Handiworld Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 05146860

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		15,759		17,543
Tangible Assets	5		1,230		2,855

			16,989		20,398
CURRENT ASSETS
Stocks	6	269,029		369,562
Debtors	7	79,375		116,563
Cash at bank and in hand		63,453		126,260

		411,857		612,385
Creditors: Amounts Falling Due Within One Year	8	(615,739 )		(620,797 )

NET CURRENT ASSETS (LIABILITIES)			(203,882 )		(8,412 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(186,893 )		11,986

Creditors: Amounts Falling Due After More Than One Year	9		(4,378 )		(14,899 )

NET LIABILITIES			(191,271 )		(2,913 )

CAPITAL AND RESERVES
Called up share capital	10		169,962		169,962
Share premium account			915,628		915,628
Profit and Loss Account			(1,276,861 )		(1,088,503 )

SHAREHOLDERS' FUNDS			(191,271)		(2,913)

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Handiworld Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Anthony Shepherd

Director

16 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Handiworld Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05146860 . The registered office is Salisbury House, London Wall, London, EC2M 5PS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors believe that notwithstanding net current liabilities of £203,882 and net liabilities of £191,271, the company's financial statements should be prepared on a going concern basis.

As detailed in the Post Balance Sheet Events note, since the balance sheet date, the company has repaid loans of £107,600 and agreed new terms for the remaining loans.

Based on budgets prepared by the directors, the directors consider that the company will have adequate future sources of funding and ongoing support from current investors to meet the company's needs for a period of at least 12 months from the date of approval of these financial statements. The financial statements do not include any adjustments that may arise from any significant changes in the assumptions used in preparing the forecasts.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets are the costs of patents. These are amortised to the profit and loss account over their estimated economic life of 10 or 20 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

3 years straight line

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Current tax for the year is recognised in profit or loss.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 3 (2023: 3)

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Handiworld Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Patents
	£
Cost
As at 1 January 2024	187,661

As at 31 December 2024	187,661

Amortisation
As at 1 January 2024	170,118
Provided during the period	1,784

As at 31 December 2024	171,902

Net Book Value
As at 31 December 2024	15,759

As at 1 January 2024	17,543

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2024	5,480

As at 31 December 2024	5,480

Depreciation
As at 1 January 2024	2,625
Provided during the period	1,625

As at 31 December 2024	4,250

Net Book Value
As at 31 December 2024	1,230

As at 1 January 2024	2,855

6. Stocks

	2024	2023
	£	£
Stock	269,029	369,562

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	33,156	95,928
Other debtors	46,219	20,635

	79,375	116,563

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Handiworld Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	170,139	181,755
Bank loans and overdrafts	10,397	10,011
Other loans	395,000	395,000
Other creditors	39,780	31,202
Taxation and social security	423	2,829

	615,739	620,797

Other loans of £200,000 are secured by a fixed and floating charge over the assets of the company.

Subsequent to the year end the charge has been satisfied.

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	4,378	14,899

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	169,962	169,962

11. Post Balance Sheet Events

In August 2025, the company repaid £107,600 of its loans and updated the terms for loans totaling £284,867.

In more detail:

The repayment of £107,600 reduced part of the company’s outstanding debt.
The company agreed to extend the repayment period for £195,000 of the loans to be fully paid off within three years.
Loans totalling £395,000 as of 31 December 2024 will no longer bear interest from 1 April 2024.
Previously held fixed and floating charges against the company’s assets were lifted, and the remaining loans are now unsecured.
The accounts include £30,241 of accrued interest as of 31 December 2024, but under the new loan terms, this interest is waived.

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