2023-01-01 05498277 2023-12-31 05498277 2023-01-01 2023-12-31 05498277 2022-12-31 05498277 2022-01-01 2022-12-31 05498277 uk-core:WithinOneYear 2022-12-31 05498277 uk-core:WithinOneYear 2023-12-31 05498277 uk-core:ShareCapital 2023-12-31 05498277 uk-core:ShareCapital 2022-12-31 05498277 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 05498277 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 05498277 uk-bus:Director1 2023-01-01 2023-12-31 05498277 uk-core:Buildings 2023-01-01 2023-12-31 05498277 uk-core:PlantMachinery 2023-01-01 2023-12-31 05498277 uk-core:ComputerEquipment 2023-01-01 2023-12-31 05498277 uk-core:MotorVehicles 2023-01-01 2023-12-31 05498277 uk-core:FurnitureFittings 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure 05498277 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05498277 uk-bus:FRS102 2023-01-01 2023-12-31 05498277 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 05498277 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Word360 Ltd
Registered Number:05498277
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Word360 Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
05498277
As at 31 December 2023
Word360 Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Current assets
Inventories
-
18,533
3
Trade and other receivables
1,200,916
1,909,544
4
3,550,986
Cash and cash equivalents
4,823,286
6,751,363
4,751,902
Trade and other payables: amounts falling due within one
year
(1,179,937)
(1,507,664)
5
3,571,965
5,243,699
Net current assets
Total assets less current liabilities
5,243,699
3,571,965
5,243,699
Net assets
3,571,965
Capital and reserves
Called up share capital
100
100
Retained earnings
5,243,599
3,571,865
5,243,699
3,571,965
Shareholders' funds
For the year ended 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 of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Tiku Chauhan Director
These financial statements were approved and authorised for issue by the Board on 18 March 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2023
Word360 Ltd
Notes to the Financial Statements
Statutory Information
Word360 Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
05498277.
Registered address:
Unit 6, The Cloisters
11-12 George Road
Edgbaston
West Midlands
B15 1NP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
2 Per annum on cost
Plant and Machinery
15 per annum on cost
33 per annum on cost
Computer Equipment
25 per annum on cost
Motor Vehicles
15 per annum on cost
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 31 December 2023
Word360 Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Furniture and
Fittings
£
Cost or
valuation
At 01 January 2023
8,560
Disposals
(8,560)
At 31 December 2023
-
Provision for depreciation and impairment
At 01 January 2023
8,560
(8,560)
On disposal
At 31 December 2023
-
At 31 December 2023
Net book value
-
At 31 December 2022
-
3. Inventories
2022
2023
£
£
Stocks
18,533
-
4. Trade and other receivables
2022
2023
£
£
Trade debtors
1,909,544
1,200,916
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
504,124
539,390
Taxation and social security
953,863
608,313
Other creditors
49,677
32,234
1,507,664
1,179,937
6. Average number of persons employed
During the year the average number of employees was 37 (2022 : 29)
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