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Registered number: 12729443














42STATS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

 
42STATS LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 7


 
42STATS LIMITED
REGISTERED NUMBER:12729443

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
14,011
19,150

  
14,011
19,150

Current assets
  

Debtors: amounts falling due within one year
 5 
503,843
97,106

Bank and cash balances
  
349,971
830,806

  
853,814
927,912

Creditors: amounts falling due within one year
 6 
(57,261)
(180,053)

Net current assets
  
 
 
796,553
 
 
747,859

Total assets less current liabilities
  
810,564
767,009

  

Net assets
  
810,564
767,009


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
810,563
767,008

  
810,564
767,009


Page 1

 
42STATS LIMITED
REGISTERED NUMBER:12729443
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2024.




D Mistry
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
42STATS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

42Stats Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, England, WD6 1JD.
The principal activity of the Company during the year was that of a management consultancy. 
The financial statements are presented in £ sterling, which is the functional currency of the Company.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

TURNOVER

Turnover comprises of revenue recognised in respect of services provided in the year, net of trade discounts and excluding Value Added Tax. Revenue from services is recognised when all contractual obligations have been met.
Consultancy services are recognised in the period to which they relate.

Page 3

 
42STATS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 4

 
42STATS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Straight-line
Computer equipment
-
33%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

BASIC FINANCIAL INSTRUMENTS

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand.
Trade debtors and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade creditors and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors.
Cash and cash equivalents comprise cash balances and call deposits.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 2 (2022 - 1).

Page 5

 
42STATS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
17,933
11,318
29,251


Additions
-
252
252



At 31 December 2023

17,933
11,570
29,503



Depreciation


At 1 January 2023
4,484
5,615
10,099


Charge for the period on owned assets
3,420
1,973
5,393



At 31 December 2023

7,904
7,588
15,492



Net book value



At 31 December 2023
10,029
3,982
14,011



At 31 December 2022
13,448
5,702
19,150


5.


DEBTORS

2023
2022
£
£


Other debtors
503,843
97,106

503,843
97,106


Included within other debtors is a loan to the Director, amounting to £313,384 (2022 - £Nil) upon which  interest has been charged at a rate of 2% - 2.25%. The full balance of the loan has been repaid within 9 months of the year end of these financial statements.

 Also included in other debtors is a loan of £111,727 (2022: 97,106) advanced from a related party under common control of the director. The loan is interest free and payable on demand.

Page 6

 
42STATS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
767
445

Other taxation and social security
45,893
142,874

Other creditors
6,351
35,484

Accruals and deferred income
4,250
1,250

57,261
180,053



7.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary shares share of £1
1
1


 
Page 7