Company registration number 06543880 (England and Wales)
WORLDWIDE DISTRIBUTION SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
WORLDWIDE DISTRIBUTION SERVICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WORLDWIDE DISTRIBUTION SERVICES LTD
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
830,072
399,163
Current assets
Debtors
4
751,430
570,164
Cash at bank and in hand
280,177
401,185
1,031,607
971,349
Creditors: amounts falling due within one year
5
(726,478)
(517,612)
Net current assets
305,129
453,737
Total assets less current liabilities
1,135,201
852,900
Creditors: amounts falling due after more than one year
6
(12,539)
(23,044)
Net assets
1,122,662
829,856
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
1,122,462
829,656
Total equity
1,122,662
829,856

For the financial year ended 31 July 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
Mr L Lashkhi
Mrs B Lashkhi
Director
Director
Company registration number 06543880 (England and Wales)
WORLDWIDE DISTRIBUTION SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Worldwide Distribution Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Xeinadin First Floor Secure House, Lulworth Close, Chandler's Ford, Southampton, Hampshire, England, SO53 3TL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation charge in the year
Franchise
5% on straight line
Plant and equipment
25% on reducing balance
Computer equipment
25% on reducing balance
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

WORLDWIDE DISTRIBUTION SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

1.6

Debtors

Short term debtors are measured at transaction price (which is usually 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.

1.7

Creditors

Short term creditors are measured at transaction price (which is usually invoice price). 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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
WORLDWIDE DISTRIBUTION SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Franchise
Plant and equipment
Computer equipment
Total
£
£
£
£
£
Cost
At 1 August 2023
389,246
23,500
-
0
14,648
427,394
Additions
354,657
-
0
104,584
-
0
459,241
At 31 July 2024
743,903
23,500
104,584
14,648
886,635
Depreciation and impairment
At 1 August 2023
-
0
17,625
-
0
10,606
28,231
Depreciation charged in the year
-
0
1,175
26,146
1,011
28,332
At 31 July 2024
-
0
18,800
26,146
11,617
56,563
Carrying amount
At 31 July 2024
743,903
4,700
78,438
3,031
830,072
At 31 July 2023
389,246
5,875
-
0
4,042
399,163
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
548,771
565,105
Other debtors
202,659
4,800
Prepayments and accrued income
-
0
259
751,430
570,164
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,648
44,984
Trade creditors
407,563
414,213
Corporation tax
66,039
40,559
Other taxation and social security
14,961
17,856
Other creditors
226,484
-
0
Accruals and deferred income
783
-
0
726,478
517,612
WORLDWIDE DISTRIBUTION SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,539
23,044
7
RELATED PARTY DISCLOSURES

The company was under the control of Mr L Lashkhi throughout the current and previous periods. Mr L Lashkhi is the managing director and a shareholder.

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