Public World Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07262456 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Public World Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S K Commins

Ms M E J Duboc

Mr B F Martin

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

BUSINESS ADDRESS:

90 Lofting Road

LONDON

N1 1JB

REGISTERED NUMBER:

07262456 (England and Wales)

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,246

80

1,246

80

CURRENT ASSETS

Debtors

7

51,923

37,356

Cash at bank

61,826

43,955

113,749

81,311

CREDITORS

Amounts falling due within one year

8

376,963

329,959

NET CURRENT LIABILITIES

(263,214

)

(248,648

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(261,968

)

(248,568

)

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

(266,968

)

(253,568

)

SHAREHOLDERS' FUNDS

(261,968

)

(248,568

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2022 and were signed on its behalf by:

Mr B F Martin - Director

Ms M E J Duboc - Director

Mr S K Commins - Director

1.	STATUTORY INFORMATION

Public World Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2021

and 31 March 2022

20,770

AMORTISATION

At 1 April 2021

and 31 March 2022

20,770

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

2,760

Additions

1,582

At 31 March 2022

4,342

DEPRECIATION

At 1 April 2021

2,680

Charge for year

416

At 31 March 2022

3,096

NET BOOK VALUE

At 31 March 2022

1,246

At 31 March 2021

80

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

24,113

18,858

Other debtors

27,810

18,498

51,923

37,356

Other debtors include prepayments of £27,332 (2021 - £18,498), and tax debtors of £478 (2021 - £nil).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

7,739

9,909

Taxation and social security

5,259

7,841

Other creditors

363,965

312,209

376,963

329,959

Other creditors include accrued expenses and deferred income of £996 (2021 - £8,356), and directors' loan accounts of £362,969 (2021 - £303,853).

9.	GOING CONCERN

The Company incurred a loss for the year and as at the year end has, as disclosed on the balance sheet, net liabilities. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive sufficient financial support from its shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due.