0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 5,077 4,096 345 4,441 636 981 xbrli:pure xbrli:shares iso4217:GBP 07652804 2023-06-01 2024-05-31 07652804 2024-05-31 07652804 2023-05-31 07652804 2022-06-01 2023-05-31 07652804 2023-05-31 07652804 2022-05-31 07652804 bus:Director1 2023-06-01 2024-05-31 07652804 core:WithinOneYear 2024-05-31 07652804 core:WithinOneYear 2023-05-31 07652804 core:ShareCapital 2024-05-31 07652804 core:ShareCapital 2023-05-31 07652804 core:RetainedEarningsAccumulatedLosses 2024-05-31 07652804 core:RetainedEarningsAccumulatedLosses 2023-05-31 07652804 bus:Director1 2023-05-31 07652804 bus:Director1 2024-05-31 07652804 bus:Director1 2022-05-31 07652804 bus:Director1 2023-05-31 07652804 bus:Director1 2022-06-01 2023-05-31 07652804 bus:SmallEntities 2023-06-01 2024-05-31 07652804 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07652804 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07652804 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07652804 bus:FullAccounts 2023-06-01 2024-05-31 07652804 core:ComputerEquipment 2023-06-01 2024-05-31 07652804 core:ComputerEquipment 2024-05-31 07652804 core:ComputerEquipment 2023-05-31
COMPANY REGISTRATION NUMBER: 07652804
World Briefing Limited
Filleted Unaudited Financial Statements
31 May 2024
World Briefing Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
636
981
Current assets
Debtors
5
446
56
Cash at bank and in hand
2,559
3,131
-------
-------
3,005
3,187
Creditors: amounts falling due within one year
6
3,483
4,042
-------
-------
Net current liabilities
478
855
----
----
Total assets less current liabilities
158
126
----
----
Net assets
158
126
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
58
26
----
----
Shareholder funds
158
126
----
----
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 statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
World Briefing Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 27 February 2025 , and are signed on behalf of the board by:
Mr C Goodman
Director
Company registration number: 07652804
World Briefing Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Wheel House, 31-37 Church Street, Reigate, Surrey, RH2 0AD.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Equipment
£
Cost
At 1 June 2023 and 31 May 2024
5,077
-------
Depreciation
At 1 June 2023
4,096
Charge for the year
345
-------
At 31 May 2024
4,441
-------
Carrying amount
At 31 May 2024
636
-------
At 31 May 2023
981
-------
5. Debtors
2024
2023
£
£
Other debtors
446
56
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
2,545
2,005
Other creditors
938
2,037
-------
-------
3,483
4,042
-------
-------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Goodman
( 1,101)
18,812
( 17,265)
446
-------
--------
--------
----
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Goodman
( 1,230)
17,447
( 17,318)
( 1,101)
-------
--------
--------
-------
All amounts are considered repayable on demand. The overdrawn balance was repaid post year end.
8. Related party transactions
The company was under the control of Mr C Goodman throughout the current and previous period. Mr C Goodman is the managing director and majority shareholder. Mr Goodman incurs business expenses on behalf of the company. A total of £446 (2023 - £1,101 owed to) was owed by Mr Goodman at the year end. This was repaid shortly after the year-end. Dividends of £10,100 (2023 - £9,000) were voted in the year. No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 1A.