1 January 2023 false No description of principal activity Taxfiler 2024.5 04892985business:PrivateLimitedCompanyLtd2023-01-012023-12-31 048929852022-12-31 048929852023-01-012023-12-31 04892985business:AuditExemptWithAccountantsReport2023-01-012023-12-31 04892985business:FilletedAccounts2023-01-012023-12-31 048929852023-12-31 04892985business:Director12023-01-012023-12-31 04892985business:Director22023-01-012023-12-31 04892985business:RegisteredOffice2023-01-012023-12-31 048929852022-12-31 04892985core:WithinOneYear2023-12-31 04892985core:WithinOneYear2022-12-31 04892985core:AfterOneYear2023-12-31 04892985core:AfterOneYear2022-12-31 04892985core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 04892985core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 04892985core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 04892985core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 04892985core:PreviouslyStatedAmount2023-12-31 04892985core:PreviouslyStatedAmount2022-12-31 04892985business:SmallEntities2023-01-012023-12-31 04892985countries:EnglandWales2023-01-012023-12-31 04892985core:LandBuildings2023-01-012023-12-31 04892985core:PlantMachinery2023-01-012023-12-31 04892985core:Goodwill2022-12-31 04892985core:Goodwill2023-12-31 04892985core:Goodwill2023-01-012023-12-31 04892985core:LandBuildings2022-12-31 04892985core:PlantMachinery2022-12-31 04892985core:ComputerEquipment2022-12-31 04892985core:ComputerEquipment2023-01-012023-12-31 04892985core:LandBuildings2023-12-31 04892985core:PlantMachinery2023-12-31 04892985core:ComputerEquipment2023-12-31 04892985core:AcceleratedTaxDepreciationDeferredTax2023-12-31 04892985core:AcceleratedTaxDepreciationDeferredTax2022-12-31 048929852022-01-012022-12-31 04892985business:OrdinaryShareClass12023-01-012023-12-31 04892985business:OrdinaryShareClass12022-01-012022-12-31 iso4217:GBP xbrli:shares xbrli:pure
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
Page
- 2 -
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
- 3 -
T24 Seven Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
21,083 
44,083 
Tangible assets
334,719 
350,328 
355,802 
394,411 
Current assets
Inventories
20,566 
32,301 
Debtors
43,874 
11,074 
Cash at bank and in hand
73,282 
174,592 
137,722 
217,967 
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
Deferred tax
(16,949)
- 
Net assets
156,052 
121,707 
Capital and reserves
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
- 4 -
T24 Seven Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
115,000 
At 31 December 2023
115,000 
Amortisation
At 1 January 2023
70,917 
Charge for the year
23,000 
At 31 December 2023
93,917 
Net book value
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.
- 5 -
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 
Additions
- 
4,224 
- 
4,224 
At 31 December 2023
313,365 
105,114 
4,456 
422,935 
Depreciation
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 
Net book value
At 31 December 2023
283,165 
49,197 
2,357 
334,719 
At 31 December 2022
290,109 
57,273 
2,946 
350,328 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
2,640 
Accrued income and prepayments
8,874 
8,434 
Other debtors
35,000 
- 
43,874 
11,074 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
27,164 
45,866 
Trade creditors
24,305 
25,958 
Taxes and social security
47,644 
29,513 
Other creditors
8,955 
11,303 
Accruals
5,722 
4,065 
113,790 
116,705 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
206,733 
373,966 
- 6 -
T24 Seven Limited Notes to the Accounts for the year ended 31 December 2023
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
16,949 
- 
2023 
2022 
£ 
£ 
Charged to the profit and loss account
16,949 
- 
Provision at end of year
16,949 
- 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
11
Pension commitments
The company pension is a defined contribution pension into the NEST Pension Scheme.
12
Loans to directors
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).
- 7 -