2023-09-012024-08-312024-08-31false09141444WORLD PRODUCTS 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WORLD PRODUCTS LTD

Registered Number
09141444
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

WORLD PRODUCTS LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

SHAH, Ashil
SHAH, Mauli Shaishav
SHAH, Shaishav Ramnik
WANDI, Mustafa Sam

Registered Address

9 Valley Road
Markfield
LE67 9QS

Registered Number

09141444 (England and Wales)
WORLD PRODUCTS LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-20,000
Tangible assets457,82158,141
57,82178,141
Current assets
Stocks51,101,064550,295
Debtors6710,486549,375
Cash at bank and on hand577,758286,996
2,389,3081,386,666
Creditors amounts falling due within one year7(1,873,042)(1,068,885)
Net current assets (liabilities)516,266317,781
Total assets less current liabilities574,087395,922
Creditors amounts falling due after one year8(9,167)(19,167)
Provisions for liabilities9(21,309)(14,535)
Net assets543,611362,220
Capital and reserves
Called up share capital100100
Profit and loss account543,511362,120
Shareholders' funds543,611362,220
The financial statements were approved and authorised for issue by the Board of Directors on 14 April 2025, and are signed on its behalf by:
SHAH, Ashil
Director
Registered Company No. 09141444
WORLD PRODUCTS LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
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.
Intangible assets
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years. Other intangible assets are Website costs. They are amortised to profit and loss account over their estimated economic life of 4 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings5
Fixtures and fittings7
Vehicles4
Office Equipment4
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1110
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 September 23200,00030,017230,017
At 31 August 24200,00030,017230,017
Amortisation and impairment
At 01 September 23180,00030,017210,017
Charge for year20,000-20,000
At 31 August 24200,00030,017230,017
Net book value
At 31 August 24---
At 31 August 2320,000-20,000
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 September 2353120,32054,44037,365112,656
Additions-12,003-1,05413,057
At 31 August 2453132,32354,44038,419125,713
Depreciation and impairment
At 01 September 235313,68723,36126,93654,515
Charge for year-5,8242,7704,78313,377
At 31 August 245319,51126,13131,71967,892
Net book value
At 31 August 24-22,81228,3096,70057,821
At 31 August 23-16,63331,07910,42958,141
5.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2024

2023

££
Finished goods1,101,064550,295
Total1,101,064550,295
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables686,466530,290
Other debtors11,8637,687
Prepayments and accrued income12,15711,398
Total710,486549,375
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.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,463,865814,311
Bank borrowings and overdrafts10,00010,000
Taxation and social security139,386109,854
Other creditors117,826105,416
Accrued liabilities and deferred income141,96529,304
Total1,873,0421,068,885
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.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,16719,167
Total9,16719,167
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)21,30914,535
Total21,30914,535