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COMPANY REGISTRATION NUMBER: 04254392
THE CHARLESWORTH GROUP WORLDWIDE LIMITED
FILLETED FINANCIAL STATEMENTS
31 December 2023
THE CHARLESWORTH GROUP WORLDWIDE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Pages
Balance sheet 1
Statement of change in shareholders funds 2
Notes to the financial statements 3 to 5
THE CHARLESWORTH GROUP WORLDWIDE LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
392,776
392,776
Current assets
Debtors
5
307,204
307,204
Cash at bank and in hand
16,656
16,656
------------
------------
323,860
323,860
Creditors: amounts falling due within one year
6
( 113)
( 113)
------------
------------
Net current assets
323,747
323,747
------------
------------
Total assets less current liabilities
716,523
716,523
------------
------------
Capital and reserves
Called up share capital
7
451,251
451,251
Share premium account
90,000
90,000
Profit and loss account
175,272
175,272
------------
------------
Shareholders funds
716,523
716,523
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 8 November 2024 , and are signed on behalf of the board by:
Mr S Mittal
Director
Company registration number: 04254392
THE CHARLESWORTH GROUP WORLDWIDE LIMITED
STATEMENT OF CHANGE IN SHAREHOLDERS FUNDS
YEAR ENDED 31 DECEMBER 2023
Called up share capital
Share premium account
Profit and loss account
Total
£
£
£
£
At 1 January 2022
370,000
90,000
239,867
699,867
Profit for the year
14
14
Other comprehensive income for the year:
Discount on exercise of options
( 64,609)
( 64,609)
------------
------------
------------
------------
Total comprehensive income for the year
( 64,595)
( 64,595)
Issue of shares
81,251
81,251
------------
------------
------------
------------
Total investments by and distributions to owners
81,251
81,251
At 31 December 2022
451,251
90,000
175,272
716,523
Profit for the year
------------
------------
------------
------------
At 31 December 2023
451,251
90,000
175,272
716,523
------------
------------
------------
------------
THE CHARLESWORTH GROUP WORLDWIDE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales, registration number04254392. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are stated at cost less any provisions for diminution in value.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
392,776
------------
Impairment
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
392,776
------------
At 31 December 2022
392,776
------------
The company owns 100% of the issued share capital of the companies listed below:
Charlesworth Publishing Services Limited
Charlesworth China Limited (dormant)
Baxco 1009 Limited (dormant)
Baxco 1009B Limited (dormant)
The principal activity of Charlesworth Publishing Services Limited is that of publishing and data services.
The company also owns the whole of the equity of Charlesworth Group (USA) Inc, a sales office registered in the USA.
The company also owns the whole of the equity of Charlesworth Ukraine. The carrying value of the investment is £4,896 (31 Dec 2022: £4,896)
The company also owns the whole of the equity of Charlesworth (Beijing) Information Services Co Ltd, and C-Worth Data Services (Beijing) Co Limited, both active companies registered in China and the whole of the issued share capital of Charlesworth Hong Kong Limited, a company registered in Hong Kong. The carrying value of these investments is £387,678 (31 Dec 22: £387,678). The directors have undertaken an impairment review based on earnings and cash flows of these businesses. Based on this, the directors consider that no impairment provision is required and the investments continue to be stated at cost.
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings
307,204
307,204
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
113
113
------------
------------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
451,251
451,251
451,251
451,251
------------
------------
------------
------------
8. Summary audit opinion
The auditor's report dated 8 November 2024 was unqualified .
The senior statutory auditor was David Butterworth , for and on behalf of Wheawill & Sudworth Limited .
9. Related party transactions
Included in debtors are amounts due from Charlesworth Publishing Services Limited of £307,204 (31 Dec 22: £307,204). This debt is unsecured and currently interest free. Included in creditors falling due within one year are balances owed to the 100% subsidiaries of Charlesworth Group Worldwide Limited, as follows:
31 Dec 23 31 Dec 22
£ £
Charlesworth China Limited (dormant) 100 100
Baxco 1009 Limited (dormant) 1 1
Baxco 1009B Limited (dormant) 1 1
Charlesworth Group (USA) Inc (dormant) 1 1
Charlesworth Hong Kong Limited (dormant) 10 10
10. Control
The company is a wholly owned subsidiary of Crimson Interactive Private Limited, a company incorporated in India.