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Registration number: 14628142

Twenty One Acquisitions Limited

Unaudited Filleted Financial Statements

for the Period from 31 January 2023 to 31 January 2024

 

Twenty One Acquisitions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Twenty One Acquisitions Limited

Company Information

Directors

C Short

R J McKenzie

Registered office

15 Chesterfield Crescent
Leigh-on-Sea
Essex
SS9 5PD

Accountants

Kingswood Chase Consulting Ltd
DeVine House
1299-1301 London Road
Leigh On Sea
Essex
SS9 2AD

 

Twenty One Acquisitions Limited

(Registration number: 14628142)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

2,152

Investment property

5

49,979

 

52,131

Current assets

 

Stocks

6

48,623

Debtors

7

10,900

Cash at bank and in hand

 

77,040

 

136,563

Creditors: Amounts falling due within one year

8

(210,802)

Net current liabilities

 

(74,239)

Net liabilities

 

(22,108)

Capital and reserves

 

Called up share capital

9

100

Retained earnings

(22,208)

Shareholders' deficit

 

(22,108)

 

Twenty One Acquisitions Limited

(Registration number: 14628142)
Balance Sheet as at 31 January 2024

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

.........................................
C Short
Director

.........................................
R J McKenzie
Director

 

Twenty One Acquisitions Limited

Notes to the Unaudited Financial Statements for the Period from 31 January 2023 to 31 January 2024

1

General information

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

The address of its registered office is:
15 Chesterfield Crescent
Leigh-on-Sea
Essex
SS9 5PD
England

These financial statements were authorised for issue by the Board on 9 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet 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:

 

Twenty One Acquisitions Limited

Notes to the Unaudited Financial Statements for the Period from 31 January 2023 to 31 January 2024

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Twenty One Acquisitions Limited

Notes to the Unaudited Financial Statements for the Period from 31 January 2023 to 31 January 2024

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

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

2,383

2,383

At 31 January 2024

2,383

2,383

Depreciation

Charge for the period

231

231

At 31 January 2024

231

231

Carrying amount

At 31 January 2024

2,152

2,152

5

Investment properties

2024
£

Additions

49,979

At 31 January

49,979

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

Finished goods and goods for resale

48,623

7

Debtors

Current

2024
£

Other debtors

10,900

 

10,900

 

Twenty One Acquisitions Limited

Notes to the Unaudited Financial Statements for the Period from 31 January 2023 to 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

10

58,913

Accruals and deferred income

 

875

Other creditors

 

151,014

 

210,802

9

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100

   

10

Loans and borrowings

Current loans and borrowings

2024
£

Bank borrowings

58,913