Registered number
09319229
World Representation Limited
Filleted Accounts
31 March 2024
World Representation Limited
Registered number: 09319229
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 90,378 84,228
Current assets
Debtors 5 18,132 31,167
Cash at bank and in hand 46,747 113,131
64,879 144,298
Creditors: amounts falling due within one year 6 (58,839) (78,239)
Net current assets 6,040 66,059
Total assets less current liabilities 96,418 150,287
Provisions for liabilities (9,385) (9,459)
Net assets 87,033 140,828
Capital and reserves
Called up share capital 100 100
Profit and loss account 86,933 140,728
Shareholders' funds 87,033 140,828
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr F P Williams
Director
Approved by the board on 1 August 2024
World Representation Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 10 years
Plant and machinery 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 28,294
At 31 March 2024 28,294
Amortisation
At 1 April 2023 28,294
At 31 March 2024 28,294
Net book value
At 31 March 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 42,279 84,493 126,772
Additions 11,963 11,962 23,925
At 31 March 2024 54,242 96,455 150,697
Depreciation
At 1 April 2023 7,835 34,709 42,544
Charge for the year 5,426 12,349 17,775
At 31 March 2024 13,261 47,058 60,319
Net book value
At 31 March 2024 40,981 49,397 90,378
At 31 March 2023 34,444 49,784 84,228
5 Debtors 2024 2023
£ £
Trade debtors 11,202 20,545
Other debtors 6,930 10,622
18,132 31,167
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 37,900 51,810
Taxation and social security costs 12,145 13,819
Other creditors 8,794 12,610
58,839 78,239
7 Related party transactions
Rent of £9,000 (2023: £9,000) was paid to the directors Mr F P & Mrs S J Williams.
8 Other information
World Representation Limited is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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