Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30advertising agency for overseas contractstruefalse2023-10-0144falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09914306 2023-10-01 2024-09-30 09914306 2022-10-01 2023-09-30 09914306 2024-09-30 09914306 2023-09-30 09914306 c:Director1 2023-10-01 2024-09-30 09914306 c:Director5 2023-10-01 2024-09-30 09914306 d:CurrentFinancialInstruments 2024-09-30 09914306 d:CurrentFinancialInstruments 2023-09-30 09914306 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09914306 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09914306 d:ShareCapital 2024-09-30 09914306 d:ShareCapital 2023-09-30 09914306 d:RetainedEarningsAccumulatedLosses 2024-09-30 09914306 d:RetainedEarningsAccumulatedLosses 2023-09-30 09914306 c:OrdinaryShareClass1 2023-10-01 2024-09-30 09914306 c:OrdinaryShareClass1 2024-09-30 09914306 c:EntityNoLongerTradingButTradedInPast 2023-10-01 2024-09-30 09914306 c:FRS102 2023-10-01 2024-09-30 09914306 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09914306 c:FullAccounts 2023-10-01 2024-09-30 09914306 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09914306 2 2023-10-01 2024-09-30 09914306 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09914306









ISOBEL WORLDWIDE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ISOBEL WORLDWIDE LIMITED
REGISTERED NUMBER: 09914306

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,662,704
1,155,366

Cash at bank and in hand
 5 
443,226
763,879

  
2,105,930
1,919,245

Creditors: amounts falling due within one year
 6 
(1,874,927)
(1,760,507)

Net current assets
  
 
 
231,003
 
 
158,738

  

Net assets
  
231,003
158,738


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
231,002
158,737

  
231,003
158,738


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 January 2025.



P A Houlding
S J Laing
Director
Director


The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
ISOBEL WORLDWIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Isobel Worldwide Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company is an advertising agency for overseas contracts. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors note that the company is trading positively and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these financial statements.
As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income  except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 2

 
ISOBEL WORLDWIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the reporting date can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in the Statement of comprehensive income  using the effective interest method.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 3

 
ISOBEL WORLDWIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and amounts owed to and from related parties.
Financial assets that are measured at cost and amortised cost are assessed at each reporting date for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
ISOBEL WORLDWIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Debtors

2024
2023
£
£


Trade debtors
128,741
71,344

Amounts owed by group undertakings
1,533,406
1,063,406

Other debtors
557
20,616

1,662,704
1,155,366


Page 5

 
ISOBEL WORLDWIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
443,226
763,879

443,226
763,879



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
22,143
22,091

Amounts owed to group undertakings
1,266,763
1,223,119

Corporation tax
24,088
-

Other taxation and social security
54,862
-

Accruals and deferred income
507,071
515,297

1,874,927
1,760,507



7.


Share capital

2024
2023
£
£
Issued, called up and fully paid



1 Ordinary share of £1
1
1



8.


Related party transactions

The company has adopted the exemption permitted by Financial Reporting Standard 102, not to disclose any transactions with the ultimate parent company or any wholly owned subsidiary undertakings of the group.


9.


Ultimate parent company and controlling party

The ultimate parent company is Isobel Group Limited, a company incorporated in England and Wales.
There is no ultimate controlling party.

 
Page 6