WORLDBAY LIMITED Small abridged accounts

false false false false false false false false false true false false false false false false false No description of principal activity 2016-01-01 Sage Accounts Production Advanced 2017 Update 2 - FRS xbrli:pure xbrli:shares iso4217:GBP 01743701 2016-01-01 2016-12-31 01743701 2016-12-31 01743701 2015-12-31 01743701 bus:LeadAgentIfApplicable 2016-01-01 2016-12-31 01743701 bus:Director1 2016-01-01 2016-12-31 01743701 core:WithinOneYear 2016-12-31 01743701 core:WithinOneYear 2015-12-31 01743701 core:ShareCapital 2016-12-31 01743701 core:ShareCapital 2015-12-31 01743701 core:RetainedEarningsAccumulatedLosses 2016-12-31 01743701 core:RetainedEarningsAccumulatedLosses 2015-12-31 01743701 bus:Director1 2015-12-31 01743701 bus:Director1 2016-12-31 01743701 bus:Director1 2014-12-31 01743701 bus:Director1 2015-12-31 01743701 bus:FRS102 2016-01-01 2016-12-31 01743701 bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 01743701 bus:AbridgedAccounts 2016-01-01 2016-12-31 01743701 bus:SmallCompaniesRegimeForAccounts 2016-01-01 2016-12-31 01743701 bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 01743701 core:AllAssociates 2016-01-01 2016-12-31

Statement of Consent to Prepare Abridged Financial Statements

All of the members of WORLDBAY LIMITED have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 01743701

WORLDBAY LIMITED

Filleted Unaudited Abridged Financial Statements

31 December 2016

WORLDBAY LIMITED

Abridged Financial Statements

Year ended 31 December 2016

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

The following pages do not form part of the abridged financial statements

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements	7

WORLDBAY LIMITED

Abridged Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Current assets

Stocks	2	2
Debtors	320,550	313,845
Cash at bank and in hand	106,712	103,679
	---------	---------
	427,264	417,526

Creditors: amounts falling due within one year	25,053		25,796
	---------		---------
Net current assets		402,211	391,730
		---------	---------
Total assets less current liabilities		402,211	391,730
		---------	---------
Net assets		402,211	391,730
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	402,111	391,630
	---------	---------
Members funds	402,211	391,730
	---------	---------

These abridged 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 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 abridged income statement has not been delivered.

For the year ending 31 December 2016 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 abridged 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 abridged financial statements .

WORLDBAY LIMITED

Abridged Statement of Financial Position (continued)

31 December 2016

These abridged financial statements were approved by the board of directors and authorised for issue on 1 September 2017 , and are signed on behalf of the board by:

Mr M D Kaye

Director

Company registration number: 01743701

WORLDBAY LIMITED

Notes to the Abridged Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, I Hallswlle Road, London, NW11 0DH.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Stocks

Stocks have previously been written down significantly to a negligible value.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2016
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr M D Kaye	( 123)	( 291)	( 414)
	----	----	----

	2015
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr M D Kaye	( 123)	–	( 123)
	----	----	----

5. Related party transactions

Included within debtors is an amount due from associated companies, Femmhalf Limited and Monocastle Limited and are listed below:

	2016	2015
	£	£
Femmhalf Limited	153,335	149,736
Monocastle Limited	73,008	71,680

6. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.

WORLDBAY LIMITED

Management Information

Year ended 31 December 2016

The following pages do not form part of the abridged financial statements.

WORLDBAY LIMITED

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of WORLDBAY LIMITED

Year ended 31 December 2016

As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31 December 2016, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

GERALD KREDITOR & CO. Chartered accountant

Hallswelle House 1 Hallswelle Road London NW11 0DH

1 September 2017