30/11/2020
2020-11-30
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No description of principal activities is disclosed
2019-12-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:USD
07846420
2019-12-01
2020-11-30
07846420
2020-11-30
07846420
2018-12-01
2019-11-30
07846420
2019-11-30
07846420
2018-11-30
07846420
bus:Director2
2019-12-01
2020-11-30
07846420
core:WithinOneYear
2020-11-30
07846420
core:WithinOneYear
2019-11-30
07846420
core:RetainedEarningsAccumulatedLosses
2018-12-01
2019-11-30
07846420
core:RetainedEarningsAccumulatedLosses
2019-12-01
2020-11-30
07846420
core:AfterOneYear
2020-11-30
07846420
core:AfterOneYear
2019-11-30
07846420
core:ShareCapital
2020-11-30
07846420
core:ShareCapital
2019-11-30
07846420
core:RetainedEarningsAccumulatedLosses
2020-11-30
07846420
core:RetainedEarningsAccumulatedLosses
2019-11-30
07846420
core:ShareCapital
2018-11-30
07846420
core:RetainedEarningsAccumulatedLosses
2018-11-30
07846420
core:CostValuation
core:Non-currentFinancialInstruments
2020-11-30
07846420
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2019-11-30
07846420
core:ImpairmentLossProvisionsForImpairmentInvestments
core:Non-currentFinancialInstruments
2020-11-30
07846420
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2020-11-30
07846420
core:Non-currentFinancialInstruments
2020-11-30
07846420
core:Non-currentFinancialInstruments
2019-11-30
07846420
bus:SmallEntities
2019-12-01
2020-11-30
07846420
bus:AuditExempt-NoAccountantsReport
2019-12-01
2020-11-30
07846420
bus:FullAccounts
2019-12-01
2020-11-30
07846420
bus:SmallCompaniesRegimeForAccounts
2019-12-01
2020-11-30
07846420
bus:PrivateLimitedCompanyLtd
2019-12-01
2020-11-30
07846420
core:ImmediateParent
2019-12-01
2020-11-30
Company registration number:
07846420
WORLDWIDE INDUSTRIAL PROPERTIES LTD
Unaudited filleted financial statements
30 November 2020
WORLDWIDE INDUSTRIAL PROPERTIES LTD
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
WORLDWIDE INDUSTRIAL PROPERTIES LTD
Statement of financial position
30 November 2020
|
|
|
2020
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|
|
2019
|
|
|
|
|
Note
|
$
|
|
$
|
|
$
|
|
$
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Investments
|
|
5
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|
|
561,294
|
|
|
|
664,283
|
|
|
|
|
|
|
|
|
|
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Current assets
|
|
|
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|
Debtors:
|
|
|
|
|
|
|
|
|
|
|
Amounts falling due after more than one year
|
6
|
18,020,000
|
|
|
|
18,020,000
|
|
|
|
|
|
|
|
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|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
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|
within one year
|
|
7
|
(
29,706)
|
|
|
|
(
24,428)
|
|
|
|
|
|
__________
|
|
|
|
__________
|
|
|
Net current assets
|
|
|
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|
17,990,294
|
|
|
|
17,995,572
|
|
|
|
|
|
__________
|
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|
|
__________
|
Total assets less current liabilities
|
|
|
|
|
18,551,588
|
|
|
|
18,659,855
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
__________
|
|
|
|
__________
|
Net assets
|
|
|
|
|
18,551,588
|
|
|
|
18,659,855
|
|
|
|
|
|
__________
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|
|
|
__________
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Capital and reserves
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|
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|
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Called up share capital
|
|
8
|
|
|
20,007,946
|
|
|
|
20,007,946
|
Profit and loss account
|
|
|
|
|
(
1,456,358)
|
|
|
|
(
1,348,091)
|
|
|
|
|
|
__________
|
|
|
|
__________
|
Shareholders funds
|
|
|
|
|
18,551,588
|
|
|
|
18,659,855
|
|
|
|
|
|
__________
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|
__________
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For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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 Section 1A of 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
10 August 2021
, and are signed on behalf of the board by:
Katerina Orfanidou
Director
Company registration number:
07846420
WORLDWIDE INDUSTRIAL PROPERTIES LTD
Statement of changes in equity
Year ended 30 November 2020
|
|
Called up share capital
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
$
|
|
$
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
At 1 December 2018
|
|
20,007,946
|
|
(
1,443,731)
|
18,564,215
|
|
|
|
|
|
|
|
__________
|
|
__________
|
__________
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year
|
|
|
|
95,640
|
95,640
|
|
|
|
|
|
|
|
__________
|
|
__________
|
__________
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
95,640
|
95,640
|
|
|
|
|
|
|
|
__________
|
|
__________
|
__________
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 30 November 2019 and 1 December 2019
|
|
20,007,946
|
|
(
1,348,091)
|
18,659,855
|
|
|
|
|
|
|
|
__________
|
|
__________
|
__________
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year
|
|
|
|
(
108,267)
|
(
108,267)
|
|
|
|
|
|
|
|
__________
|
|
__________
|
__________
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
(
108,267)
|
(
108,267)
|
|
|
|
|
|
|
|
__________
|
|
__________
|
__________
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 30 November 2020
|
|
20,007,946
|
|
(
1,456,358)
|
18,551,588
|
|
|
|
|
|
|
|
__________
|
|
__________
|
__________
|
|
|
|
|
|
|
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WORLDWIDE INDUSTRIAL PROPERTIES LTD
Notes to the financial statements
Year ended 30 November 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 52 Grosvenor Gardens, Nwms Office 514, 5th Floor, Belgravia, London, SW1W 0AU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are presented in U.S. dollars which is the functional currency of the company and rounded to the nearest $.
Going concern
The future profitability and realisable value of the company's fixed asset investments remain uncertain. However, the director has reasonable expectation that the company will continue to receive financial support from its shareholder, providing adequate resources for it to continue in operational existence for the foreseeable future. The director therefore continues to adopt the going concern basis in preparing the financial statements.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2019:
1
).
5.
Investments
Other investments other than loans
$
Cost
At 1 December 2019 and 30 November 2020
1,980,000
_________
|
Impairment
At 1 December 2019
1,315,717
Impairment loss
102,989
_________
|
At 30 November 2020
1,418,706
_________
|
Carrying amount
At 30 November 2020
561,294
_________
|
At 30 November 2019
664,283
_________
|
6.
Debtors
Debtors falling due after one year are as follows:
|
|
|
2020
|
2019
|
|
|
|
$
|
$
|
|
Other debtors
|
|
18,020,000
|
18,020,000
|
|
|
|
__________
|
__________
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2020
|
2019
|
|
|
|
$
|
$
|
|
Amount owed to parent undertaking
|
|
26,020
|
20,897
|
|
Other creditors
|
|
3,686
|
3,531
|
|
|
|
_______
|
_______
|
|
|
|
29,706
|
24,428
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Called up share capital
Issued, called up and fully paid
2020
2019
No
$
No
$
Ordinary shares of USD 1.6053 each
12,463,970
20,007,946
12,463,970
20,007,946
__________
|
__________
|
__________
|
__________
|
The share capital of the company is issued in pound sterling - 12,463,970 Ordinary shares of £1 each. The called up share capital is stated in the statement of financial position in U.S. dollars at the rate of exchange prevailing on the date of issue.
9.
Related party transactions
During the year, the parent undertaking has continued to provide financial support to the company and paid various expenses on its behalf. The amount owed to the parent undertaking at the reporting date was $ 26,020 (2019 - $ 20,897).
10.
Controlling party
The company's parent undertaking is
Acore Capital Partners Ltd
and the ultimate parent undertaking is Forge Investments Group Ltd
. Both companies are registered in British Virgin Islands.