective interest method. |
| At the end of each reporting period financial assets measured at amortised cost are assessed for objective |
| evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount |
| and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The |
| impairment loss is recognised in the Income Statement. |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, |
| the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the |
| carrying amount would have been had the impairment not previously been recognised. The impairment reversal |
| is recognised in the Income Statement. |
| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint |
| ventures, are initially measured at fair value, which is normally the transaction price. |
| Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Income |
| Statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot |
| be measured reliably are measured at cost less impairment. |
| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or |
| settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party |
| or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the |
| asset to an unrelated third party without imposing additional restrictions. |
| (ii) Financial liabilities |
| Basic financial liabilities, including trade and other creditors, loans from fellow Group companies that are |
| classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing |
| transaction, where the debt instrument is measured at the present value of the future payments discounted at a |
| market rate of interest. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
| business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not, |
| they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and |
| subsequently measured at amortised cost using the effective interest method. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is |
| discharged, cancelled or expires. |
| WORKPLACE FABRIC LIMITED (REGISTERED NUMBER: 07608844) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that |
| it relates to items recognised in other comprehensive income or directly in equity. |
| Current taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the statement of financial position date. |
| Research and development |
| Revenue expenditure on research and development is written off in the year in which it is incurred. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Going concern |
| The Directors have a reasonable expectation that the Company will continue to trade profitably and have |
| adequate resources to continue in operational existence for the foreseeable future. The Directors are therefore of |
| the opinion that they should continue to adopt the going concern basis of accounting in preparing the annual |
| financial statements. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid |
| investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to |
| changes in value. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Patents |
| and | Development |
| licences | costs | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2017 |
| Additions |
| At 30 April 2018 |
| AMORTISATION |
| At 1 May 2017 |
| Amortisation for year |
| At 30 April 2018 |
| NET BOOK VALUE |
| At 30 April 2018 |
| At 30 April 2017 |
| WORKPLACE FABRIC LIMITED (REGISTERED NUMBER: 07608844) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.18 | 30.4.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.18 | 30.4.17 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 30.4.18 | 30.4.17 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | RELATED PARTY DISCLOSURES |
| During the year the director advanced the company £3,485 and the company repaid £50 to the directors. At the |
| date of the financial statements, the company owed the director £3,435(£nil). The loans are interest free and |
| repayable on demand |
| Companies under common control |
| During the year, a company under control of one of the directors loaned the company, a total of £4,090 (2017: |
| £16,737) and that company repaid an amount of £10,028 (£nil). The loan is interest free and repayable on |
| demand. |
| At the date of the financial statements, the company owed £24,500 (2017: £30,437) to the the related party. |
| Included within other creditors is an amount of £5,000 invoiced to a company under common control in relation |
| to fees. |