Prospect Works Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00872680 (England and Wales)

Unaudited Cessation Financial Statements

for the Year Ended 31st December 2018

for

Prospect Works Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

E Buckley

P E Buckley

SECRETARY:

E Buckley

REGISTERED OFFICE:

Sweetings

Shore Road

Burnham On Crouch

CM0 8AR

REGISTERED NUMBER:

00872680 (England and Wales)

ACCOUNTANTS:

Thickbroom Coventry Limited

Chartered Accountants

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Prospect Works Limited for the year ended

31st December 2018 which comprise the Statement of Income and Retained Earnings, Balance

Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Prospect Works Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Prospect Works Limited. You consider that Prospect Works 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 financial statements of Prospect Works 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 financial statements.

Thickbroom Coventry Limited

Chartered Accountants

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

25th April 2019

CURRENT ASSETS

Debtors

3

4,501

32,486

Cash at bank

59,641

82,833

64,142

115,319

CREDITORS

Amounts falling due within one year

4

39,345

63,867

NET CURRENT ASSETS

24,797

51,452

TOTAL ASSETS LESS CURRENT LIABILITIES

24,797

51,452

CAPITAL AND RESERVES

Called up share capital

5

13,612

13,612

Retained earnings

11,185

37,840

SHAREHOLDERS' FUNDS

24,797

51,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 25th April 2019 and were signed on its behalf by:

E Buckley - Director

1.	STATUTORY INFORMATION

Prospect Works Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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.

Current or deferred 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 balance sheet date.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

15,561

Other debtors

4,501

16,925

4,501

32,486

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

39,345

63,867

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

13,612

Ordinary

£1

13,612

13,612

6.	RELATED PARTY DISCLOSURES

At the balance sheet date, £32,725 (2017: £ 37,741) is due to E Buckley, a director of the

company. The balance is respect of an interest free loan.