Company Registration No. 12395435 (England and Wales)
SEVENTY FOUR AGENCY LTD
ABRIDGED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2023
SEVENTY FOUR AGENCY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SEVENTY FOUR AGENCY LTD
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,816
6,695
Current assets
Debtors
5
61,771
59,016
Cash at bank and in hand
880
819
62,651
59,835
Creditors: amounts falling due within one year
6
(24,742)
(19,722)
Net current assets
37,909
40,113
Total assets less current liabilities
41,725
46,808
Creditors: amounts falling due after more than one year
7
(50,682)
(50,000)
Net liabilities
(8,957)
(3,192)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(8,958)
(3,193)
Total equity
(8,957)
(3,192)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 11 September 2023
RT Noble
Director
Company Registration No. 12395435
SEVENTY FOUR AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
Company information

Seventy Four Agency Ltd is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on the going concern basis which is dependent on the continued financial support from the company's directors and other creditors and on the ability of the company to continue trading. Should the directors and other creditors withdraw their support and the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and re-classify fixed assets as current assets.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 

 

1.4
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computer equipment
33% on cost
2
Operating loss
2023
2022
Operating loss for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
2,879
3,164
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
SEVENTY FOUR AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
4
Tangible fixed assets
Equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 February 2022 and 31 January 2023
4,028
1,088
6,183
11,299
Depreciation and impairment
At 1 February 2022
1,367
476
2,761
4,604
Depreciation charged in the year
665
153
2,061
2,879
At 31 January 2023
2,032
629
4,822
7,483
Carrying amount
At 31 January 2023
1,996
459
1,361
3,816
At 31 January 2022
2,661
612
3,422
6,695
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
15,171
14,476
Directors' current accounts
46,600
-
0
Prepayments
-
0
44,540
61,771
59,016
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
2,700
Corporation tax
15,171
14,476
Other taxation and social security
5,877
666
Directors' current accounts
-
0
4,844
Accruals
3,694
2,230
24,742
24,916
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
50,682
50,000
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