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Company Registration No. 07242758 (England and Wales)
1968 Limited Unaudited accounts for the year ended 31 May 2024
1968 Limited Unaudited accounts Contents
Page
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1968 Limited Company Information for the year ended 31 May 2024
Directors
Mr B Schur Mrs J Schur
Company Number
07242758 (England and Wales)
Registered Office
Suite A 82 James Carter Road Mildenhall Suffolk IP28 7DE
Accountants
Simpson Accounting Services 38 Kellington Lane Eggborough North Yorkshire DN14 0LB
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1968 Limited Accountants' report
Accountants' report to the board of directors of 1968 Limited on the preparation of the unaudited statutory accounts for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 1968 Limited for the year ended 31 May 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of 1968 Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of 1968 Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1968 Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that 1968 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 1968 Limited. You consider that 1968 Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of 1968 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Simpson Accounting Services 38 Kellington Lane Eggborough North Yorkshire DN14 0LB 15 July 2024
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1968 Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,909 
5,640 
Current assets
Inventories
305 
305 
Debtors
5,400 
- 
Cash at bank and in hand
229 
3,078 
5,934 
3,383 
Creditors: amounts falling due within one year
(9,073)
(8,395)
Net current liabilities
(3,139)
(5,012)
Net assets
4,770 
628 
Capital and reserves
Called up share capital
80 
80 
Profit and loss account
4,690 
548 
Shareholders' funds
4,770 
628 
For the year ending 31 May 2024 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 15 October 2024 and were signed on its behalf by
Mr B Schur Director Company Registration No. 07242758
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1968 Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
1968 Limited is a private company, limited by shares, registered in England and Wales, registration number 07242758. The registered office is Suite A, 82 James Carter Road, Mildenhall, Suffolk, IP28 7DE.
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
These financial statements for the year ended 31 May 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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, No Depreciation is provivded in the year of acquisition:
Motor vehicles
20%
Fixtures & fittings
20%
Computer equipment
20%
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
5,500 
10,330 
- 
15,830 
Additions
- 
- 
3,397 
3,397 
At 31 May 2024
5,500 
10,330 
3,397 
19,227 
Depreciation
At 1 June 2023
4,518 
5,672 
- 
10,190 
Charge for the year
196 
932 
- 
1,128 
At 31 May 2024
4,714 
6,604 
- 
11,318 
Net book value
At 31 May 2024
786 
3,726 
3,397 
7,909 
At 31 May 2023
982 
4,658 
- 
5,640 
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1968 Limited Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,400 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
660 
602 
Taxes and social security
7,175 
2,705 
Other creditors
- 
456 
Loans from directors
758 
4,632 
Accruals
480 
- 
9,073 
8,395 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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