WORLD WIDE CONSULTANCY LIMITED


Directors	STRUTHERS, Colin Andrew
	STRUTHERS, Elizabeth


Registered Address	Unit C
	York Road Industrial Estate
	Wetherby
	LS22 7SU


Registered Number	10912807 (England and Wales)

Notes to the Financial Statements
for the period ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The directors recognise and have considered the company remains a going concern.

	Turnover policy
	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 rendering of services. 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.

Turnover policy

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 rendering of services.

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.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

Operating leases

Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	5
Vehicles	25	-
Office Equipment	-	3

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

	Trade and other 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.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	3		5

3.	Tangible fixed assets

	Land & buildings	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 September 23	27,759	32,480	6,331	66,570
Disposals	-	(32,480)	-	(32,480)
At 31 December 24	27,759	-	6,331	34,090
Depreciation and impairment
At 01 September 23	27,759	8,120	6,304	42,183
Charge for year	-	-	27	27
On disposals	-	(8,120)	-	(8,120)
At 31 December 24	27,759	-	6,331	34,090
Net book value
At 31 December 24	-	-	-	-
At 31 August 23	-	24,360	27	24,387

4.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 September 23	13,431	13,431
Additions	8,000	8,000
Disposals	(12,000)	(12,000)
At 31 December 24	9,431	9,431
Net book value
At 31 December 24	9,431	9,431
At 31 August 23	13,431	13,431

	Notes
	¹Other investments other than loans

5.	Stocks

	2024	2023
	£	£
Finished goods	24,000	41,000
Total	24,000	41,000

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Bank borrowings and overdrafts	10,000	10,000
Taxation and social security	39,971	38,915
Finance lease and HP contracts	-	8,842
Other creditors	797	1,393
Accrued liabilities and deferred income	6,150	8,531
Total	56,918	67,681

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	9,167	17,500
Other creditors	-	9,589
Total	9,167	27,089


	The hire purchase liability was secured by a charge on the asset.

8.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	-		18,430

9.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made. The provision for deferred tax at 31 August 2023 arose from accelerated capital allowances.

	2024	2023
	£	£
Net deferred tax liability (asset)	-	4,633
Total	-	4,633

10.	Operating lease commitments
	At 31 December 2024 the company had future minimum lease payments under non-cancellable operating leases due within 1 year of £8,316 (2023 £8,316) and due after more than 1 year of £2,772 (2023 £13,860).

11.	Directors advances, credits and guarantees
	On 1 September 2023 the company owed the Directors £666. During the period the Directors repaid £101,652 and extracted a further £102,138. At 31 December 2024 the company owed the Directors £180. No interest was charged on this loan and the loan is repayable on demand.

	Notes	31 Dec 2024		31 Aug 2023
		£	£	£	£
Fixed assets
Tangible assets	3		-		24,387
Investments	4		9,431		13,431
			9,431		37,818
Current assets
Stocks	5	24,000		41,000
Cash at bank and on hand		32,771		22,036
		56,771		63,036
Creditors amounts falling due within one year	6	(56,918)		(67,681)
Net current assets (liabilities)			(147)		(4,645)
Total assets less current liabilities			9,284		33,173
Creditors amounts falling due after one year	7		(9,167)		(27,089)
Provisions for liabilities	9		-		(4,633)
Net assets			117		1,451
Capital and reserves
Called up share capital			100		100
Profit and loss account			17		1,351
Shareholders' funds			117		1,451