Company Registration No. 04892985 (England and Wales)
T24 Seven Limited
Unaudited accounts
for the year ended 31 December 2023
T24 Seven Limited
Unaudited accounts
Contents
T24 Seven Limited
Company Information
for the year ended 31 December 2023
Directors
Mr N Horne
Mrs N Horne
Company Number
04892985 (England and Wales)
Registered Office
UNIT 4G SOUTH HAMS BUSINESS PARK
CHURCHSTOW
KINGSBRIDGE
DEVON
TQ7 3QH
ENGLAND
Accountants
Helen Solomon Ltd
Unit 4G South Hams Business Park
Churchstow
Devon
TQ7 3QH
T24 Seven Limited
Statement of financial position
as at 31 December 2023
Intangible assets
21,083
44,083
Tangible assets
334,719
350,328
Cash at bank and in hand
73,282
174,592
Creditors: amounts falling due within one year
(113,790)
(116,705)
Net current assets
23,932
101,262
Total assets less current liabilities
379,734
495,673
Creditors: amounts falling due after more than one year
(206,733)
(373,966)
Provisions for liabilities
Net assets
156,052
121,707
Called up share capital
100
100
Profit and loss account
155,952
121,607
Shareholders' funds
156,052
121,707
For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by
Mr N Horne
Director
Company Registration No. 04892985
T24 Seven Limited
Notes to the Accounts
for the year ended 31 December 2023
T24 Seven Limited is a private company, limited by shares, registered in England and Wales, registration number 04892985. The registered office is UNIT 4G SOUTH HAMS BUSINESS PARK, CHURCHSTOW, KINGSBRIDGE, DEVON, TQ7 3QH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
The building structure current value exceeds cost, so is not depreciated.
Plant & machinery
20% Reducing Balance pa and 8% Straight Line pa on Plant within the buildings
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
At 31 December 2023
115,000
Charge for the year
23,000
At 31 December 2023
93,917
At 31 December 2023
21,083
At 31 December 2022
44,083
Goodwill has been acquired on the purchase of the business on 2nd December 2019. It will be amortised equally over 5 years.
T24 Seven Limited
Notes to the Accounts
for the year ended 31 December 2023
5
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
313,365
100,890
4,456
418,711
At 31 December 2023
313,365
105,114
4,456
422,935
At 1 January 2023
23,256
43,617
1,510
68,383
Charge for the year
6,944
12,300
589
19,833
At 31 December 2023
30,200
55,917
2,099
88,216
At 31 December 2023
283,165
49,197
2,357
334,719
At 31 December 2022
290,109
57,273
2,946
350,328
Amounts falling due within one year
Accrued income and prepayments
8,874
8,434
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
24,305
25,958
Taxes and social security
47,644
29,513
Other creditors
8,955
11,303
8
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
206,733
373,966
T24 Seven Limited
Notes to the Accounts
for the year ended 31 December 2023
9
Deferred taxation
2023
2022
Accelerated capital allowances
16,949
-
Charged to the profit and loss account
16,949
-
Provision at end of year
16,949
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The company pension is a defined contribution pension into the NEST Pension Scheme.
The Directors have loaned the company £206,733 (£373,966 at 31/12/2022) to enable it to purchase the business and to update the plant and equipment of the business. Repayments of the loan will be made when there is sufficient funds in the company to do so, there is currently no agreed repayment date or method.
13
Transactions with related parties
Dividends totalling £60,000 were paid during the year to the shareholders who are also the directors of the company.
A formal loan of £35,000 has been made to Salcombe Suppers Ltd a company controlled by family members of the Directors.
14
Average number of employees
During the year the average number of employees was 26 (2022: 26).