United World Limited - Accounts to registrar (filleted) - small 18.2

United World Limited - Accounts to registrar (filleted) - small 18.2

UNITED WORLD LIMITED - Company Information

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REGISTERED NUMBER: 04822223 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2017

FOR

UNITED WORLD LIMITED
UNITED WORLD LIMITED (REGISTERED NUMBER: 04822223)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31st December 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


UNITED WORLD LIMITED

COMPANY INFORMATION
For The Year Ended 31st December 2017







DIRECTOR: A L Llaryora





REGISTERED OFFICE:
34 Buckingham Palace Road
London
SW1W 0RH





REGISTERED NUMBER: 04822223 (England and Wales)





ACCOUNTANTS: Centrum Chartered Accountants
Elscot House
Arcadia Avenue
London
N3 2JU
Page 1
UNITED WORLD LIMITED (REGISTERED NUMBER: 04822223)

BALANCE SHEET
31st December 2017

2017 2016
Notes $    $   
CURRENT ASSETS
Debtors 4 1,188,843 2,831,840

CREDITORS
Amounts falling due within one year 5 (608,380 ) (2,121,063 )
NET CURRENT ASSETS 580,463 710,777
TOTAL ASSETS LESS CURRENT
LIABILITIES
580,463
710,777

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 580,461 710,775
SHAREHOLDERS' FUNDS 580,463 710,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 12th April 2019 and were signed by:





A L Llaryora - Director


The notes form part of these financial statements

Page 2
UNITED WORLD LIMITED (REGISTERED NUMBER: 04822223)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31st December 2017

1. STATUTORY INFORMATION

United 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

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.

Going concern
The company provides its services to organisations outside the UK, many of which are based in the Third World.
One of the risks of doing business with these countries is that the company has the increased possibility of late
payment by customers of amounts due to the company. The company adopts a conservative approach in its
financial statements when assessing the recovery of outstanding balances due from customers.

The ultimate holding company, Missions World Limited, a company registered in the British Virgin Islands, has
been removed from the Companies Register. It is expected that steps will be taken shortly to have Missions World
Limited restored to the Companies Register in the British Virgin Islands.

Late payment by customers has an adverse effect on the company's cashflow and from time to time the company
is dependent upon the support of suppliers (including related parties), the parent company and the ultimate
controlling party to continue to meet its liabilities. Although no formal confirmation has been received from the
ultimate controlling party that funds will be provided to enable the company to meet its liabilities, the director has
no reason to believe that funds will not been made available as they have in the past. On the basis of this and
after making appropriate enquiries, the director has formed a judgement, at the time of approving the financial
statements, that there is reasonable expectation that the company has adequate resources to continue in
operating existence for the foreseeable future.

Because of the lack of formal documentation to evidence the ongoing support of the ultimate holding company
and the ultimate controlling party, the director has concluded that a material uncertainty exits that casts
significant doubt upon the company's ability to continue as a going concern. However, given the expected efforts
to restore the ultimate holding company to the Register and the above mentioned matters, the director continues
to adopt the going concern basis of accounting.

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UNITED WORLD LIMITED (REGISTERED NUMBER: 04822223)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st December 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - NIL ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
$    $   
Trade debtors 23,554 571,182
Amounts owed by group undertakings 1,165,109 2,260,314
Other debtors 180 344
1,188,843 2,831,840

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
$    $   
Bank loans and overdrafts - 1,124,723
Trade creditors 19,242 137,688
Amounts owed to group undertakings 553,478 553,478
Other creditors 35,660 305,174
608,380 2,121,063

6. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is AFA Press UK Limited, a company registered in England and Wales.
The ultimate holding company is Missions World Limited, a company registered in the British Virgin Islands.
The ultimate controlling party is Capitales Rambraud S.A., which is registered in the Republic of Panama, acting in
its capacity as the trustee of Crescent Trust. Crescent Trust is the majority shareholder of Missions World Limited.

Page 4