Trueworld Enterprises Limited 3361549 false 2023-04-06 2024-04-05 2024-04-05 The principal activity of the company is that of computer consultancy Digita Accounts Production Advanced 6.30.9574.0 true 3361549 2023-04-06 2024-04-05 3361549 2024-04-05 3361549 bus:OrdinaryShareClass1 2024-04-05 3361549 core:CurrentFinancialInstruments 2024-04-05 3361549 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 3361549 core:FurnitureFittingsToolsEquipment 2024-04-05 3361549 bus:SmallEntities 2023-04-06 2024-04-05 3361549 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 3361549 bus:FilletedAccounts 2023-04-06 2024-04-05 3361549 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 3361549 bus:RegisteredOffice 2023-04-06 2024-04-05 3361549 bus:CompanySecretaryDirector1 2023-04-06 2024-04-05 3361549 bus:OrdinaryShareClass1 2023-04-06 2024-04-05 3361549 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 3361549 core:FurnitureFittingsToolsEquipment 2023-04-06 2024-04-05 3361549 core:OfficeEquipment 2023-04-06 2024-04-05 3361549 core:OtherRelatedParties 2023-04-06 2024-04-05 3361549 countries:EnglandWales 2023-04-06 2024-04-05 3361549 2023-04-05 3361549 core:FurnitureFittingsToolsEquipment 2023-04-05 3361549 2022-04-06 2023-04-05 3361549 2023-04-05 3361549 bus:OrdinaryShareClass1 2023-04-05 3361549 core:CurrentFinancialInstruments 2023-04-05 3361549 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 3361549 core:FurnitureFittingsToolsEquipment 2023-04-05 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 3361549

Trueworld Enterprises Limited

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2024

 

Trueworld Enterprises Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Trueworld Enterprises Limited

(Registration number: 3361549)
Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,033

2,711

Current assets

 

Debtors

5

56,345

44,585

Cash at bank and in hand

 

1,812

12,997

 

58,157

57,582

Creditors: Amounts falling due within one year

6

(59,884)

(59,331)

Net current liabilities

 

(1,727)

(1,749)

Net assets

 

306

962

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

304

960

Shareholders' funds

 

306

962

For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

.........................................
Mr David Blackwell
Company secretary and director

 

Trueworld Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

These financial statements were authorised for issue by the Board on 7 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Trueworld Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Trueworld Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 6 April 2023

23,908

23,908

At 5 April 2024

23,908

23,908

Depreciation

At 6 April 2023

21,197

21,197

Charge for the year

678

678

At 5 April 2024

21,875

21,875

Carrying amount

At 5 April 2024

2,033

2,033

At 5 April 2023

2,711

2,711

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

25,061

30,560

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

23,463

9,192

Other debtors

 

7,821

4,833

 

56,345

44,585

 

Trueworld Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

56,584

56,131

Accruals and deferred income

3,300

3,200

59,884

59,331

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

2 Ordinary shares of £1 each

2

2

2

2

       

8

Related party transactions

Summary of transactions with other related parties


Directors and shareholders

D Blackwell - At the year end the amount due from the director was £12,340 (2023:£4,596) and the dividend received £67,000 (2023:£60,000).

M Blackwell - At the year end the amount due from the director was £12,339 (202:£4,596) and the dividend received £67,000 (2023:£60,000).