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COMPANY REGISTRATION NUMBER: 11141602
Ninethirty Limited
Filleted Unaudited Financial Statements
31 January 2023
Ninethirty Limited
Financial Statements
Year ended 31 January 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Ninethirty Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
11,667
10,705
Current assets
Debtors
6
72,067
68,732
Cash at bank and in hand
2,425
3,758
--------
--------
74,492
72,490
Creditors: amounts falling due within one year
7
35,588
10,352
--------
--------
Net current assets
38,904
62,138
--------
--------
Total assets less current liabilities
50,571
72,843
Creditors: amounts falling due after more than one year
8
31,577
42,546
--------
--------
Net assets
18,994
30,297
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
18,993
30,296
--------
--------
Shareholders funds
18,994
30,297
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 January 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ninethirty Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 9 October 2023 , and are signed on behalf of the board by:
Mr S J Hiscocks
Director
Company registration number: 11141602
Ninethirty Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Meadows School House Lane, Horsmonden, Tonbridge, TN12 8BW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 February 2022
3,186
9,525
12,711
Additions
564
4,433
4,997
-------
--------
--------
At 31 January 2023
3,750
13,958
17,708
-------
--------
--------
Depreciation
At 1 February 2022
302
1,704
2,006
Charge for the year
867
3,168
4,035
-------
--------
--------
At 31 January 2023
1,169
4,872
6,041
-------
--------
--------
Carrying amount
At 31 January 2023
2,581
9,086
11,667
-------
--------
--------
At 31 January 2022
2,884
7,821
10,705
-------
--------
--------
6. Debtors
2023
2022
£
£
Other debtors
72,067
68,732
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
6,365
7,187
Social security and other taxes
3,663
2,365
Other creditors
25,560
800
--------
--------
35,588
10,352
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
31,577
42,546
--------
--------
9. Director's advances, credits and guarantees
At the year end the company was owed £nil from the director (2022: £11,665). During the year aggregate advances of £22,500 were made to the director and aggregate repayments of £34,165 were made. Interest of £nil was charged on the outstanding balance.
10. Related party transactions
At the year end the company was owed £72,067 (2022: £57,067) by companies associated by common control.