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REGISTERED NUMBER: 05657211 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WORK THE WORLD LTD

WORK THE WORLD LTD (REGISTERED NUMBER: 05657211)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WORK THE WORLD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: O F M Mohamed





REGISTERED OFFICE: 28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 05657211 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

WORK THE WORLD LTD (REGISTERED NUMBER: 05657211)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 98,762 82,550
Tangible assets 5 11,326 8,000
110,088 90,550

CURRENT ASSETS
Stocks 6 2,339 2,188
Debtors 7 1,287,813 1,488,375
Cash at bank and in hand 502,374 306,893
1,792,526 1,797,456
CREDITORS
Amounts falling due within one year 8 1,803,641 1,739,671
NET CURRENT (LIABILITIES)/ASSETS (11,115 ) 57,785
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,973

148,335

CREDITORS
Amounts falling due after more than one
year

9

(95,633

)

(145,833

)

PROVISIONS FOR LIABILITIES (2,831 ) (2,000 )
NET ASSETS 509 502

CAPITAL AND RESERVES
Called up share capital 80 100
Capital redemption reserve 11 20 -
Retained earnings 11 409 402
SHAREHOLDERS' FUNDS 509 502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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 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 Sections 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.

WORK THE WORLD LTD (REGISTERED NUMBER: 05657211)

BALANCE SHEET - continued
31 DECEMBER 2023


The 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





O F M Mohamed - Director


WORK THE WORLD LTD (REGISTERED NUMBER: 05657211)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Work The World 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.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Website is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

WORK THE WORLD LTD (REGISTERED NUMBER: 05657211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Development
costs Website Totals
£    £    £   
COST
At 1 January 2023 143,114 61,634 204,748
Additions 30,600 - 30,600
At 31 December 2023 173,714 61,634 235,348
AMORTISATION
At 1 January 2023 60,564 61,634 122,198
Amortisation for year 14,388 - 14,388
At 31 December 2023 74,952 61,634 136,586
NET BOOK VALUE
At 31 December 2023 98,762 - 98,762
At 31 December 2022 82,550 - 82,550

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 97,676
Additions 8,891
Disposals (880 )
At 31 December 2023 105,687
DEPRECIATION
At 1 January 2023 89,676
Charge for year 4,906
Eliminated on disposal (221 )
At 31 December 2023 94,361
NET BOOK VALUE
At 31 December 2023 11,326
At 31 December 2022 8,000

6. STOCKS
2023 2022
£    £   
Stocks 2,339 2,188

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,055,544 1,033,312
Other debtors 65,428 267,753
Directors' loan accounts 103,421 156,992
VAT 19,370 8,645
Prepayments 44,050 21,673
1,287,813 1,488,375

WORK THE WORLD LTD (REGISTERED NUMBER: 05657211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,100 50,000
Trade creditors 30,007 9,968
Tax 111,398 94,835
Social security and other taxes 16,848 18,624
Other creditors 12,385 7,874
Deferred income 1,578,983 1,553,793
Accrued expenses 3,920 4,577
1,803,641 1,739,671

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 50,100 50,000
Bank loans - 2-5 years 45,533 95,833
95,633 145,833

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Barclays Security Trustee Ltd 145,733 195,833

Fixed and floating charges over all property or undertaking of the company, and contains a negative pledge.

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 402 - 402
Profit for the year 387,756 387,756
Dividends (135,128 ) (135,128 )
Purchase of own shares (252,621 ) 20 (252,601 )
At 31 December 2023 409 20 429

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mrs F C Clonan
Balance outstanding at start of year 68,367 58,494
Amounts advanced 19,519 31,494
Amounts repaid (87,886 ) (21,621 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 68,367

WORK THE WORLD LTD (REGISTERED NUMBER: 05657211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

O F M Mohamed
Balance outstanding at start of year 88,625 74,167
Amounts advanced 58,796 29,832
Amounts repaid (44,000 ) (15,374 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 103,421 88,625

This balance represented the maximum amount outstanding during the year. Interest is charged on any overdrawn amounts at the beneficial loan interest rate.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is O F M Mohamed.

This was by virtue of his 100% holding of the issued share capital.