2022-10-212024-03-302024-03-30false14435574Worthy Earth 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Worthy Earth Ltd

Registered Number
14435574
(England and Wales)

Unaudited Financial Statements for the Period ended
30 March 2024

Worthy Earth Ltd
Company Information
for the period from 21 October 2022 to 30 March 2024

Directors

Fannon, Harrison Andrew Fredrick
Fannon, Lawrence Charles
Moir, Cody

Registered Address

12 Cranmore Cranmore Gardens
Aldershot
GU11 3BE

Registered Number

14435574 (England and Wales)
Worthy Earth Ltd
Balance Sheet as at
30 March 2024

Notes

2024

£

£

Fixed assets
Intangible assets355
Tangible assets418,333
18,388
Current assets
Debtors21,145
Cash at bank and on hand954
22,099
Creditors amounts falling due within one year5(30,965)
Net current assets (liabilities)(8,866)
Total assets less current liabilities9,522
Provisions for liabilities6(1,958)
Net assets7,564
Capital and reserves
Called up share capital30
Profit and loss account7,534
Shareholders' funds7,564
The financial statements were approved and authorised for issue by the Board of Directors on 16 October 2024, and are signed on its behalf by:
Moir, Cody
Director
Registered Company No. 14435574
Worthy Earth Ltd
Notes to the Financial Statements
for the period ended 30 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
2.Average number of employees

2024
Average number of employees during the year3
3.Intangible assets

Other

Total

££
Cost or valuation
Additions5555
At 30 March 245555
Net book value
At 30 March 245555
At 20 October 22--
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions20,00020,000
At 30 March 2420,00020,000
Depreciation and impairment
Charge for year1,6671,667
At 30 March 241,6671,667
Net book value
At 30 March 2418,33318,333
At 20 October 22--
5.Creditors: amounts due within one year

2024

£
Taxation and social security11,786
Other creditors18,379
Accrued liabilities and deferred income800
Total30,965
6.Provisions for liabilities

2024

£
Net deferred tax liability (asset)1,958
Total1,958