Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31trueNo description of principal activitytrue2023-01-01false11The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11710212 2023-01-01 2023-12-31 11710212 2022-01-01 2022-12-31 11710212 2023-12-31 11710212 2022-12-31 11710212 c:Director1 2023-01-01 2023-12-31 11710212 c:RegisteredOffice 2023-01-01 2023-12-31 11710212 d:PlantMachinery 2023-01-01 2023-12-31 11710212 d:PlantMachinery 2023-12-31 11710212 d:PlantMachinery 2022-12-31 11710212 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11710212 d:CurrentFinancialInstruments 2023-12-31 11710212 d:CurrentFinancialInstruments 2022-12-31 11710212 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11710212 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11710212 d:ShareCapital 2023-12-31 11710212 d:ShareCapital 2022-12-31 11710212 d:RetainedEarningsAccumulatedLosses 2023-12-31 11710212 d:RetainedEarningsAccumulatedLosses 2022-12-31 11710212 c:FRS102 2023-01-01 2023-12-31 11710212 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11710212 c:FullAccounts 2023-01-01 2023-12-31 11710212 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11710212 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11710212 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11710212 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 11710212 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 11710212 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 11710212







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


N17 LTD






































                        

 


N17 LTD
 


 
COMPANY INFORMATION


Director
P S Green 




Registered number
11710212



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


N17 LTD
REGISTERED NUMBER:11710212



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
259,202
145,320

  
259,202
145,320

Current assets
  

Debtors: amounts falling due within one year
 5 
162,968
253,179

Cash at bank and in hand
  
16,009
13,942

  
178,977
267,121

Creditors: amounts falling due within one year
 6 
(398,673)
(402,053)

Net current liabilities
  
 
 
(219,696)
 
 
(134,932)

Total assets less current liabilities
  
39,506
10,388

Provisions for liabilities
  

Deferred tax
 7 
(5,255)
-

  
 
 
(5,255)
 
 
-

Net assets
  
34,251
10,388


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
34,151
10,288

  
34,251
10,388


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.

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 16 April 2024.




Page 1

 


N17 LTD
REGISTERED NUMBER:11710212


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

P S Green
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 


N17 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

N17 Ltd is a private company limited by shares, incorporated in England and Wales, company registration number 11710212. The address of the registered office is stated on the company information page.

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue is generated from a contract to provide services and from contract hire agreements. Revenue is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 


N17 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 reporting 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 reporting 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 reporting date.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
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 profit or loss.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 


N17 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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 1 (2022 - 1).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
158,531


Additions
161,765



At 31 December 2023

320,296



Depreciation


At 1 January 2023
13,211


Charge for the year on owned assets
47,883



At 31 December 2023

61,094



Net book value



At 31 December 2023
259,202



At 31 December 2022
145,320

Page 5

 


N17 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
12,398
-

Other debtors
150,000
201,777

Prepayments and accrued income
570
50,825

Deferred taxation
-
577

162,968
253,179



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
684
3,126

Other taxation and social security
5,942
-

Other creditors
389,287
396,287

Accruals and deferred income
2,760
2,640

398,673
402,053



7.


Deferred taxation




2023


£






At beginning of year
577


Charged to profit or loss
(5,832)



At end of year
(5,255)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(49,248)
(27,611)

Tax losses carried forward
43,993
28,188

(5,255)
577

Page 6

 


N17 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Related party transactions

Within other creditors is an amount owed to the director totalling £389,287 (2022: £396,287). The loan is provided interest free and repayable on demand.

 
Page 7