Registration number:
163 Advisors Ltd
for the Year Ended 31 October 2023
Pages for Filing with Registrar
163 Advisors Ltd
(Registration number: 10940615)
Balance Sheet as at 31 October 2023
Note |
2021 |
2020 |
|
Fixed assets |
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Tangible assets |
|
|
|
Other financial assets |
40,366 |
40,366 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
1 |
1 |
|
Profit and loss account |
7,158 |
395 |
|
Shareholders' funds |
7,159 |
396 |
163 Advisors Ltd
(Registration number: 10940615)
Balance Sheet as at 31 October 2023
For the financial 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.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
.........................................
Director
163 Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Principal activity
The principal activity of the Company is management consultancy.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The company made a profit in the year and has net current liabilities. The company is dependent on the support from the shareholders to continue as a going concern.
The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.
Foreign currency transactions and balances
163 Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets
and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax
credits in the Company. Deferred income tax is determined using tax rates and laws that have been
enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
3 years straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
163 Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Significant judgements and estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
Staff numbers |
The average number of persons employed by the Company (excluding the director) during the year, was
163 Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Tangible assets |
Computer equipment |
Total |
|
Cost |
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At 1 November 2022 |
|
|
At 31 October 2023 |
|
|
Depreciation |
||
At 1 November 2022 |
|
|
Charge for the year |
|
|
At 31 October 2023 |
|
|
Carrying amount |
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At 31 October 2023 |
|
|
At 31 October 2022 |
|
|
163 Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 1 November 2022 |
40,366 |
40,366 |
At 31 October 2023 |
40,366 |
40,366 |
Impairment |
||
Carrying amount |
||
At 31 October 2023 |
|
40,366 |
Debtors |
2022 |
2021 |
|
Accrued income |
|
|
Other debtors |
5,739 |
3,943 |
|
|
Creditors |
Note |
2022 |
2021 |
|
Due within one year |
|||
Trade creditors |
|
- |
|
Amounts owed to related parties |
|
|
|
Other creditors |
|
|
|
60,975 |
80,689 |
163 Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Dividends |
There were no dividends paid or proposed in the current period or previous period.
Related party transactions |
Transactions with the director |
During the period, the director made payments on behalf of the company amounting to £nil (2022: £45,918). The director also received reimbursements from the company of £22,034 (2022: £15,878 ). At the year end the amount owed to the director was £56,705 (2022: £78,739).