CORPORATE_WORKSPACE_LIMIT - Accounts

CORPORATE WORKSPACE LIMITED - Company Information

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Company Registration No. 04319601 (England and Wales)

CORPORATE WORKSPACE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

CORPORATE WORKSPACE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

CORPORATE WORKSPACE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

9,826

10,499

Investments

100

9,926

10,599

Current assets

Stocks

51,011

125,085

Debtors

511,390

364,341

Cash at bank and in hand

351,025

44,089

913,426

533,515

Creditors: amounts falling due within one year

(763,488)

(414,473)

Net current assets

149,938

119,042

Total assets less current liabilities

159,864

129,641

Creditors: amounts falling due after more than one year

(10,089)

Provisions for liabilities

(1,688)

158,176

119,552

Capital and reserves

Called up share capital

100,012

Share premium account

4,999

Profit and loss account

53,165

14,541

Shareholders' funds

158,176

119,552

CORPORATE WORKSPACE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 2 -

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 11 June 2015

S D Thrussell

Director

Company Registration No. 04319601

CORPORATE WORKSPACE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Income Recognition:

With regard to commission only services income is recognised when the work is contractually complete.

With regard to contracts for the supply of services and goods the outcome of the transaction is estimated reliably and the income is recognised with reference to the stage of completion of the transaction. If the outcome of the transaction cannot be reliably estimated the income is not recognised until the fulfilment of the contract.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33.33% straight line

Fixtures, fittings & equipment

20% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.10

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

CORPORATE WORKSPACE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2014

89,664

100

89,764

Additions

2,388

At 31 December 2014

92,052

100

92,152

Depreciation

At 1 January 2014

79,165

Charge for the year

3,061

At 31 December 2014

82,226

Net book value

At 31 December 2014

9,826

100

9,926

At 31 December 2013

10,499

100

10,599

Share capital

2014

2013

Allotted, called up and fully paid

12 Ordinary shares of £1 each

100,000 Preference shares of £1 each

100,000

100,012