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REGISTERED NUMBER: 04694447 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

TEN-EIGHTY (NORWICH) LIMITED

TEN-EIGHTY (NORWICH) LIMITED (REGISTERED NUMBER: 04694447)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TEN-EIGHTY (NORWICH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr I Taylor



REGISTERED OFFICE: 6-8 Dove Street
Norwich
NR2 1DE



REGISTERED NUMBER: 04694447 (England and Wales)



BANKERS: HSBC
18 London Street
Norwich
Norfolk
NR2 1LG

TEN-EIGHTY (NORWICH) LIMITED (REGISTERED NUMBER: 04694447)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,121 5,394

CURRENT ASSETS
Stocks 140,919 131,570
Debtors 5 9,486 16,447
Cash at bank 981 1,026
151,386 149,043
CREDITORS
Amounts falling due within one year 6 310,283 291,307
NET CURRENT LIABILITIES (158,897 ) (142,264 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(154,776

)

(136,870

)

CREDITORS
Amounts falling due after more than one
year

7

15,901

24,132
NET LIABILITIES (170,677 ) (161,002 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (170,777 ) (161,102 )
SHAREHOLDERS' FUNDS (170,677 ) (161,002 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





Mr I Taylor - Director


TEN-EIGHTY (NORWICH) LIMITED (REGISTERED NUMBER: 04694447)

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

1. STATUTORY INFORMATION

Ten-Eighty (Norwich) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At 31 March 2023 the company had net current liabilities of £158,897 and net liabilities of £170,677. The company relies on the continued support of its director and bank to meet its day to day working capital requirements. The director has indicated his willingness to support the company as necessary for the foreseeable future.

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

Turnover represents the fair value of goods sold during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold improvements - Straight line over 20 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

TEN-EIGHTY (NORWICH) LIMITED (REGISTERED NUMBER: 04694447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised when there is reasonable assurance that the grant conditions will be met and the grant will be received. These grants are recognised within other operating income on a systematic basis over the periods in which the related costs towards which they are intended to compensate are recognised as expenses.

Coronavirus Job Retention Scheme (CJRS)
Grants received in relation to the Coronavirus Job Retention Scheme are accounted for on the accruals basis once the related payroll return has been submitted.

3. EMPLOYEES

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Short Fixtures
leasehold Plant and and
improvements machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 1,220 17,646 28,884 47,750
DEPRECIATION
At 1 April 2022 671 17,099 24,586 42,356
Charge for year 61 137 1,075 1,273
At 31 March 2023 732 17,236 25,661 43,629
NET BOOK VALUE
At 31 March 2023 488 410 3,223 4,121
At 31 March 2022 549 547 4,298 5,394

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 9,486 16,447

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,383 28,157
Trade creditors 109,631 108,557
Taxation and social security 152 151
Other creditors 184,117 154,442
310,283 291,307

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 15,901 24,132

TEN-EIGHTY (NORWICH) LIMITED (REGISTERED NUMBER: 04694447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 9,601 22,823

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 'A' £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director, Mr I Taylor, has provided the bank with a personal guarantee over the borrowings of the company.