Acorah Software Products - Accounts Production 16.1.200 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 8480571 Sebastien Buhour Maria Guanziroli Stefani iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 8480571 2023-04-30 8480571 2024-04-30 8480571 2023-05-01 2024-04-30 8480571 frs-core:CurrentFinancialInstruments 2024-04-30 8480571 frs-core:Non-currentFinancialInstruments 2024-04-30 8480571 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-30 8480571 frs-core:InvestmentPropertyIncludedWithinPPE 2023-05-01 2024-04-30 8480571 frs-core:InvestmentPropertyIncludedWithinPPE 2023-04-30 8480571 frs-core:ShareCapital 2024-04-30 8480571 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 8480571 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 8480571 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 8480571 frs-bus:SmallEntities 2023-05-01 2024-04-30 8480571 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 8480571 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 8480571 frs-core:UnlistedNon-exchangeTraded 2024-04-30 8480571 frs-core:UnlistedNon-exchangeTraded 2023-04-30 8480571 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-04-30 8480571 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-04-30 8480571 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-04-30 8480571 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-04-30 8480571 frs-bus:Director1 2023-05-01 2024-04-30 8480571 frs-bus:Director2 2023-05-01 2024-04-30 8480571 frs-countries:EnglandWales 2023-05-01 2024-04-30 8480571 2022-04-30 8480571 2023-04-30 8480571 2022-05-01 2023-04-30 8480571 frs-core:CurrentFinancialInstruments 2023-04-30 8480571 frs-core:Non-currentFinancialInstruments 2023-04-30 8480571 frs-core:ShareCapital 2023-04-30 8480571 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 8480571
Worldbasics & Cos Ltd
Financial Statements
For The Year Ended 30 April 2024
Sestini & Co.
Paulton House
Old Mills
Paulton
Bristol
BS39 7SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 8480571
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 210,000
Investments 5 1,140 1,140
1,140 211,140
CURRENT ASSETS
Debtors 6 36,955 40,647
Cash at bank and in hand 63,299 1,211
100,254 41,858
Creditors: Amounts Falling Due Within One Year 7 (693,931 ) (715,534 )
NET CURRENT ASSETS (LIABILITIES) (593,677 ) (673,676 )
TOTAL ASSETS LESS CURRENT LIABILITIES (592,537 ) (462,536 )
Creditors: Amounts Falling Due After More Than One Year 8 - (115,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (14,179 )
NET LIABILITIES (592,537 ) (591,715 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (592,538 ) (591,716 )
SHAREHOLDERS' FUNDS (592,537) (591,715)
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Sebastien Buhour
Director
09/09/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Worldbasics & Cos Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 8480571 . The registered office is Paulton House, Old Mills, Paulton, Bristol, BS39 7SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors will continue to support the company.
2.3. Turnover
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 sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Financial Instruments
The entity has only entered into basic financial instruments. Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
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.
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
Page 3
Page 4
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Estimates and Judgements
The were no critical accounting estimates or judgements required in the preparation of these financial statements in the current year (2023: £210,000).
3. Average Number of Employees
Average number of employees, including directors, during the year was 2 (2023: 2)
2 2
4. Tangible Assets
Investment Properties
£
Cost
As at 1 May 2023 210,000
Disposals (210,000 )
As at 30 April 2024 -
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 210,000
5. Investments
Unlisted
£
Cost
As at 1 May 2023 1,140
As at 30 April 2024 1,140
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 1,140
As at 1 May 2023 1,140
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the
company holds 20% or more of the nominal value of any class of share capital are as follows:
Subsidiary undertaking: Hornbill Capital Ltd
Registered office: Paulton House Old Mills, Paulton, Bristol, BS39 7SX
Holding: Ordinary
Proportion of voting rights and shares held: 100% (2023 100%)
Subsidiary undertaking: Professional Share Ltd
Registered office: Paulton House Old Mills, Paulton, Bristol, BS39 7SX
Holding: Ordinary
Proportion of voting rights and shares held: 100% (2023 100%)
Subsidiary undertaking: Worldbasics Capital Ltd
Registered office Holding: Paulton House Old Mills, Paulton, Bristol, BS39 7SX
Holding: Ordinary
Proportion of voting rights and shares held: 50% (2023 50%)
The principal activity of Hornbill Capital Ltd is property rental. Its financial period end is 30 April.
The principal activity of Professional Share Ltd is property development. Its financial period end is 31 October.
The principal activity of Worldbasics Capital Ltd is development of building projects. Its financial period end is 30 April.
Page 5
Page 6
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 241
Other debtors 33,496 33,496
Amounts owed by group undertakings 3,459 6,910
36,955 40,647
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,469
Bank loans and overdrafts 20,081 30,981
Other creditors 421,740 418,324
Accruals and deferred income - 150
Amounts owed to group undertakings 252,110 264,610
693,931 715,534
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 115,000
9. Share Capital
Allotted, called up and fully paid 
50 Ordinary A Shares of £0.01 each, nominal value £0.50
50 Ordinary B Shares of £0.01 each, nominal value £0.50 
Total aggregate nominal value: £1
Prescribed particulars
Class of Shares A: 
The A Ordinary shares confer on the holders thereof the right to attend and vote and speak at any general meeting of the company and to receive notice thereof. 
Class of Shares B: 
The B Ordinary shares confer on the holders thereof the right to attend and vote and speak at any general meeting of the company and to receive notice thereof. 
The A and B shares rank pari-passu on liquidation.
Page 6
Page 7
10. Related Party Transactions
Summary of transactions with entities with joint control or significant interest
An interest free loan payable on demand has been provided by the company to an entity under common control which is not wholly owned by the company. A summary of transactions can be viewed below.
Loans to related parties
Entities with joint control or significant influence
2024
At start of period (£2,998)
Advanced £0
Write off £6,436
Repaid (£0)
At end of period £3,438
2023
At start of period £21,488
Advanced £70
Repaid (£24,556)
At end of period (£2,998)
Page 7