Company Registration No. 12260511 (England and Wales)
24TWELVE LIMITED
Unaudited accounts
for the year ended 31 October 2023
24TWELVE LIMITED
Unaudited accounts
Contents
24TWELVE LIMITED
Company Information
for the year ended 31 October 2023
Company Number
12260511 (England and Wales)
Registered Office
30 WESTERLANDS
STAPLEFORD
NOTTINGHAM
NG9 7JG
ENGLAND
Accountants
Cramar Ltd
Suite 8, Stapleford Business Hub
1 Toton Lane
Stapleford
Nottingham
NG9 7JQ
24TWELVE LIMITED
Statement of financial position
as at 31 October 2023
Tangible assets
58,879
34,062
Cash at bank and in hand
106,938
61,866
Creditors: amounts falling due within one year
(53,593)
(34,600)
Net current assets
120,677
70,336
Total assets less current liabilities
179,556
104,398
Creditors: amounts falling due after more than one year
(5,200)
(7,800)
Provisions for liabilities
Deferred tax
(4,056)
(5,116)
Called up share capital
1
1
Profit and loss account
170,299
91,481
Shareholders' funds
170,300
91,482
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 January 2024 and were signed on its behalf by
Gareth Hill
Director
Company Registration No. 12260511
24TWELVE LIMITED
Notes to the Accounts
for the year ended 31 October 2023
24TWELVE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12260511. The registered office is 30 WESTERLANDS, STAPLEFORD, NOTTINGHAM, NG9 7JG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight Line
Plant & machinery
20% Reducing balance
Fixtures & fittings
20% Reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
24TWELVE LIMITED
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2022
27,583
-
3,447
13,569
44,599
Additions
-
18,500
14,291
8,249
41,040
At 31 October 2023
27,583
18,500
17,738
21,818
85,639
At 1 November 2022
5,516
-
1,484
3,537
10,537
Charge for the year
2,758
3,700
6,109
3,656
16,223
At 31 October 2023
8,274
3,700
7,593
7,193
26,760
At 31 October 2023
19,309
14,800
10,145
14,625
58,879
At 31 October 2022
22,067
-
1,963
10,032
34,062
Amounts falling due within one year
Trade debtors
19,514
18,129
Other debtors
47,818
24,941
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,600
2,600
Trade creditors
8,232
3,344
Taxes and social security
30,967
20,930
7
Creditors: amounts falling due after more than one year
2023
2022
24TWELVE LIMITED
Notes to the Accounts
for the year ended 31 October 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans from the company
-
(47,818)
-
(47,818)
At the year end the company was owed £47,818 by the director, interest is charged at the standard rate and the loan is repayable upon demand
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).