Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01No description of principal activity1717falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02735488 2023-01-01 2023-12-31 02735488 2022-01-01 2022-12-31 02735488 2023-12-31 02735488 2022-12-31 02735488 1 2023-01-01 2023-12-31 02735488 d:Director1 2023-01-01 2023-12-31 02735488 d:Director3 2023-01-01 2023-12-31 02735488 c:Buildings 2023-01-01 2023-12-31 02735488 c:Buildings 2023-12-31 02735488 c:Buildings 2022-12-31 02735488 c:Buildings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02735488 c:Buildings c:ShortLeaseholdAssets 2023-01-01 2023-12-31 02735488 c:OfficeEquipment 2023-01-01 2023-12-31 02735488 c:ComputerEquipment 2023-01-01 2023-12-31 02735488 c:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02735488 c:OtherPropertyPlantEquipment 2023-12-31 02735488 c:OtherPropertyPlantEquipment 2022-12-31 02735488 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02735488 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02735488 c:CurrentFinancialInstruments 2023-12-31 02735488 c:CurrentFinancialInstruments 2022-12-31 02735488 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 02735488 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 02735488 c:ShareCapital 2023-12-31 02735488 c:ShareCapital 2022-12-31 02735488 c:SharePremium 2023-12-31 02735488 c:SharePremium 2022-12-31 02735488 c:RetainedEarningsAccumulatedLosses 2023-12-31 02735488 c:RetainedEarningsAccumulatedLosses 2022-12-31 02735488 d:FRS102 2023-01-01 2023-12-31 02735488 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02735488 d:FullAccounts 2023-01-01 2023-12-31 02735488 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02735488 c:WithinOneYear 2023-12-31 02735488 c:WithinOneYear 2022-12-31 02735488 c:BetweenOneFiveYears 2023-12-31 02735488 c:BetweenOneFiveYears 2022-12-31 02735488 2 2023-01-01 2023-12-31 02735488 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

02735488







WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2023

































WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED
REGISTERED NUMBER:02735488

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
14,082
19,039

Current assets
  

Debtors: amounts falling due within one year
 6 
113,006
123,238

Bank and cash balances
  
241,471
193,505

  
354,477
316,743

Creditors: amounts falling due within one year
 7 
(280,147)
(249,279)

Net current assets
  
 
 
74,330
 
 
67,464

Total assets less current liabilities
  
88,412
86,503

Provisions for liabilities
  

Deferred tax
  
-
(3,267)

  
 
 
-
 
 
(3,267)

Net assets
  
88,412
83,236


Capital and reserves
  

Called up share capital 
  
5,004
5,004

Share premium account
  
154,996
154,996

Profit and loss account
  
(71,588)
(76,764)

  
88,412
83,236


Page 1

WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED
REGISTERED NUMBER:02735488
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




K. R. T. Bonner-Williams
J. B. Bonner-Williams
Director
Director


Date: 11 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

World-Wide Travel Insurance Services Limited (the 'company') is a private company limited by shares domiciled and incorporated in England and Wales. 
The address of the company's registered office is Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS. 
The company's principal place of business is Business Centre, 1-7 Commercial Road, Paddock Wood, Tonbridge, Kent, TN12 6YT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated. 

The following principal accounting policies have been applied:

 
2.2

Going concern

Having taken into account all available information about the company's trading prospects and cash flow requirements for 12 months from the date of approval of the financial statements, the directors consider that the company is a going concern, based on their ongoing commitment to support and finance the business.
On 05 June 2024 the Company issued additional shares to two existing shareholders to raise additional capital for use in the business. The total amount of capital raised from this was £20,000.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Specifically, retail insurance premiums are recognised when the premium is due from the policyholder, typically this is on receipt of payment. Commissions income, which is received periodically, is recognised when the amount can be measured with reasonable certainty, which is typically the earlier of confirmation of the amount with the relevent provider, or receipt of cash. 

 
2.4

 Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

Depreciation is provided on the following basis:

Leasehold improvements
-
33%
straight line
Office equipment
-
20%
reducing balance
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

 Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 

Page 5

WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Other operating income

2023
2022
£
£

Other operating income
-
1,736

Commissions receivable
94,078
90,813

94,078
92,549



4.


Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 17).


5.


Tangible fixed assets





Leasehold improvements
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 January 2023
4,763
216,253
221,016


Additions
-
2,356
2,356



At 31 December 2023

4,763
218,609
223,372



Depreciation


At 1 January 2023
4,763
197,214
201,977


Charge for the year on owned assets
-
7,313
7,313



At 31 December 2023

4,763
204,527
209,290



Net book value



At 31 December 2023
-
14,082
14,082



At 31 December 2022
-
19,039
19,039

Page 6

WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
6,061
14,679

Other debtors
2,199
2,425

Prepayments and accrued income
16,285
16,092

Tax recoverable
88,461
90,042

113,006
123,238



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
162,324
132,007

Other taxation and social security
8,667
7,437

Other creditors
88,447
99,922

Accruals and deferred income
20,709
9,913

280,147
249,279



8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
34,498
45,997

Later than 1 year and not later than 5 years
-
34,498

34,498
80,495


9.


Transactions with directors

At the balance sheet date, one director was owed £52,488 by the company (2022: £62,080), which is included in creditors due within one year. During the year, advances were made to this director totalling £9,593 (2022: £25,000) and repayments were made by the directors totalling £NIL (2022: £374,529). The loan is interest free and repayable on demand. 
Another director was advanced £15,480 (2022: £NIL) during the year and repayments were made by teh director totalling £15,480 (2022: NIL). The balances owed by the director at the balance sheet date was £NIL (2022: NIL) and the loan was interest free and repayable on demand.

Page 7

WORLD-WIDE TRAVEL INSURANCE SERVICES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Post balance sheet events

On 05 June 2024 the Company issued additional shares to two existing shareholders to raise additional capital for use in the business. The total amount of capital raised from this was £20,000.

 
Page 8