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REGISTERED NUMBER: 04689627 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Web Of Stories Limited

Web Of Stories Limited (Registered number: 04689627)






Contents of the Financial Statements
for the year ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Web Of Stories Limited

Company Information
for the year ended 31 December 2022







DIRECTORS: V Tracz
A G Crompton





SECRETARY: A G Crompton





REGISTERED OFFICE: First Floor
Healthaid House
Marlborough Hill
Harrow
Middlesex
HA1 1UD





REGISTERED NUMBER: 04689627 (England and Wales)





ACCOUNTANTS: Grant Harrod Lerman Davis LLP
Chartered Accountants
1st Floor
Healthaid House
Marlborough Hill
Harrow
Middlesex
HA1 1UD

Web Of Stories Limited (Registered number: 04689627)

Balance Sheet
31 December 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Stocks - 18,744
Debtors 5 1,346 1,298
Cash at bank 16,176 735
17,522 20,777
CREDITORS
Amounts falling due within one year 6 356,484 150,125
NET CURRENT LIABILITIES (338,962 ) (129,348 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(338,962

)

(129,348

)

CREDITORS
Amounts falling due after more than one
year

7

4,300,000

4,300,000
NET LIABILITIES (4,638,962 ) (4,429,348 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (4,639,162 ) (4,429,548 )
SHAREHOLDERS' FUNDS (4,638,962 ) (4,429,348 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Web Of Stories Limited (Registered number: 04689627)

Balance Sheet - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 27 September 2023 and were signed on its behalf by:





A G Crompton - Director


Web Of Stories Limited (Registered number: 04689627)

Notes to the Financial Statements
for the year ended 31 December 2022

1. STATUTORY INFORMATION

Web Of Stories 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.

The financial statements have been prepared on the going concern basis which assumes that the company will be able to continue trading for the foreseeable future. The company is dependent for this on the continuing support of its shareholders and loans from connected companies. The ultimate controlling party has, without creating a contractual obligation, indicated his intention to continue providing such additional funding as may be required, through other connected companies.

The directors are therefore satisfied that the going concern basis is appropriate for the preparation of these financial statements.

Turnover
Revenue represents income recognised by the company in respect of the creation and sale of biographies of prominent scientists during the year, net of value added tax and trade discounts. Revenue is recognised in the period to which it relates.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Costs include all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date; however, 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.

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.

Pension costs and other post-retirement benefits
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed monthly contributions into a separate entity.
Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Web Of Stories Limited (Registered number: 04689627)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Preference shares
Under FRS 102, the preference shares have been shown at cost and have not been discounted at the relevant interest rate, as they are not considered to be loans and therefore there is no interest. The balance is included within liabilities greater than one year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 3,960
DEPRECIATION
At 1 January 2022
and 31 December 2022 3,960
NET BOOK VALUE
At 31 December 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 531
Other debtors 1,346 767
1,346 1,298

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors - 491
Other creditors 356,484 149,634
356,484 150,125

Other creditors includes £353,301 (2021 £146,834) owed to Mr. V. Tracz, the ultimate controlling party.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 4,300,000 4,300,000

The above relates to preference shares all of which are held by Mr. V. Tracz.

Web Of Stories Limited (Registered number: 04689627)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

8. PENSION COMMITMENTS

The company operates a defined contribution plan for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund, and amounted to £4,415 (2021 - £1,385). No contributions were payable to the fund at either balance sheet date. The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet.

9. RELATED PARTY DISCLOSURES

Connected companies referred to in these financial statements share the same ultimate controlling party, Mr. V. Tracz.

The management and operation of various connected companies is such that each company may incur expenses on behalf of other connected companies which are then recharged. At the balance sheet date the net amount due to these companies was £nil (2021 - £NIL).