The Charlesworth Group Worldwide Limited Filleted accounts for Companies House (small and micro)

THE CHARLESWORTH GROUP WORLDWIDE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04254392

THE CHARLESWORTH GROUP WORLDWIDE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2021

THE CHARLESWORTH GROUP WORLDWIDE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 4

THE CHARLESWORTH GROUP WORLDWIDE LIMITED

BALANCE SHEET

31 December 2021

	2021	2020
Note	£	£

Fixed assets

Investments	4	392,776	392,776

Current assets

Debtors	5	307,204	307,204

Creditors: amounts falling due within one year	6	( 113)	( 113)
		------------	------------
Net current assets		307,091	307,091
		------------	------------
Total assets less current liabilities		699,867	699,867
		------------	------------

Capital and reserves

Called up share capital	7	370,000	370,000
Share premium account		90,000	90,000
Profit and loss account		239,867	239,867
		------------	------------
Shareholders funds		699,867	699,867
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 16 August 2022 , and are signed on behalf of the board by:

H R Thornton

Director

Company registration number: 04254392

THE CHARLESWORTH GROUP WORLDWIDE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

1. General information

The company is a private company limited by shares, registered in England and Wales, registration number 04254392 . The address of the registered office is 250 Deighton Road, Huddersfield, HD2 1JJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Investments

Fixed asset investments are stated at cost less any provisions for diminution in value.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2021 and 31 December 2021	392,776
	------------
Impairment
At 1 January 2021 and 31 December 2021	–
	------------

Carrying amount
At 31 December 2021	392,776
	------------
At 31 December 2020	392,776
	------------

The company owns 100% of the issued share capital of the companies listed below:

Charlesworth Publishing Services Limited

Charlesworth China Limited (dormant)

Baxco 1009 Limited (dormant)

Baxco 1009B Limited (dormant)

The principal activity of Charlesworth Publishing Services Limited is that of publishing and data services.

The company also owns the whole of the equity of Charlesworth Group (USA) Inc, a sales office registered in the USA.

The company also owns the whole of the equity of Charlesworth Ukraine. The carrying value of the investment is £4,896 (31 Dec 2020: £4,896)

The company also owns the whole of the equity of Charlesworth (Beijing) Information Services Co Ltd, and C-Worth Data Services (Beijing) Co Limited, both active companies registered in China and the whole of the issued share capital of Charlesworth Hong Kong Limited, a company registered in Hong Kong. The carrying value of these investments is £387,678 (31 Dec 20: £387,678). The directors have undertaken an impairment review based on earnings and cash flows of these businesses. Based on this, the directors consider that no impairment provision is required and the investments continue to be stated at cost.

5. Debtors

	2021	2020
	£	£
Amounts owed by group undertakings	307,204	307,204
	------------	------------

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Amounts owed to group undertakings	113	113
	------------	------------

7. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 1 each	370,000	370,000	370,000	370,000
	------------	------------	------------	------------

8. Related party transactions

Included in debtors are amounts due from Charlesworth Publishing Services Limited of £307,204 (31 Dec 20: £307,204). This debt is unsecured and currently interest free. Included in creditors falling due within one year are balances owed to the 100% subsidiaries of Charlesworth Group Worldwide Limited, as follows:

	31 Dec 21	31 Dec 20
	£	£
Charlesworth China Limited (dormant)	100	100
Baxco 1009 Limited (dormant)	1	1
Baxco 1009B Limited (dormant)	1	1
Charlesworth Group (USA) Inc (dormant)	1	1
Charlesworth Hong Kong Limited (dormant)	10	10

There is no one controlling party of the company.