REGISTERED NUMBER: 07253213 (England and Wales)

Worldwrites Holdings Ltd

Financial Statements for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Scott Paul Hoffman

REGISTERED OFFICE:

77 Station Road

Petersfield

Hampshire

GU32 3FQ

REGISTERED NUMBER:

07253213 (England and Wales)

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

The Engine House

77 Station Road

Petersfield

Hampshire

GU32 3FQ

FIXED ASSETS

Intangible assets

4

694,800

741,400

Investments

5

2,624,054

2,633,184

3,318,854

3,374,584

CURRENT ASSETS

Debtors

6

7,844

103,961

Cash at bank

69,463

59,246

77,307

163,207

CREDITORS

Amounts falling due within one year

7

(405,238

)

459,451

NET CURRENT ASSETS/(LIABILITIES)

482,545

(296,244

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,801,399

3,078,340

CAPITAL AND RESERVES

Called up share capital

260

260

Share premium

100,000

100,000

Retained earnings

3,701,139

2,978,080

3,801,399

3,078,340

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

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

The director acknowledges his 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th September 2025 and were signed by:

Scott Paul Hoffman - Director

1.	STATUTORY INFORMATION

Worldwrites Holdings Ltd 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.

Turnover

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

Turnover comprises revenue receivable by the Company in respect of royalties, advances and option fees receivable from the exploitation of intellectual property in connection with rights, titles and interest held by the Company in literary estates, exclusive of Value Added Tax.

Revenue in respect of royalties, advances and option fees receivable is recognised as and when the Company receives notification of amounts due, during the reporting period, with amounts accrued and/or deferred where applicable in accordance with the terms of the underlying contract.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life which varies from fifteen to twenty five years.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

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.

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").

The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2024

and 31st December 2024

819,000

AMORTISATION

At 1st January 2024

77,600

Charge for year

46,600

At 31st December 2024

124,200

NET BOOK VALUE

At 31st December 2024

694,800

At 31st December 2023

741,400

Those individual intangible assets which are material to the financial statements of the Company are the rights, titles and interests in literary estates held by the Company at a carrying value of £694,800 with a remaining amortisation period as at the balance sheet date ranging from 13 to 20.42 years, depending on the respective asset.

The directors are of the opinion that in respect of intangible assets held, as disclosed above, there are no significant indicators of impairment that would justify a provision towards a diminution in value to be made.

5.	FIXED ASSET INVESTMENTS

Interest

Shares in

in other

group

participating

undertakings

interests

Totals

£

£

£

COST

At 1st January 2024

2,595,714

37,470

2,633,184

Disposals

-

(3,401

)

(3,401

)

Share of profit/(loss)

-

(5,729

)

(5,729

)

At 31st December 2024

2,595,714

28,340

2,624,054

NET BOOK VALUE

At 31st December 2024

2,595,714

28,340

2,624,054

At 31st December 2023

2,595,714

37,470

2,633,184

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

7,844

15,737

Tax

-

83,127

VAT

-

3,187

7,844

102,051

Amounts falling due after more than one year:

Tax

-

1,910

Aggregate amounts

7,844

103,961

At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2022: £nil).

Amounts owed by group undertakings and joint ventures are unsecured, interest-free and repayable on demand with no fixed date for repayment.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

6,847

2,476

Amounts owed to joint ventures

48,035

46,549

Tax

118,037

119,915

Intercompany Accounts

(611,300

)

240,800

Social security and other taxes

-

20,807

VAT

2,233

-

Other creditors

11,660

12,089

Accruals and deferred income

19,250

16,815

(405,238

)

459,451

Amounts owed to group undertakings and joint ventures are unsecured, interest-free and repayable on demand with no fixed date for repayment.

8.	RELATED PARTY DISCLOSURES

The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its wholly-owned subsidiary undertakings.

At the balance sheet date, the Company was owed £151,686 (2023: £150,829) by non-wholly owned group undertakings and joint venture limited liability partnerships. Amounts owed are unsecured, do not bear interest, and are repayable on demand with no fixed date of repayment.

There were no other related party transactions and/or period end balances to report in accordance with the Companies Act 2006 and Section 1A of Financial Reporting Standard 102 as part of these financial statements.

9.	ULTIMATE CONTROLLING PARTY

The Company's immediate parent company is International Literary Properties UK Limited, a company incorporated under the UK Companies Act 2006 which holds a 100% interest in the total voting rights of the Company.

The parent undertaking of the smallest group to consolidate these financial statements is FBT Holdings LLC. FBT Holdings LLC is the Company's ultimate parent undertaking and whose registered business address is 630 9th Avenue, Suite 1101, New York, NY 10036.