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Company registration number: 12646044
Asia Pacific World Holdings Limited
Unaudited filleted financial statements
30 June 2023
Asia Pacific World Holdings Limited
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 5 27,355 17,959
Cash at bank and in hand 7,935 16,092
_______ _______
35,290 34,051
Creditors: amounts falling due
within one year 6 ( 126,435) ( 91,535)
_______ _______
Net current liabilities ( 91,145) ( 57,484)
_______ _______
Net liabilities ( 91,145) ( 57,484)
_______ _______
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account ( 101,145) ( 67,484)
_______ _______
Shareholders deficit ( 91,145) ( 57,484)
_______ _______
For the year ending 30 June 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
Mr S W G Elliott
Director
Company registration number: 12646044
Asia Pacific World Holdings Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Hazelwood, Gregory Lane, Durley, Southampton, SO32 2BS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Due to the indication of continued support from the shareholders and creditors the directors believe that it is appropriate to prepare the accounts under the going concern concept.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 34,580 33,583
Social security costs - 2,542
_______ _______
34,580 36,125
_______ _______
5. Debtors
2023 2022
£ £
Trade debtors 610 820
Other debtors 26,745 17,139
_______ _______
27,355 17,959
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 126
Social security and other taxes - 627
Other creditors 126,435 90,782
_______ _______
126,435 91,535
_______ _______
7. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2023 2022 2023 2022
£ £ £ £
Grand Hotel Excelsior International Ltd ( 3,810) ( 2,995) 7,672 3,862
Slipform Engineering International (2000) Ltd ( 5,632) ( 4,033) 18,622 12,990
Swan Capital Ltd 38,335 55,261 ( 105,439) ( 67,104)
Consolidated Electric Power Asia Ltd - BVI ( 759) 2,491 ( 19,802) (20,561)
Solent Equities Ltd ( 83) ( 151) 234 151
Energy World International Ltd - ( 50) 50 50
Consolidated Electric Power Asia Ltd - UK ( 50) - 50 -
_______ _______ _______ _______
The balances due from/to connected companies are interest free and repayable on demand.
8. Controlling party
The company is controlled by Mr S W G Elliott .