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Registered number: 13006422
SEVENTY EVENTS LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Brooks & Partners Accountants Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 13006422
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72,546 89,929
72,546 89,929
CURRENT ASSETS
Debtors 5 143,628 170,779
Cash at bank and in hand 535,748 302,947
679,376 473,726
Creditors: Amounts Falling Due Within One Year 6 (363,824 ) (232,484 )
NET CURRENT ASSETS (LIABILITIES) 315,552 241,242
TOTAL ASSETS LESS CURRENT LIABILITIES 388,098 331,171
Creditors: Amounts Falling Due After More Than One Year 7 (57,079 ) (70,608 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (15,545 ) -
NET ASSETS 315,474 260,563
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 315,374 260,463
SHAREHOLDERS' FUNDS 315,474 260,563
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
C Newsome
Director
R Sargood
Director
16 May 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SEVENTY EVENTS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 13006422 . The registered office is Willow View, Main Road, Tallington, Stamford, Lincolnshire, PE9 4RP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has been invoiced for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% straight line
Computer Equipment 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 7)
7 7
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 92,476 11,743 104,219
Additions - 4,303 4,303
As at 31 December 2023 92,476 16,046 108,522
Depreciation
As at 1 January 2023 11,439 2,851 14,290
Provided during the period 18,495 3,191 21,686
As at 31 December 2023 29,934 6,042 35,976
...CONTINUED
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Net Book Value
As at 31 December 2023 62,542 10,004 72,546
As at 1 January 2023 81,037 8,892 89,929
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
as restated
£ £
Motor Vehicles 62,542 81,037
5. Debtors
2023 2022
as restated
£ £
Due within one year
Trade debtors 133,442 162,346
Other debtors 10,186 8,433
143,628 170,779
6. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Net obligations under finance lease and hire purchase contracts 13,027 13,027
Other creditors 223,820 141,742
Taxation and social security 126,977 77,715
363,824 232,484
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
as restated
£ £
Net obligations under finance lease and hire purchase contracts 57,079 70,608
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8. Obligations Under Finance Leases and Hire Purchase
2023 2022
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,027 13,027
Later than one year and not later than five years 57,079 70,608
70,106 83,635
70,106 83,635
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
as restated
£ £
Other timing differences 15,545 -
10. Share Capital
2023 2022
as restated
£ £
Allotted, Called up and fully paid 100 100
11. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £760 (2022: £213) were due to the fund. They are included in Other Creditors.
12. Dividends
2023 2022
as restated
£ £
On equity shares:
Interim dividend paid 102,800 57,049
Final dividend paid 24,800 34,800
127,600 91,849
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