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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2018 |
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THEFULLWORKS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2018 |
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FOR |
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THEFULLWORKS LIMITED |
THEFULLWORKS LIMITED (REGISTERED NUMBER: 09392592) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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THEFULLWORKS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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4 Mount Ephraim Road |
Tunbridge Wells |
Kent |
TN1 1EE |
THEFULLWORKS LIMITED (REGISTERED NUMBER: 09392592) |
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BALANCE SHEET |
31 JANUARY 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium | 10 |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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THEFULLWORKS LIMITED (REGISTERED NUMBER: 09392592) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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1. | STATUTORY INFORMATION |
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Thefullworks Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the |
financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The |
directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. |
The directors believe this to be the case based upon current expectations and the fact there are no significant long term |
liabilities. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
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Turnover 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 turnover 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. |
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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. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and |
liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related |
parties and investments in non-puttable ordinary shares. |
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Taxation |
Taxation for the year comprises current and deferred 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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THEFULLWORKS LIMITED (REGISTERED NUMBER: 09392592) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been |
enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet |
date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as |
permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
- the requirements of Section 7 Statement of Cash Flows; |
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d); |
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A; |
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29; |
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23; |
- the requirements of Section 33 Related Party Disclosures paragraph 33.7. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 February 2017 |
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Additions |
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At 31 January 2018 |
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AMORTISATION |
At 1 February 2017 |
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Charge for year |
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At 31 January 2018 |
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NET BOOK VALUE |
At 31 January 2018 |
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At 31 January 2017 |
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THEFULLWORKS LIMITED (REGISTERED NUMBER: 09392592) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 February 2017 |
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Additions |
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At 31 January 2018 |
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DEPRECIATION |
At 1 February 2017 |
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Charge for year |
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At 31 January 2018 |
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NET BOOK VALUE |
At 31 January 2018 |
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At 31 January 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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VAT | 1,313 | 2,793 |
Other creditors |
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Directors' loan accounts | 409 | 22,857 |
Accrued expenses |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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THEFULLWORKS LIMITED (REGISTERED NUMBER: 09392592) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
Value: | £ | £ |
100 | Ordinary | £1 | - | 100 |
18,216,007 | A Ordinary | 0.001p | 182 | - |
515,472 | B Investment | 0.001p | 5 | - |
187 | 100 |
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On 29 June 2017, the Ordinary shares were sub-divided from a nominal value of £1 to £0.01. On the same day 5,716 |
Ordinary shares of £0.01 were issued at a premium of £12.24 per share. |
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On 4 August 2017, the Ordinary shares of £0.01 each were redesignated as A Ordinary shares of £0.001p. On the same |
date 2,500,007 A Ordinary shares were issued issued at a premium of £0.045p and 515,472 B Investment shares were |
issued at a premium of £0.045p. |
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10. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 February 2017 | ( |
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(66,637 | ) |
Deficit for the year | ( |
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Share issue | - | 208,633 | 208,633 |
At 31 January 2018 | ( |
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75,169 |
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11. | ULTIMATE CONTROLLING PARTY |
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The directors consider there to be no ultimate controlling party. |