Company registration number 11713045 (England and Wales)
ALL WORLD TRANSLATIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ALL WORLD TRANSLATIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ALL WORLD TRANSLATIONS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
CURRENT ASSETS
Cash at bank and in hand
118
867
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3
(8,358)
(7,587)
NET CURRENT LIABILITIES
(8,240)
(6,720)
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss reserves
(8,241)
(6,721)
TOTAL EQUITY
(8,240)
(6,720)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 21 June 2025
Ms A Kedaviciute
Director
Company registration number 11713045 (England and Wales)
ALL WORLD TRANSLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
ACCOUNTING POLICIES
Company information
All World Translations Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Cedar House, Hazell Drive, Newport, NP10 8FY.
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 £.
1.2
Going concern
The accounts show that the company had net liabilities of £8true,240 (2023 - £6,270) at the balance sheet date. The director has therefore had to consider the appropriateness of the going concern basis.
The company has been able to finance its operations largely because of support from the director. Were this support not available, the company may not be able to continue trading.
The director is confident that the company will be able to meet its obligations for at least the next twelve months with her continued support. She therefore considers it appropriate to prepare the accounts on the going concern basis.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for translation and interpretation services, stated net of discounts.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ALL WORLD TRANSLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 3 -
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.
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.
2
EMPLOYEES
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Other creditors
8,358
7,587
4
DIRECTORS' TRANSACTIONS
Included within creditors is a balance of £6,958 (2023 - £5,125) due to the director. This balance is interest free and repayable on demand.