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REGISTERED NUMBER:
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"WORLD TO ME" LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018 |
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REGISTERED NUMBER:
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"WORLD TO ME" LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018 |
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"WORLD TO ME" LIMITED (REGISTERED NUMBER: SC287325) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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"WORLD TO ME" LIMITED (REGISTERED NUMBER: SC287325) |
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BALANCE SHEET |
31 JULY 2018 |
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2018 | 2017 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges her 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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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"WORLD TO ME" LIMITED (REGISTERED NUMBER: SC287325) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
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1. | STATUTORY INFORMATION |
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"World To Me" Limited is a private company, limited by shares, registered in Scotland. The registered office is 89 Seaward |
Street, Glasgow, G41 1HJ. |
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The financial statements are presented in Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of |
Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and |
the Companies Act 2006. There were no material departures from that standard. The financial statements have been |
prepared under the historical cost convention. |
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The company is dependent on the continued support of the director. If the director was to demand immediate payment of |
the amount owing, the company would be unable to comply. In these circumstances, adjustments may have to be made to |
reduce the value of the assets to their recoverable amount and to provide for any further liabilities that may arise. The |
director has indicated that repayment will not be sought of the amount owed. The director considers however, that it is still |
appropriate to prepare the financial statements on a going concern basis despite this uncertainty. |
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Tangible fixed assets |
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Computer equipment | - |
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Tangible fixed assets are included at cost less depreciation and impairment losses. |
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Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to sell. |
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Financial instruments |
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial |
instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
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Taxation |
Taxation represents the sum of tax currently payable and deferred tax. 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. |
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The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of |
certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing |
differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised |
only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from |
which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a |
non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based |
on tax rates and laws enacted or substantively enacted at the balance sheet date. |
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With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented |
either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that |
resulted in the tax expense. |
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Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - NIL). |
"WORLD TO ME" LIMITED (REGISTERED NUMBER: SC287325) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2017 |
and 31 July 2018 |
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DEPRECIATION |
At 1 August 2017 |
and 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
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6. | RELATED PARTY DISCLOSURES |
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As at 31 July 2018, there was a balance due to the director totalling £18,987 (2017: £18,111). This loan was interest free, |
unsecured and is repayable on demand. |