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Registered Number: 09305078
England and Wales

 

 

 

76 MANAGEMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Directors Malgorzata Zwolska
Mateusz Lgor Zwolski
Registered Number 09305078
Registered Office 1st Floor
5 French Place
London
E1 6JB
Accountants VERSA ACCOUNTANTS LTD
9 Corbets Tey Road,
Upminster, Essex
RM14 2AP
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2023
Principal activities
The companys principal activity during the year was other publishing activities.
Directors
The directors who served the company throughout the year were as follows:
Malgorzata Zwolska
Mateusz Lgor Zwolski
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Malgorzata Zwolska
Director

Date approved: 26 August 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of 76 Management Ltd for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 76 Management Ltd for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of 76 Management Ltd, as a body, in accordance with the terms of our engagement letter dated 26 August 2024 Our work has been undertaken solely to prepare for your approval the accounts of 76 Management Ltd and state those matters that we have agreed to state to the Board of Directors of 76 Management Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 76 Management Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that 76 Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 76 Management Ltd. You consider that 76 Management Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of 76 Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 November 2023



....................................................
VERSA ACCOUNTANTS LTD
9 Corbets Tey Road,
Upminster, Essex
RM14 2AP
26 August 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover 714,916    706,721 
Cost of sales (465,679)   (458,463)
Gross profit 249,237    248,258 
Administrative expenses (219,241)   (194,705)
Other operating income 755   
Operating profit 30,751    53,553 
Profit/(Loss) on ordinary activities before taxation 30,751    53,553 
Tax on profit on ordinary activities (7,678)   (7,339)
Profit/(Loss) for the financial year 23,073    46,214 
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 5,695    8,543 
Tangible fixed assets 4 580    870 
6,275    9,413 
Current assets      
Stocks 5 7,414    7,414 
Debtors 6 190,175    121,953 
Cash at bank and in hand 49,755    100,078 
247,344    229,445 
Creditors: amount falling due within one year 7 (214,282)   (223,786)
Net current assets 33,062    5,659 
 
Total assets less current liabilities 39,337    15,072 
Provisions for liabilities 8 (1,192)  
Net assets 38,145    15,072 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 38,045    14,972 
Shareholders' funds 38,145    15,072 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 August 2024 and were signed on its behalf by:


-------------------------------
Malgorzata Zwolska
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 December 2021 100  4,758  4,858 
Profit for the year 46,214  46,214 
Total comprehensive income for the year 46,214  46,214 
Dividends (36,000) (36,000)
Total investments by and distributions to owners (36,000) (36,000)
At 30 November 2022 100  14,972  15,072 
At 01 December 2022 100  14,972  15,072 
Profit for the year 23,073  23,073 
Total comprehensive income for the year 23,073  23,073 
Total investments by and distributions to owners
At 30 November 2023 100  38,045  38,145 
6
General Information
76 Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 09305078, registration address 1st Floor, 5 French Place , London, E1 6JB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 0).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 December 2022 11,391    11,391 
Additions  
Disposals  
At 30 November 2023 11,391    11,391 
Amortisation
At 01 December 2022 2,848    2,848 
Charge for year 2,848    2,848 
On disposals  
At 30 November 2023 5,696    5,696 
Net book values
At 30 November 2023 5,695    5,695 
At 30 November 2022 8,543    8,543 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 December 2022 12,854    12,854 
Additions  
Disposals  
At 30 November 2023 12,854    12,854 
Depreciation
At 01 December 2022 11,984    11,984 
Charge for year 290    290 
On disposals  
At 30 November 2023 12,274    12,274 
Net book values
Closing balance as at 30 November 2023 580    580 
Opening balance as at 01 December 2022 870    870 


5.

Stocks

2023
£
  2022
£
Work in Progress 7,414    7,414 
7,414    7,414 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 181,447    113,225 
Other Debtors 8,728    8,728 
190,175    121,953 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 54,403    20,910 
Corporation Tax 6,486    7,333 
PAYE & Social Security 404    118 
Other Creditors 1    1 
Wages & Salaries Control Account (314)  
Pension Provision   833 
Directors' Current Accounts 143,153    179,112 
VAT 10,149    15,479 
214,282    223,786 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 1,192   
1,192   

9.

Director’s loan

Director Current Account

At the year end, the company owed £ 143,153.18 (2022: £179,111.85) to the director in respect of a directors loan.
The loan is provided interest free and repayable upon demand
7