Worlddream Limited
Registered number: 04925505
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 1,036,389 1,025,117
Current assets
Debtors 4 637,350 603,721
Cash at bank and in hand 1,045,033 1,114,562
1,682,383 1,718,283
Creditors: amounts falling due within one year 5 (30,563) (55,370)
Net current assets 1,651,820 1,662,913
Net assets 2,688,209 2,688,030
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 2,687,209 2,687,030
Shareholders' funds 2,688,209 2,688,030
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
GJ Ackrill
Director
Approved by the board on 1 September 2025
Worlddream Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Profit recognition
Profit on long term projects is calculated in accordance with accounting standards. In determining the attributable profit on a project to a particular accounting period, the company utilises estimation techniques. The principal estimation technique used is a forecast at the completion of both costs and revenues in conjunction with a management review for each individual project. Management have designed a decision matrix to assist with the review. Profit is recognised when the outcome of a project can be foreseen with reasonable certainty and is attributed in line with the level of risk remaining in the project.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 2 years
Fixtures and fittings over 5 years
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 January 2024 1,025,117
Additions 11,272
At 31 December 2024 1,036,389
2024 2023
£ £
Historical cost 1,036,389 1,025,117
Cumulative depreciation based on historical cost 153,138 137,936
4 Debtors 2024 2023
£ £
Trade debtors 45,000 15,000
Other debtors 592,350 588,721
637,350 603,721
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 8,206 2,640
Other creditors 22,357 52,730
30,563 55,370
6 Related party transactions
Included within other creditors are the following interest free loans:
£8,064 (2023: £6,795 ) due to a director of the company.
Included within other debtors is the following interest free loan:
£587,721 (2023: £587,721) due from Chase Commercial Limited, a company under common ownership.
7 Controlling party
GJ Ackrill is the controlling party.
8 Other information
Worlddream Limited is a private company limited by shares and incorporated in England. Its registered office is:
Greenfield House
Guiting Power
Cheltenham
Gloucestershire
GL54 5TZ
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