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REGISTERED NUMBER: 08704405 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

24 FINANCE LIMITED

24 FINANCE LIMITED (REGISTERED NUMBER: 08704405)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


24 FINANCE LIMITED (REGISTERED NUMBER: 08704405)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 325,688 327,654

CURRENT ASSETS
Cash at bank 28,199 21,003

CREDITORS
Amounts falling due within one year 5 300,822 291,329
NET CURRENT LIABILITIES (272,623 ) (270,326 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,065

57,328

PROVISIONS FOR LIABILITIES 16,149 16,641
NET ASSETS 36,916 40,687

CAPITAL AND RESERVES
Called up share capital 6 1 1
Non-distributable reserve 48,447 49,921
Retained earnings (11,532 ) (9,235 )
SHAREHOLDERS' FUNDS 36,916 40,687

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





Miss B Anton - Director


24 FINANCE LIMITED (REGISTERED NUMBER: 08704405)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

24 Finance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08704405

Registered office: 35 Lonsdale Road
London
NW6 6RA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern
As at 31 December 2023, the company had net current liabilities of £272,623. The director believes, after reviewing the business activities of the company, together with the factors likely to affect its future development, its financial position, its exposure to financial risk, and on the basis of funding available, that the company has sufficient resources to continue in operation for the foreseeable future. Therefore, the director believes it appropriate to adopt the going concern basis in preparing financial statements.

Turnover
Turnover represents rental income from operating leases, net of value added tax, and is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase with general inflation in which case the income is recognised as revenue in accordance with the expected payments.

Investment property
Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Income Statement in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES

The average number of employees during the year was NIL (2022 - NIL).

24 FINANCE LIMITED (REGISTERED NUMBER: 08704405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 327,654
Revaluations (1,966 )
At 31 December 2023 325,688
NET BOOK VALUE
At 31 December 2023 325,688
At 31 December 2022 327,654

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 325,688

The director values the company's investment property portfolio annually at the balance sheet date. The director uses their own knowledge and experience to assess the open market value of the property.

The historical cost of the company's investment property is £261,092 (2022 - £261,092).

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 923
Other creditors 300,822 290,406
300,822 291,329

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

7. RELATED PARTY DISCLOSURES

During the year the company was charged interest of £8,276 (2022 - £9,697) on a loan received from a company
under the control of the director.

The company also had expenses paid on its behalf by this related party during the year amounting to £2,104
(2022 - £2,700).

At the balance sheet date, the total due to this related party, included within other creditors falling due within one
year, was £299,553 (2022 - £289,173). This loan is unsecured with no fixed date of repayment.