World Class Industries Limited 04368616 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Supply Chain Management Digita Accounts Production Advanced 6.30.9574.0 true true true 04368616 2024-04-01 2025-03-31 04368616 2025-03-31 04368616 core:RetainedEarningsAccumulatedLosses 2025-03-31 04368616 core:ShareCapital 2025-03-31 04368616 core:CurrentFinancialInstruments 2025-03-31 04368616 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 04368616 bus:SmallEntities 2024-04-01 2025-03-31 04368616 bus:Audited 2024-04-01 2025-03-31 04368616 bus:FilletedAccounts 2024-04-01 2025-03-31 04368616 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04368616 bus:RegisteredOffice 2024-04-01 2025-03-31 04368616 bus:Director1 2024-04-01 2025-03-31 04368616 bus:Director5 2024-04-01 2025-03-31 04368616 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04368616 1 2024-04-01 2025-03-31 04368616 countries:UnitedKingdom 2024-04-01 2025-03-31 04368616 2023-04-01 2024-03-31 04368616 2024-03-31 04368616 core:RetainedEarningsAccumulatedLosses 2024-03-31 04368616 core:ShareCapital 2024-03-31 04368616 core:CurrentFinancialInstruments 2024-03-31 04368616 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 04368616

World Class Industries Limited

Filleted Financial Statements

for the Year Ended 31 March 2025

 

World Class Industries Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

World Class Industries Limited

Company Information

Directors

Mr B R Cobb

Mr P A Patterson

Registered office

c/o MFG Solicitors
Tyrhe House
20/21 The Tything
Worcester
WR1 1HD

Auditors

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

World Class Industries Limited

(Registration number: 04368616)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Current assets

 

Debtors

4

948

882

Cash at bank and in hand

 

52,267

49,963

 

53,215

50,845

Creditors: Amounts falling due within one year

5

(7,816)

(6,791)

Net assets

 

45,399

44,054

Capital and reserves

 

Called up share capital

100

100

Retained earnings

45,299

43,954

Shareholders' funds

 

45,399

44,054

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 

.........................................
Mr B R Cobb
Director

   
     
 

World Class Industries Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
c/o MFG Solicitors
Tyrhe House
20/21 The Tything
Worcester
WR1 1HD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 9 June 2025 was Mark Skellum FCA, who signed for and on behalf of Ballards LLP.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the value of the management charges received or receivable for provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

World Class Industries Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

World Class Industries Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4

Debtors

Current

2025
£

2024
£

Prepayments

948

882

 

948

882

5

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

2,754

2,495

Accruals and deferred income

5,062

4,296

7,816

6,791

6

Parent and ultimate parent undertaking

The company's immediate parent is World Class Industires, Inc, incorporated in USA.

  These financial statements are available upon request from World Class Industries, Inc.
925 North 15th Avenue
Hiawatha, IA 52233