Registered number
13320181
Worldwide Experts Ltd
Filleted Accounts
30 April 2024
Worldwide Experts Ltd
Registered number: 13320181
Directors' Report
The directors present their report and accounts for the year ended 30 April 2024.
Principal activities
The company's principal activity during the year was that of Educational support services.
Directors
The following persons served as directors during the year:
Mr Moses Nalocca
Miss Totka Spasova
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 8 April 2025 and signed on its behalf.
Mr Moses Nalocca
Director
Worldwide Experts Ltd
Registered number: 13320181
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 680,000 850,000
Tangible assets 4 1,770 2,212
681,770 852,212
Current assets
Debtors 5 (2,027) 1,534
Cash at bank and in hand (2,553) 15,643
(4,580) 17,177
Creditors: amounts falling due within one year 6 (36,112) (22,837)
Net current liabilities (40,692) (5,660)
Total assets less current liabilities 641,078 846,552
Creditors: amounts falling due after more than one year 7 (2,500) (2,500)
Net assets 638,578 844,052
Capital and reserves
Called up share capital 2 2
Revaluation reserve 8 850,000 850,000
Profit and loss account (211,424) (5,950)
Shareholders' funds 638,578 844,052
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Moses Nalocca
Director
Approved by the board on 8 April 2025
Worldwide Experts Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 850,000
At 30 April 2024 850,000
Amortisation
Provided during the year 170,000
At 30 April 2024 170,000
Net book value
At 30 April 2024 680,000
At 30 April 2023 850,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 2,765
At 30 April 2024 2,765
Depreciation
At 1 May 2023 553
Charge for the year 442
At 30 April 2024 995
Net book value
At 30 April 2024 1,770
At 30 April 2023 2,212
5 Debtors 2024 2023
£ £
Trade debtors (2,027) 1,534
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 4,706
Trade creditors - 2,335
Taxation and social security costs 4,716 8,672
Other creditors 41,351 40,195
Director's Loan Account (9,955) (33,071)
36,112 22,837
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 2,500 2,500
8 Revaluation reserve 2024 2023
£ £
9
At 1 May 2023 850,000 850,000
At 30 April 2024 850,000 850,000
10 Other information
Worldwide Experts Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Cow Leaze
London
England
E6 6WX
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