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Registered Number: 01678480
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 December 2023

for

WORTHSTREAM LIMITED

You consider that the company is exempt from an audit for the year ended 31 December 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



J A Cini

Woking
GU23 6JH
17 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 461,877    437,353 
461,877    437,353 
Current assets      
Debtors   2,035 
Cash at bank and in hand 2,195    2,124 
2,195    4,159 
Creditors: amount falling due within one year (35,950)   (27,280)
Net current assets (33,755)   (23,121)
 
Total assets less current liabilities 428,122    414,232 
Creditors: amount falling due after more than one year (40,000)   (41,000)
Provisions for liabilities (33,745)   (33,745)
Net assets 354,377    339,487 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 354,375    339,485 
Shareholders' funds 354,377    339,487 
 


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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 17 September 2024 and were signed on its behalf by:


-------------------------------
N F Strickland
Director
2
General Information
Worthstream Limited is a private company, limited by shares,registered in England and Wales, registration number 01678480, registered office address 6 Birnam Close, Ripley Woking, GU23 6JH

1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings.The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover represents rents received by the company, net of Value Added Tax.
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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, 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:
Buildings 2% Straight Line
Fixtures and Fittings 10% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Buildings   Fixtures and Fittings   Total
  £   £   £
At 01 January 2023 520,000    2,764    522,764 
Additions    
Disposals    
At 31 December 2023 520,000    2,764    522,764 
Depreciation
At 01 January 2023 52,400    2,211    54,611 
Charge for year 6,000    276    6,276 
On disposals    
At 31 December 2023 58,400    2,487    60,887 
Net book values
Closing balance as at 31 December 2023 461,600    277    461,877 
Opening balance as at 01 January 2023 436,800    553    437,353 

Depreciation
Adjustment has been made to the accumulated depreciation brought forward to reflect a change in accounting estimates.

3