ACCOUNTS - Final Accounts

WORLD BALL COMPANY LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-01-01 02854277 2017-01-01 2017-12-31 02854277 2017-12-31 02854277 2016-12-31 02854277 c:Director2 2017-01-01 2017-12-31 02854277 d:OfficeEquipment 2017-01-01 2017-12-31 02854277 d:OfficeEquipment 2017-12-31 02854277 d:OfficeEquipment 2016-12-31 02854277 d:CurrentFinancialInstruments 2017-12-31 02854277 d:CurrentFinancialInstruments 2016-12-31 02854277 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 02854277 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 02854277 d:ShareCapital 2017-12-31 02854277 d:ShareCapital 2016-12-31 02854277 d:RetainedEarningsAccumulatedLosses 2017-12-31 02854277 d:RetainedEarningsAccumulatedLosses 2016-12-31 02854277 c:FRS102 2017-01-01 2017-12-31 02854277 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 02854277 c:FullAccounts 2017-01-01 2017-12-31 02854277 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 iso4217:GBP

Registered number: 02854277

WORLD BALL COMPANY LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017

WORLD BALL COMPANY LIMITED

REGISTERED NUMBER: 02854277

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£


Current assets
Cash at bank and in hand	5	24,251		24,010
		24,251		24,010
Creditors: amounts falling due within one year	6	(39,011)		(37,106)
Net current liabilities			(14,760)		(13,096)
Total assets less current liabilities			(14,760)		(13,096)

Net liabilities			(14,760)		(13,096)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(14,860)	(13,196)
		(14,760)	(13,096)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2018.

R van Dalen

Director

The notes on pages 2 to 5 form part of these financial statements.

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WORLD BALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	General information

World Ball Company Limited is domiciled in England and Wales, registration number 02854277. The registered office address is 102 High Stree, Godalming, Surrey, GU7 1DS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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WORLD BALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

33.33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 0 (2016 - 0).

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WORLD BALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2017	610
	At 31 December 2017	610
	Depreciation
	At 1 January 2017	610
	At 31 December 2017	610
	Net book value
	At 31 December 2017	-
	At 31 December 2016	-

5.	Cash and cash equivalents
		2017	2016
		£	£

Cash at bank and in hand	24,251	24,011
	24,251	24,011

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Other creditors	38,541	36,636
Accruals and deferred income	470	470
	39,011	37,106

Page 4

WORLD BALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

7.	Share capital
		2017	2016
		£	£

1,000 (2016 - 1,000) Ordinary shares of £1.00 each	1,000	1,000

Allotted, called up and fully paid

100 (2016 - 100) Ordinary shares of £1.00 each	100	100

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