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Registration number: 10940615

163 Advisors Ltd

Annual Report and Unaudited Financial Statements

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

 

Tangible assets

5

1,089

2,490

Other financial assets

6

40,366

40,366

 

41,455

42,856

Current assets

 

Debtors

7

20,426

37,540

Cash at bank and in hand

 

6,253

689

 

26,679

38,229

Creditors: Amounts falling due within one year

8

(60,975)

(80,689)

Net current liabilities

 

(34,296)

(42,460)

Net assets

 

7,159

396

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 members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 on 25 July 2024
 

.........................................

F Nylander
Director

 

163 Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

Principal activity

The principal activity of the Company is management consultancy.

2

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

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

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

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.

3

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.

4

Staff numbers

The average number of persons employed by the Company (excluding the director) during the year, was 1 (2022 - 1).

 

163 Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Computer equipment
£

Total
£

Cost

At 1 November 2022

5,496

5,496

At 31 October 2023

5,496

5,496

Depreciation

At 1 November 2022

3,006

3,006

Charge for the year

1,401

1,401

At 31 October 2023

4,407

4,407

Carrying amount

At 31 October 2023

1,089

1,089

At 31 October 2022

2,490

2,490

 

163 Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

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

40,366

7

Debtors

2022
£

2021
£

Accrued income

14,687

33,597

Other debtors

5,739

3,943

20,426

37,540

8

Creditors

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

2,250

-

Amounts owed to related parties

10

56,705

78,739

Other creditors

 

2,020

1,950

 

60,975

80,689

 

163 Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

9

Dividends

There were no dividends paid or proposed in the current period or previous period.

10

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).