Works Wonders Consulting Limited
|
Registered number: |
09026720
|
Balance Sheet |
as at 31 December 2018
|
|
Notes |
|
|
2018 |
|
|
2017 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
534 |
|
|
933 |
Investments |
3 |
|
|
49,000 |
|
|
49,000 |
|
|
|
|
49,534 |
|
|
49,933 |
|
Current assets |
Cash at bank and in hand |
|
|
187,036 |
|
|
255,813 |
|
Creditors: amounts falling due within one year |
4 |
|
(2,210) |
|
|
(37,070) |
|
Net current assets |
|
|
|
184,826 |
|
|
218,743 |
|
Net assets |
|
|
|
234,360 |
|
|
268,676 |
|
|
|
|
|
|
|
|
Capital and reserves |
Share premium |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
234,260 |
|
|
268,576 |
|
Shareholder's funds |
|
|
|
234,360 |
|
|
268,676 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
|
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
Mary Wloszek |
Director |
Approved by the board on 24 September 2019
|
|
Works Wonders Consulting Limited
|
Notes to the Accounts |
for the year ended 31 December 2018
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
|
|
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Fixed asset investments |
|
Investments held as fixed assets are stated at cost, together with subsequent capital contributions, less any provisions for impairment in value. Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the fixed asset investment
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
|
|
|
|
|
|
|
|
2018 |
|
2017 |
£ |
£ |
|
|
UK corporation tax |
- |
|
- |
|
Deferred tax |
- |
|
- |
|
|
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
Reconciliation of tax charge |
|
Profit on ordinary activities before tax |
- |
57,429 |
|
UK Corporation tax @ 19% (2017, 19.25%) |
- |
11,054 |
|
Effects of: |
|
Expenses not deductible for tax purposes |
- |
328 |
|
Capital allowances in excess of depreciation |
- |
|
- |
|
Income from fixed asset investment |
- |
|
- |
|
Profit allocation from fixed asset investment |
- |
|
- |
|
Utilisation of tax losses from fixed asset investment |
- |
(11,382) |
|
Under/over provision adjustments |
- |
|
- |
|
Current tax charge for the period |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
The tax charge for the year has been reduced by £Nil as a result of the utilisation of losses arising on the fixed asset investment |
|
2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 January 2018 |
1,996 |
|
At 31 December 2018 |
1,996 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2018 |
1,063 |
|
Charge for the year |
399 |
|
At 31 December 2018 |
1,462 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2018 |
534 |
|
At 31 December 2017 |
933 |
|
|
3 |
Investments |
|
Other |
investments |
£ |
|
Cost |
|
At 1 January 2018 |
49,000 |
|
|
At 31 December 2018 |
49,000 |
|
|
4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
£ |
£ |
|
|
Taxation and social security costs |
42 |
|
- |
|
Other creditors |
2,168 |
|
37,070 |
|
|
|
|
|
|
2,210 |
|
37,070 |
|
|
|
|
|
|
|
|
|
|
5 |
Contingent liabilities |
|
|
The company is a member of AD. R&D LLP and SCHIZOPHRENIA MEDICATION LLP and is liable to contribute to the assets of the LLPs' in the event of a winding-up before 1st March 2022. The maximum liability in relation to these undertakings are £144,000. The company does not believe that a winding-up of these LLPs' are probable and has not made any provision for these contingent liabilities as at 31st December 2018 . .
|
|
|
6 |
Related party transactions |
2,018 |
|
2,017 |
|
Mary Wlooszek |
£ |
£ |
|
Trading expenses of £457 (2017, £4,615) paid for the company
|
|
Amount due to the related party |
457 |
|
34,818 |
|
7 |
Controlling party |
|
|
Company is control by its director by virtue of her shareholdings.
|
|
|
8 |
Other information |
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Works Wonders Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
155 Wentworth Road |
|
Golders Green |
|
London |
|
NW11 0RJ |