Registered number
08562121
Six Two Tech Limited
Unaudited Filleted Accounts
31 December 2023
Six Two Tech Limited
Registered number: 08562121
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,218 9,048
Current assets
Debtors 4 32,166 27,414
Cash at bank and in hand 8,702 46,023
40,868 73,437
Creditors: amounts falling due within one year 5 (88,542) (29,339)
Net current (liabilities)/assets (47,674) 44,098
Total assets less current liabilities (40,456) 53,146
Creditors: amounts falling due after more than one year 6 (15,000) (25,000)
Net (liabilities)/assets (55,456) 28,146
Capital and reserves
Called up share capital 100 100
Profit and loss account (55,556) 28,046
Shareholders' funds (55,456) 28,146
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Drablow
Director
Approved by the board on 16 April 2024
Six Two Tech Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 5 years
Bicycles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
These financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support of the director.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Computer equipment Bicycles Total
£ £ £
Cost
At 1 January 2023 15,496 800 16,296
Additions 617 - 617
At 31 December 2023 16,113 800 16,913
Depreciation
At 1 January 2023 6,448 800 7,248
Charge for the year 2,447 - 2,447
At 31 December 2023 8,895 800 9,695
Net book value
At 31 December 2023 7,218 - 7,218
At 31 December 2022 9,048 - 9,048
4 Debtors 2023 2022
£ £
Trade debtors 25,919 15,422
Other debtors 6,247 11,992
32,166 27,414
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,237 1,205
Amounts owed to group undertakings and undertakings in which the company has a participating interest 54,763 7,498
Taxation and social security costs 15,017 6,276
Other creditors 4,525 4,360
88,542 29,339
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,000 25,000
7 Controlling party
The company is owned by Branscombe Group Limited. The registered office for Branscombe Group Limited is 24 Bell Lane, Blackwater, Camberley, Surrey, GU17 0NW
8 Other information
Six Two Tech Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 Bell Lane
Blackwater
Camberley
Surrey
GU17 0NW
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