Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity99truetrue 04570644 2022-04-01 2023-03-31 04570644 2021-04-01 2022-03-31 04570644 2023-03-31 04570644 2022-03-31 04570644 c:Director1 2022-04-01 2023-03-31 04570644 d:FurnitureFittings 2022-04-01 2023-03-31 04570644 d:FurnitureFittings 2023-03-31 04570644 d:FurnitureFittings 2022-03-31 04570644 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04570644 d:OfficeEquipment 2022-04-01 2023-03-31 04570644 d:OfficeEquipment 2023-03-31 04570644 d:OfficeEquipment 2022-03-31 04570644 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04570644 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04570644 d:CurrentFinancialInstruments 2023-03-31 04570644 d:CurrentFinancialInstruments 2022-03-31 04570644 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04570644 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04570644 d:ShareCapital 2023-03-31 04570644 d:ShareCapital 2022-03-31 04570644 d:RetainedEarningsAccumulatedLosses 2023-03-31 04570644 d:RetainedEarningsAccumulatedLosses 2022-03-31 04570644 c:FRS102 2022-04-01 2023-03-31 04570644 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04570644 c:FullAccounts 2022-04-01 2023-03-31 04570644 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04570644 d:WithinOneYear 2023-03-31 04570644 d:WithinOneYear 2022-03-31 04570644 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 04570644









24 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
24 LIMITED
REGISTERED NUMBER: 04570644

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,597
4,174

Current assets
  

Stocks
  
60,671
321,221

Debtors: amounts falling due within one year
 5 
412,400
384,325

Cash at bank and in hand
  
535,510
550,214

  
1,008,581
1,255,760

Creditors: amounts falling due within one year
 6 
(357,548)
(564,237)

Net current assets
  
 
 
651,033
 
 
691,523

  

Net assets
  
658,630
695,697


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
658,430
695,497

  
658,630
695,697


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

Page 1

 
24 LIMITED
REGISTERED NUMBER: 04570644
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 October 2023.




Mr I R Vardigans
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
24 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

24 Limited ("the Company") is a private company limited by shares, incorporated in England and Wales.
Its registered office is Leytonstone House, 3 Hanbury Drive, London, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to Statement of income and retained earnings on a straight-line basis over the lease term.

 
2.4

Government grants

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective
interest method.

 
2.6

Pensions

The Company makes contributions to certain employees' personal pension schemes.

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. 

Page 3

 
24 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in the Statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, provided on the following annual bases:

Fixtures and fittings
-
25% straight line
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the Statement of income and retained earnings.

 
2.9

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.


Page 4

 
24 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short-term creditors are measured at the transaction price.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 9).

Page 5

 
24 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost


At 1 April 2022
9,863
52,002
61,865


Additions
357
6,114
6,471



At 31 March 2023

10,220
58,116
68,336



Depreciation


At 1 April 2022
9,863
47,828
57,691


Charge for the year on owned assets
81
2,967
3,048



At 31 March 2023

9,944
50,795
60,739



Net book value



At 31 March 2023
276
7,321
7,597



At 31 March 2022
-
4,174
4,174

Page 6

 
24 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
394,663
365,883

Other debtors
7,200
7,242

Prepayments
10,537
11,200

412,400
384,325



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
163,014
235,414

Corporation tax
12,106
23,281

Other taxation and social security
51,495
45,627

Other creditors
2,966
1,236

Accruals and deferred income
127,967
258,679

357,548
564,237



7.


Pension commitments

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the funds in respect of the year. The assets of the scheme are held separately from those of the Company in an independently administered fund. The Company also makes contributions to certain employees' personal pension schemes. The pension cost charge represents contributions payable by the Company to the funds and amounted to £23,922 (2022 - £28,434). An amount of £Nil (2022 - £6,000) was outstanding at the balance sheet date.


8.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
18,370
26,890

 
Page 7