Company Registration No. 08815863 (England and Wales)
WORDAHOLIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
WORDAHOLIC LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WORDAHOLIC LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
508
Current assets
Cash at bank and in hand
-
0
31
Creditors: amounts falling due within one year
4
(151,315)
(136,062)
Net current liabilities
(151,315)
(136,031)
Total assets less current liabilities
(151,315)
(135,523)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(151,415)
(135,623)
Total equity
(151,315)
(135,523)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 12 February 2024
S N Jarvis
Director
Company Registration No. 08815863
WORDAHOLIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Wordaholic Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Riverine Grosvenor Drive, Maidenhead, Berkshire, United Kingdom, SL6 8PF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention and on a going concern basis, the validity of which is dependent on the support of the director. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts have been prepared on a going concern basis. This assumption may not be valid since at the balance sheet date the company has net liabilities of £151,315true (2022: £136,031). The validity of the going concern assumption therefore depends on the continued support of the directors, suppliers and the company's bankers and other providers of finance.

1.3
Turnover

Turnover represents amounts receivable for fees and royalties on intellectual properties.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

WORDAHOLIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

2
Employees

The average monthly number of person (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1

 

WORDAHOLIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2023
2,035
Disposals
(2,035)
At 31 December 2023
-
0
Depreciation and impairment
At 1 January 2023
1,527
Eliminated in respect of disposals
(1,527)
At 31 December 2023
-
0
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
508
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
149,115
134,112
Accruals and deferred income
2,200
1,950
151,315
136,062
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary "A" shares of £1 each
50
50
50
50
Ordinary "B" shares of £1 each
50
50
50
50
100
100
100
100
6
Related party transactions

As on year end date, company owed £108,898 (2022: £100,294) to the director of the company.

 

The intellectual property was transferred to the director for a consideration of £100 during the year.

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