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Company Registration No. 12260511 (England and Wales)
24TWELVE LIMITED Unaudited accounts for the year ended 31 October 2023
24TWELVE LIMITED Unaudited accounts Contents
Page
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24TWELVE LIMITED Company Information for the year ended 31 October 2023
Director
Gareth Hill
Company Number
12260511 (England and Wales)
Registered Office
30 WESTERLANDS STAPLEFORD NOTTINGHAM NG9 7JG ENGLAND
Accountants
Cramar Ltd Suite 8, Stapleford Business Hub 1 Toton Lane Stapleford Nottingham NG9 7JQ
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24TWELVE LIMITED Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
58,879 
34,062 
Current assets
Debtors
67,332 
43,070 
Cash at bank and in hand
106,938 
61,866 
174,270 
104,936 
Creditors: amounts falling due within one year
(53,593)
(34,600)
Net current assets
120,677 
70,336 
Total assets less current liabilities
179,556 
104,398 
Creditors: amounts falling due after more than one year
(5,200)
(7,800)
Provisions for liabilities
Deferred tax
(4,056)
(5,116)
Net assets
170,300 
91,482 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
170,299 
91,481 
Shareholders' funds
170,300 
91,482 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 January 2024 and were signed on its behalf by
Gareth Hill Director Company Registration No. 12260511
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24TWELVE LIMITED Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
24TWELVE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12260511. The registered office is 30 WESTERLANDS, STAPLEFORD, NOTTINGHAM, NG9 7JG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight Line
Plant & machinery
20% Reducing balance
Fixtures & fittings
20% Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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24TWELVE LIMITED Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 November 2022
27,583 
- 
3,447 
13,569 
44,599 
Additions
- 
18,500 
14,291 
8,249 
41,040 
At 31 October 2023
27,583 
18,500 
17,738 
21,818 
85,639 
Depreciation
At 1 November 2022
5,516 
- 
1,484 
3,537 
10,537 
Charge for the year
2,758 
3,700 
6,109 
3,656 
16,223 
At 31 October 2023
8,274 
3,700 
7,593 
7,193 
26,760 
Net book value
At 31 October 2023
19,309 
14,800 
10,145 
14,625 
58,879 
At 31 October 2022
22,067 
- 
1,963 
10,032 
34,062 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
19,514 
18,129 
Other debtors
47,818 
24,941 
67,332 
43,070 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,600 
2,600 
VAT
1,794 
7,726 
Trade creditors
8,232 
3,344 
Taxes and social security
30,967 
20,930 
Accruals
10,000 
- 
53,593 
34,600 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
5,200 
7,800 
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24TWELVE LIMITED Notes to the Accounts for the year ended 31 October 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loans from the company
- 
(47,818)
- 
(47,818)
- 
(47,818)
- 
(47,818)
At the year end the company was owed £47,818 by the director, interest is charged at the standard rate and the loan is repayable upon demand
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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