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Registered number: 08921307
World One Real Estate Limited
Unaudited Financial Statements
For The Year Ended 28 March 2024
Apex Blue Limited t/a TaxAssist Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08921307
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,150,000 1,150,000
1,150,000 1,150,000
CURRENT ASSETS
Debtors 5 140,659 2,387
Cash at bank and in hand 484,416 259,845
625,075 262,232
Creditors: Amounts Falling Due Within One Year 6 (417,615 ) (319,470 )
NET CURRENT ASSETS (LIABILITIES) 207,460 (57,238 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,357,460 1,092,762
Creditors: Amounts Falling Due After More Than One Year 7 (1,086,079 ) (1,086,079 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,360 ) (25,360 )
NET ASSETS/(LIABILITIES) 246,021 (18,677 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 246,020 (18,678 )
SHAREHOLDERS' FUNDS 246,021 (18,677)
Page 1
Page 2
For the year ending 28 March 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
Mr Manoj Nair
Director
28/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
World One Real Estate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08921307 . The registered office is Garden Flat, 11 Lindfield Gardens, London, NW3 6PX.
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. 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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. 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:
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost
As at 29 March 2023 1,200,000
As at 28 March 2024 1,200,000
Depreciation
As at 29 March 2023 50,000
As at 28 March 2024 50,000
Net Book Value
As at 28 March 2024 1,150,000
As at 29 March 2023 1,150,000
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Directors' loan accounts 140,659 2,387
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Bank loans and overdrafts 89,802 -
Tax 3 3
Other creditors 251,669 251,669
Accruals and deferred income 30,873 30,873
Directors' loan accounts 45,268 36,926
417,615 319,470
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 162,224 162,224
Directors loan account 923,855 923,855
1,086,079 1,086,079
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Page 4