World Assets Ltd - Limited company - abbreviated - 11.9
World Assets Ltd - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| FOR |
| WORLD ASSETS LTD |
| WORLD ASSETS LTD (REGISTERED NUMBER: 04181771) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the year ended 31 March 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| WORLD ASSETS LTD |
| COMPANY INFORMATION |
| for the year ended 31 March 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| WORLD ASSETS LTD (REGISTERED NUMBER: 04181771) |
| ABBREVIATED BALANCE SHEET |
| 31 March 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| WORLD ASSETS LTD (REGISTERED NUMBER: 04181771) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 March 2015 |
| The financial statements were approved by the Board of Directors on by: |
| WORLD ASSETS LTD (REGISTERED NUMBER: 04181771) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the year ended 31 March 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the going concern basis as the directors are of the opinion that the company |
| will meet its liabilities as and when due. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
| 2008). |
| Turnover |
| Turnover represents rent receivable. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investment property |
| Investment properties, which comprise properties held for rental, are revalued annually and the aggregate surplus |
| or deficit transferred to the revaluation reserve except where any deficit is deemed permanent when it is taken to |
| the profit and loss account. No provision is made for depreciation of investment properties. This departure from |
| the requirements of the Regulations, which require all properties to be depreciated, is in the opinion of the |
| Directors, necessary for the Financial Statements to show a true and fair view in accordance with applicable |
| accounting standards. If this departure had not been made, the profit for the financial year would have been |
| reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified, because |
| depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise |
| have been shown cannot be separately identified or quantified. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2014 |
| and 31 March 2015 |
| DEPRECIATION |
| At 1 April 2014 |
| Charge for year |
| At 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| WORLD ASSETS LTD (REGISTERED NUMBER: 04181771) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the year ended 31 March 2015 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2014 |
| and 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments | 28,824 | 31,287 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |