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REGISTERED NUMBER: 08135950 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WORTHWHILE IDEAS LIMITED

WORTHWHILE IDEAS LIMITED (REGISTERED NUMBER: 08135950)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WORTHWHILE IDEAS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M Svoboda
Mrs K Svobodova
D Svoboda
Mrs K Krehnacova





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 08135950 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

WORTHWHILE IDEAS LIMITED (REGISTERED NUMBER: 08135950)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 24 -
Investment property 6 605,376 704,909
605,400 704,909

CURRENT ASSETS
Debtors 7 175,671 428,791
Cash at bank 190,371 35,527
366,042 464,318
CREDITORS
Amounts falling due within one year 8 10,926 59,218
NET CURRENT ASSETS 355,116 405,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

960,516

1,110,009

CAPITAL AND RESERVES
Called up share capital 101 101
Fair value reserve 9 (99,533 ) -
Retained earnings 1,059,948 1,109,908
SHAREHOLDERS' FUNDS 960,516 1,110,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





M Svoboda - Director


WORTHWHILE IDEAS LIMITED (REGISTERED NUMBER: 08135950)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Worthwhile Ideas Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable and income from financing activities.

Rental income is recognised upon receipt.

Income relating to financing activities is recognised on the accruals basis.

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 - Over 3 years

Investment properties
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Income recognition
Rental income represents income receivable from property lettings, and is recognised on an accruals basis.

Interest income represents interest receivable from loans made by the company, and is recognised on an accruals basis over the term of the loan.

Fixed asset investments
Investments in fixed assets are stated as cost less impairment. The cost of the investments is assessed for indicators of impairment at the end of each reporting period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

WORTHWHILE IDEAS LIMITED (REGISTERED NUMBER: 08135950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 4,006
DEPRECIATION
At 1 April 2023
and 31 March 2024 4,006
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 24
At 31 March 2024 24
NET BOOK VALUE
At 31 March 2024 24

Fixed asset investments are held at cost.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 704,909
Revaluations (99,533 )
At 31 March 2024 605,376
NET BOOK VALUE
At 31 March 2024 605,376
At 31 March 2023 704,909

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 (99,533 )
Cost 704,909
605,376

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 704,909 704,909

Investment property was valued on an open market basis on 31 March 2024 by the director .

WORTHWHILE IDEAS LIMITED (REGISTERED NUMBER: 08135950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans - 245,032
Other debtors 175,011 183,066
VAT - 637
Prepayments 660 56
175,671 428,791

As disclosed in note 12 debtors also include a loan of £172,100 (2023: £165,340) to a connected company. The loan is unsecured, repayable on demand and interest-free.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 5,326 31,554
Other creditors 3,000 25,014
Accrued expenses 2,600 2,650
10,926 59,218

Other creditors include deposits of £3,000 (2023: £2,000) which are unlikely to be repaid within the next 12 months.

9. RESERVES
Fair
value
reserve
£   
Reserve transfer (99,533 )

At 31 March 2024 (99,533 )

10. RELATED PARTY DISCLOSURES

During the year the company made a loan of £172,100 (2023: £165,340) to a connected company (see note 8). The loan is repayable on demand and interest-free.

11. EXCEPTIONAL ITEMS

During the year loan interest included within turnover of £44,957 (2023: £151,734) has been provided for as a doubtful debt. This was due to market conditions following Covid, Brexit and other factors and it is considered unlikely that the interest will be recovered.