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REGISTERED NUMBER: 09354231 (England and Wales)















Financial Statements

for the Year Ended 31 December 2023

for

One World Solutions (UK) Ltd

One World Solutions (UK) Ltd (Registered number: 09354231)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


One World Solutions (UK) Ltd

Company Information
for the year ended 31 December 2023







DIRECTOR: Mr A S Bhakta





REGISTERED OFFICE: One World House
Pump Lane
Hayes
Middlesex
UB3 3NB





REGISTERED NUMBER: 09354231 (England and Wales)





AUDITORS: Shaw Wallace Limited
43 Manchester Street
London
W1U 7LP

One World Solutions (UK) Ltd (Registered number: 09354231)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £
CURRENT ASSETS
Debtors 77,851 105,659
Cash at bank 1,343 21,703
79,194 127,362
CREDITORS
Amounts falling due within one year (403,081 ) (424,676 )
NET CURRENT LIABILITIES (323,887 ) (297,314 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(323,887

)

(297,314

)

CAPITAL AND RESERVES
Called up share capital 5 10,000 10,000
Retained earnings (333,887 ) (307,314 )
SHAREHOLDERS' FUNDS (323,887 ) (297,314 )

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





Mr A S Bhakta - Director


One World Solutions (UK) Ltd (Registered number: 09354231)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

One World Solutions (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 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. The financial statements have been prepared under the historical cost convention.

Abridged financial statements have been prepared in accordance with the above standard which permits an abridged profit and loss and balance sheet to be prepared.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

One World Solutions (UK) Ltd (Registered number: 09354231)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on the going concern basis despite net current liabilities of £322,628 (2022: £297,314), which the director believes to be appropriate as the ultimate parent company One World Holdings Limited has provided a letter of support stating that it and other group companies will continue to commit and support any cash funding required as necessary to ensure that they are able to meet their obligations and continue operations until at least 12 months from the date of the approval of the financial statements.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, include trade and other payables, are initially recognised at transaction prices, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If they are not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

One World Solutions (UK) Ltd (Registered number: 09354231)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both the current and future periods.

Critical judgements
In the director's view there are no significant judgements or estimates made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£
COST
At 1 January 2023
and 31 December 2023 304,100
AMORTISATION
At 1 January 2023
and 31 December 2023 304,100
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
10,000,000 Ordinary shares £0.001 10,000 10,000

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hitesh Gadhia (Senior Statutory Auditor)
for and on behalf of Shaw Wallace Limited

One World Solutions (UK) Ltd (Registered number: 09354231)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. RELATED PARTY DISCLOSURES

Sales to subsidiaries under common control totalled £136,378 (2022:£84,380) during the year. Amounts receivable from subsidiaries under common control totalled £35,711 (2022: £67,102)

Creditors falling due in less than one year include amounts owing to the director of £172,000 (2022: £200,000).

8. ULTIMATE CONTROLLING PARTY

One World Holdings Limited (incorporated in England) is regarded by the directors as being the company's ultimate controlling parent company.

The consolidated financial statements of One World Holdings Limited can be obtained from:

One World House
Pump Lane
Hayes
Middlesex
UB3 3NB