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Company Registration No. 11447810 (England and Wales)
World Tractors Limited Unaudited accounts for the year ended 31 July 2023
World Tractors Limited Unaudited accounts Contents
Page
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World Tractors Limited Company Information for the year ended 31 July 2023
Director
Sam Morgan
Company Number
11447810 (England and Wales)
Registered Office
76 Glebe Lane Barming Maidstone Kent ME16 9BD United Kingdom
Accountants
Bowyer Pounds & Co 76 Glebe Lane Barming Maidstone Kent ME16 9BD
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World Tractors Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
108,391 
168,047 
Current assets
Inventories
1,417,991 
591,373 
Debtors
379,440 
109,885 
Cash at bank and in hand
143,555 
358,017 
1,940,986 
1,059,275 
Creditors: amounts falling due within one year
(411,541)
(183,415)
Net current assets
1,529,445 
875,860 
Total assets less current liabilities
1,637,836 
1,043,907 
Creditors: amounts falling due after more than one year
(22,370)
(32,346)
Provisions for liabilities
Deferred tax
(20,233)
(31,489)
Net assets
1,595,233 
980,072 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
1,595,033 
979,872 
Shareholders' funds
1,595,233 
980,072 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 December 2023 and were signed on its behalf by
Sam Morgan Director Company Registration No. 11447810
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World Tractors Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
World Tractors Limited is a private company, limited by shares, registered in England and Wales, registration number 11447810. The registered office is 76 Glebe Lane, Barming, Maidstone, Kent, ME16 9BD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance basis
Motor vehicles
25% reducing balance basis
Computer equipment
33% straight line basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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World Tractors Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
178,882 
39,617 
1,457 
219,956 
Additions
85,896 
- 
1,025 
86,921 
Disposals
(136,200)
- 
- 
(136,200)
At 31 July 2023
128,578 
39,617 
2,482 
170,677 
Depreciation
At 1 August 2022
24,767 
27,082 
60 
51,909 
Charge for the year
22,900 
3,134 
818 
26,852 
On disposals
(16,475)
- 
- 
(16,475)
At 31 July 2023
31,192 
30,216 
878 
62,286 
Net book value
At 31 July 2023
97,386 
9,401 
1,604 
108,391 
At 31 July 2022
154,115 
12,535 
1,397 
168,047 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
220,108 
109,885 
Other debtors
159,332 
- 
379,440 
109,885 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
9,976 
9,730 
Trade creditors
163,619 
90,000 
Taxes and social security
184,905 
9,545 
Loans from directors
50,556 
72,125 
Accruals
2,485 
2,015 
411,541 
183,415 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,370 
32,346 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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