Worldwide Distribution Services Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06543880 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

WORLDWIDE DISTRIBUTION SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L Lashkhi

Mrs B Filipiova

SECRETARY:

Mrs B Filipiova

REGISTERED OFFICE:

Unit 3, Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

REGISTERED NUMBER:

06543880 (England and Wales)

ACCOUNTANTS:

Buckleys

Chartered Accountants

Unit 3, Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

FIXED ASSETS

Tangible assets

4

14,150

15,734

CURRENT ASSETS

Debtors

5

159,386

115,364

Cash at bank

159,438

104,117

318,824

219,481

CREDITORS

Amounts falling due within one year

6

224,112

210,185

NET CURRENT ASSETS

94,712

9,296

TOTAL ASSETS LESS CURRENT LIABILITIES

108,862

25,030

CREDITORS

Amounts falling due after more than one year

7

8,472

12,487

NET ASSETS

100,390

12,543

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

100,190

12,343

SHAREHOLDERS' FUNDS

100,390

12,543

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 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 Board of Directors on 8 March 2018 and were signed on its behalf by:

Mr L Lashkhi - Director

1.	STATUTORY INFORMATION

Worldwide Distribution Services Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its

estimate useful life.

Franchise - 5% on straight line

Computer equipment - 25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Computer

Franchise

equipment

Totals

£

£

£

COST

At 1 August 2016

and 31 July 2017

23,500

4,070

27,570

DEPRECIATION

At 1 August 2016

9,400

2,436

11,836

Charge for year

1,175

409

1,584

At 31 July 2017

10,575

2,845

13,420

NET BOOK VALUE

At 31 July 2017

12,925

1,225

14,150

At 31 July 2016

14,100

1,634

15,734

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

159,386

115,364

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Bank loans and overdrafts

13,272

3,546

Trade creditors

99,398

136,567

Corporation tax

24,374

5,132

Social security and other taxes

-

(4,749

)

VAT

8,295

3,643

Directors' current accounts

77,957

64,387

Accrued expenses

816

1,659

224,112

210,185

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.17

31.7.16

£

£

Bank loans - 2-5 years

8,472

12,487

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2017 and

31 July 2016:

31.7.17

31.7.16

£

£

Mr L Lashkhi and Mrs B Filipiova

Balance outstanding at start of year

(64,387

)

(25,503

)

Amounts advanced

34,927

36,295

Amounts repaid

(48,497

)

(75,179

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(77,957

)

(64,387

)

9.	RELATED PARTY DISCLOSURES

The company was under the control of Mr L Lashkhi throughout the current and previous periods.

Mr L Lashkhi is the managing director and a shareholder.

No transactions with related parties were undertaken such as are required to be disclosed under the

Financial Reporting Standard for Smaller Entities.