247TOOLS LTD
|
Registered number: |
08510670
|
Balance Sheet |
as at 31 October 2021
|
|
Notes |
|
|
2021 |
|
|
2020 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
28,114 |
|
|
142 |
|
Current assets |
Stocks |
|
|
975 |
|
|
8,025 |
Debtors |
4 |
|
18,131 |
|
|
18,348 |
Cash at bank and in hand |
|
|
- |
|
|
30,000 |
|
|
|
19,106 |
|
|
56,373 |
|
Creditors: amounts falling due within one year |
5 |
|
(46,984) |
|
|
(56,345) |
|
Net current (liabilities)/assets |
|
|
|
(27,878) |
|
|
28 |
|
Net assets |
|
|
|
236 |
|
|
170 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
136 |
|
|
70 |
|
Shareholders' funds |
|
|
|
236 |
|
|
170 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
Mr T Rafi |
Director |
Approved by the board on 31 October 2022
|
|
247TOOLS LTD
|
Notes to the Accounts |
for the year ended 31 October 2021
|
|
|
1 |
Accounting policies |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
|
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
|
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
|
|
|
2 |
Employees |
2021 |
|
2020 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Fixture and fittings |
|
Plant and machinery etc |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 November 2020 |
- |
|
539 |
|
539 |
|
Additions |
28,000 |
|
- |
|
28,000 |
|
At 31 October 2021 |
28,000 |
|
539 |
|
28,539 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2020 |
- |
|
397 |
|
397 |
|
Charge for the year |
- |
|
28 |
|
28 |
|
At 31 October 2021 |
- |
|
425 |
|
425 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2021 |
28,000 |
|
114 |
|
28,114 |
|
At 31 October 2020 |
- |
|
142 |
|
142 |
|
|
4 |
Debtors |
2021 |
|
2020 |
£ |
£ |
|
|
Other debtors |
18,131 |
|
18,348 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
£ |
£ |
|
|
Bank loans and overdrafts |
46,545 |
|
55,000 |
|
Taxation and social security costs |
139 |
|
1,045 |
|
Other creditors |
300 |
|
300 |
|
|
|
|
|
|
46,984 |
|
56,345 |
|
|
|
|
|
|
|
|
|
|
6 |
Controlling party |
|
|
The company is controlled by the director who owns 100% of the called up share capital.
|
|
|
7 |
Other information |
|
|
247TOOLS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 11 Gill & Russell |
|
Trading Estate |
|
Pleck Road |
|
Walsall |
|
WS2 9ES |