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Registered Number: 10946900
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 September 2022

for

1-2-1 INVESTMENTS LIMITED

 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Intangible fixed assets 3   3,000 
Tangible fixed assets 4 9,661    15,388 
9,661    18,388 
Current assets      
Cash at bank and in hand 1,686    459 
Creditors: amount falling due within one year 5 (66,687)   (55,583)
Net current liabilities (65,001)   (55,124)
 
Total assets less current liabilities (55,340)   (36,736)
Creditors: amount falling due after more than one year 6 (7,352)   (10,517)
Net liabilities (62,692)   (47,253)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (62,792)   (47,353)
Shareholder's funds (62,692)   (47,253)
 


For the year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 10 October 2023 and were signed on its behalf by:


-------------------------------
Daniel Kelly
Director
1
General Information
1-2-1 Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10946900, registration address 105 Reepham Road, Norwich, NR65AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Franchise Fees
Franchise Fees is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Franchise Fees of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 2 (2021 : 2).
3.

Intangible fixed assets

Cost Franchise Fees   Total
  £   £
At 01 October 2021 15,000    15,000 
Additions  
Disposals  
At 30 September 2022 15,000    15,000 
Amortisation
At 01 October 2021 12,000    12,000 
Charge for year 3,000    3,000 
On disposals  
At 30 September 2022 15,000    15,000 
Net book values
At 30 September 2022  
At 30 September 2021 3,000    3,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Improvements to property   Total
  £   £   £   £
At 01 October 2021 13,853    2,383    14,128    30,364 
Additions      
Disposals      
At 30 September 2022 13,853    2,383    14,128    30,364 
Depreciation
At 01 October 2021 1,825    1,529    11,622    14,976 
Charge for year 3,007    214    2,506    5,727 
On disposals      
At 30 September 2022 4,832    1,743    14,128    20,703 
Net book values
Closing balance as at 30 September 2022 9,021    640      9,661 
Opening balance as at 01 October 2021 12,028    854    2,506    15,388 


5.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 1,226   
Bank Loans & Overdrafts 3,000    3,360 
Accrued Expenses 1,000    1,000 
Directors' Current Accounts 61,461    49,260 
VAT   1,963 
66,687    55,583 

6.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts 7,352    10,517 
7,352    10,517 

2