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REGISTERED NUMBER: 03134586 (England and Wales)
















WORLDWIDE ASSET MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






WORLDWIDE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03134586)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WORLDWIDE ASSET MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: N Halford
D Halford





SECRETARY: D Halford





REGISTERED OFFICE: 2 Lakeview Stables
Lower St Clere
Kemsing
Kent
TN15 6NL





REGISTERED NUMBER: 03134586 (England and Wales)





ACCOUNTANTS: Lakeview Southern Limited
Chartered Accountants
2 Lakeview Stables
Lower St. Clere
Kemsing
Sevenoaks
Kent
TN15 6NL

WORLDWIDE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03134586)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,008,034 13,697,073

CURRENT ASSETS
Debtors 5 72,022 64,542
Cash at bank 329,189 556,288
401,211 620,830
CREDITORS
Amounts falling due within one year 6 67,993 70,113
NET CURRENT ASSETS 333,218 550,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,341,252

14,247,790

CREDITORS
Amounts falling due after more than one year 7 (6,469,818 ) (6,479,723 )

PROVISIONS FOR LIABILITIES (2,164,072 ) (2,086,342 )
NET ASSETS 5,707,362 5,681,725

CAPITAL AND RESERVES
Called up share capital 800 800
Retained earnings 5,706,562 5,680,925
SHAREHOLDERS' FUNDS 5,707,362 5,681,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WORLDWIDE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03134586)

BALANCE SHEET - continued
31 OCTOBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2025 and were signed on its behalf by:





D Halford - Director


WORLDWIDE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03134586)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Worldwide Asset Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 25% on reducing balance, 20% on reducing balance and 10% on reducing balance
Office equipment - 25% on reducing balance

No depreciation is provided in respect of properties held for investment. This conficts with the requirements in the Companies Act 1985 that all properties should be depreciated. The Directors consider that as these properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view, and that it is necessary to adopt Statement of Standard Accounting Practice No. 19 in order to give a true a fair view.

If this departure from the Act had not been made, the loss for the financial year would have been increased by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.


Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


WORLDWIDE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03134586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Investment properties
In accordance with Statement of Standard Accounting Practice No.19, certain of the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years.
This policy represents a departure from the statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the Accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

WORLDWIDE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03134586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Investment Fixtures Office
properties & fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2023 13,681,366 108,941 5,422 13,795,729
Additions 12,500 882 - 13,382
Revaluations 300,768 - - 300,768
At 31 October 2024 13,994,634 109,823 5,422 14,109,879
DEPRECIATION
At 1 November 2023 - 94,183 4,473 98,656
Charge for year - 2,952 237 3,189
At 31 October 2024 - 97,135 4,710 101,845
NET BOOK VALUE
At 31 October 2024 13,994,634 12,688 712 14,008,034
At 31 October 2023 13,681,366 14,758 949 13,697,073

Cost or valuation at 31 October 2024 is represented by:

Investment Fixtures Office
properties & fittings equipment Totals
£    £    £    £   
Valuation in 2020 6,700,164 - - 6,700,164
Valuation in 2021 994,162 - - 994,162
Valuation in 2023 647,796 - - 647,796
Valuation in 2024 300,768 - - 300,768
Cost 5,351,744 109,823 5,422 5,466,989
13,994,634 109,823 5,422 14,109,879

If investment properties had not been revalued they would have been included at the following historical cost:

31.10.24 31.10.23
£    £   
Cost 5,351,744 5,339,244

Investment properties were valued on an open market basis on 31 October 2024 by Mr. D Halford (Director) .

WORLDWIDE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03134586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 2,216 10,841
Amounts owed by group undertakings 15,000 15,000
Other debtors 27,912 27,912
Directors' current accounts 26,894 10,789
72,022 64,542

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 9,857 10,045
Trade creditors 5,588 5,262
Other creditors 52,548 54,806
67,993 70,113

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 6,469,818 6,479,723

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank loans 6,479,675 6,489,768

The bank loans are secured on the company's investment properties.

WORLDWIDE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03134586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
D Halford
Balance outstanding at start of year 10,789 203,672
Amounts advanced 26,894 10,789
Amounts repaid (10,789 ) (203,672 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,894 10,789