19 SEVENTY NINE LTD

Company Registration Number:
10059962 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

19 SEVENTY NINE LTD

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

19 SEVENTY NINE LTD

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 755,831 0
Investments: 4 100 100
Total fixed assets: 755,931 100
Current assets
Debtors:   425,530 511,500
Cash at bank and in hand: 327 1,157
Total current assets: 425,857 512,657
Creditors: amounts falling due within one year:   (628,497) (443,644)
Net current assets (liabilities): (202,640) 69,013
Total assets less current liabilities: 553,291 69,113
Creditors: amounts falling due after more than one year:   (524,306) (43,144)
Total net assets (liabilities): 28,985 25,969
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 28,885 25,869
Shareholders funds: 28,985 25,969

The notes form part of these financial statements

19 SEVENTY NINE LTD

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 March 2024
and signed on behalf of the board by:

Name: Mr M Williams
Status: Director

The notes form part of these financial statements

19 SEVENTY NINE LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Investment propertiesInvestment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.Fixed asset investmentsInterests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long terminterest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Other accounting policies

TaxationThe tax expense represents the sum of the tax currently payable and deferred tax.Current taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.Deferred taxDeferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extentthat it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by thesame tax authority.Employee benefitsThe costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.LeasesRental income from operating leases is recognised on a straight line basis over the term of the relevant lease.Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

19 SEVENTY NINE LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 0 0

19 SEVENTY NINE LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 0
Additions 755,831
At 31 March 2023 755,831
Depreciation
At 01 April 2022 0
At 31 March 2023 0
Net book value
At 31 March 2023 755,831
At 31 March 2022 0

19 SEVENTY NINE LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Fixed investments

Investment property comprises one residential property. The fair value of the investment property has been arrived at on the basis of the sales value at the date of purchase in December 2022. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.