2023-04-012024-03-312024-03-31false13133041Wordseed 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Wordseed Limited

Registered Number
13133041
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Wordseed Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Nicholas Ayoub
Henry Beattie

Registered Address

66 High Street
Milton-Under-Wychwood
Chipping Norton
OX7 6LE

Registered Number

13133041 (England and Wales)
Wordseed Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors3769,615609,082
Cash at bank and on hand175,054298,371
944,669907,453
Creditors amounts falling due within one year4(33,978)(53,219)
Net current assets (liabilities)910,691854,234
Total assets less current liabilities910,691854,234
Net assets910,691854,234
Capital and reserves
Called up share capital11
Profit and loss account910,690854,233
Shareholders' funds910,691854,234
The financial statements were approved and authorised for issue by the Board of Directors on 16 December 2024, and are signed on its behalf by:
Henry Beattie
Director
Registered Company No. 13133041
Wordseed Limited
Notes to the Financial Statements
for the year ended 31 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value-added taxes. Turnover includes revenue earned from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees
Staff costs are made up of recharges for Staff employed by a separate related party entity. There are no staff employed directly by the company.

20242023
Average number of employees during the year00
3.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables45,74262,732
Amounts owed by group undertakings686,821511,400
Other debtors-3,591
Prepayments and accrued income37,05231,359
Total769,615609,082
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-26,319
Bank borrowings and overdrafts173-
Taxation and social security8,185-
Accrued liabilities and deferred income25,62026,900
Total33,97853,219
5.Related party transactions
The company is a wholly-owned subsidiary and has taken advantage of the exemption available under Section 33 of FRS 102 (as permitted for small entities under Section 1A) not to disclose transactions with other wholly owned group entities. All related party transactions during the financial year were conducted within the 100% owned subsidiary group.
6.Controlling party
The ultimate controlling party of the company is Opumo Limtied (07555986), a company incorporated in England and Wales.