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Registration number: 09394378

Nine Four Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Nine Four Ltd.

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Nine Four Ltd.

(Registration number: 09394378)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,763

9,018

Current assets

 

Stocks

6

4,860

1,051

Debtors

7

5,642

7,592

Cash at bank and in hand

 

22,729

25,661

 

33,231

34,304

Creditors: Amounts falling due within one year

8

(21,340)

(17,489)

Net current assets

 

11,891

16,815

Total assets less current liabilities

 

18,654

25,833

Creditors: Amounts falling due after more than one year

8

(2,682)

(6,523)

Net assets

 

15,972

19,310

Capital and reserves

 

Called up share capital

100

100

Retained earnings

15,872

19,210

Shareholders' funds

 

15,972

19,310

 

Nine Four Ltd.

(Registration number: 09394378)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

.........................................
Mr P Cripps
Director

 

Nine Four Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of website design and development. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

 

Nine Four Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for website design and development services performed in the ordinary course of business.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Nine Four Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

15,000

15,000

At 31 March 2024

15,000

15,000

Amortisation

At 1 April 2023

15,000

15,000

At 31 March 2024

15,000

15,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

17,132

17,132

At 31 March 2024

17,132

17,132

Depreciation

At 1 April 2023

8,114

8,114

Charge for the year

2,255

2,255

At 31 March 2024

10,369

10,369

Carrying amount

At 31 March 2024

6,763

6,763

At 31 March 2023

9,018

9,018

6

Stocks

2024
£

2023
£

Work in progress

4,860

1,051

 

Nine Four Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

5,642

7,592

 

5,642

7,592

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

2,549

3,061

Trade creditors

 

1,080

-

Taxation and social security

 

14,783

11,044

Other creditors

 

2,928

3,384

 

21,340

17,489

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

2,682

6,523

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,549

3,061

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,682

6,523

 

Nine Four Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Related party transactions

Other transactions with directors

P Cripps had a loan with the company. At the balance sheet date the amount owed to P Cripps was £2,928 (2023: £2,626)