Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 03307834 Mr Malcolm Chalk Mr Simon Chalk Mr Simon Chalk iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03307834 2022-12-31 03307834 2023-12-31 03307834 2023-01-01 2023-12-31 03307834 frs-core:CurrentFinancialInstruments 2023-12-31 03307834 frs-core:Non-currentFinancialInstruments 2023-12-31 03307834 frs-core:PlantMachinery 2023-12-31 03307834 frs-core:PlantMachinery 2023-01-01 2023-12-31 03307834 frs-core:PlantMachinery 2022-12-31 03307834 frs-core:ShareCapital 2023-12-31 03307834 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03307834 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03307834 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 03307834 frs-bus:SmallEntities 2023-01-01 2023-12-31 03307834 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03307834 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03307834 frs-bus:Director1 2023-01-01 2023-12-31 03307834 frs-bus:Director2 2023-01-01 2023-12-31 03307834 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 03307834 frs-countries:EnglandWales 2023-01-01 2023-12-31 03307834 2021-12-31 03307834 2022-12-31 03307834 2022-01-01 2022-12-31 03307834 frs-core:CurrentFinancialInstruments 2022-12-31 03307834 frs-core:Non-currentFinancialInstruments 2022-12-31 03307834 frs-core:ShareCapital 2022-12-31 03307834 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 03307834
World Wide Shopping Mall Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Michael Fenton & Co Limited
Chartered Accountants
C/O Michael Fenton & Co Ltd 25 Church Lane
Darley Abbey
Derby
DE22 1EX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03307834
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,398 3,271
1,398 3,271
CURRENT ASSETS
Stocks 5 232,073 223,659
Debtors 6 9,666 13,777
Cash at bank and in hand 168,561 180,269
410,300 417,705
Creditors: Amounts Falling Due Within One Year 7 (183,427 ) (181,968 )
NET CURRENT ASSETS (LIABILITIES) 226,873 235,737
TOTAL ASSETS LESS CURRENT LIABILITIES 228,271 239,008
Creditors: Amounts Falling Due After More Than One Year 8 (29,905 ) (40,883 )
NET ASSETS 198,366 198,125
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 197,366 197,125
SHAREHOLDERS' FUNDS 198,366 198,125
Page 1
Page 2
For the year ending 31 December 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Malcolm Chalk
Director
22/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
World Wide Shopping Mall Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03307834 . The registered office is Hill View House, Cornborough Road, Sheriff Hutton, York, North Yorkshire, YO60 6QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 35% reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2022: 21)
21 21
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 56,147
As at 31 December 2023 56,147
Depreciation
As at 1 January 2023 52,876
Provided during the period 1,873
As at 31 December 2023 54,749
Net Book Value
As at 31 December 2023 1,398
As at 1 January 2023 3,271
5. Stocks
2023 2022
£ £
Stock 232,073 223,659
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,642 (206 )
Prepayments and accrued income 8,024 13,983
9,666 13,777
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 138,127 109,926
Bank loans and overdrafts 1,667 1,667
Corporation tax (155 ) 1,404
VAT 28,670 32,457
Accruals and deferred income 15,118 36,514
183,427 181,968
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 29,905 40,883
Page 4
Page 5
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 5