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Registration number: 07475480

33Seconds Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

33Seconds Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

33Seconds Limited

Company Information

Directors

A Regester

D Cook

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

33Seconds Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

57,335

62,601

Current assets

 

Debtors

5

163,176

303,334

Cash at bank and in hand

 

187,087

497,276

 

350,263

800,610

Creditors: Amounts falling due within one year

6

(155,559)

(143,048)

Net current assets

 

194,704

657,562

Net assets

 

252,039

720,163

Capital and reserves

 

Called up share capital

100

100

Retained earnings

251,939

720,063

Shareholders' funds

 

252,039

720,163

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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

 

33Seconds Limited

Statement of Financial Position as at 31 March 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

.........................................

D Cook

Director

Company registration number: 07475480

 

33Seconds Limited

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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of social media marketing.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net assets at 31 March 2023 amounting to £252,039 including cash at bank of £187,087.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. These enquiries include having suitable plans in place to be able to cope with the uncertainties to the business caused by the the cost of living crisis in the UK and the effect of overseas conflicts on the global economy, ensuring recourse to sufficient working capital is available to enable the company to meet its obligations as they fall due.

Accordingly the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of marketing services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue based upon the stage of completion of contractual services when the amount of revenue can be reliably measured.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

33Seconds Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Computer equipment

25% straight line

Home office

over the life of the lease

Fixtures and fittings

25% straight line

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.

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.

 

33Seconds Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 20 (2023 - 29).

4

Tangible assets

Home office
£

Fixtures and fittings
 £

Computer equipment
£

Total
£

Cost or valuation

At 1 April 2023

67,217

11,319

29,171

107,707

Additions

-

-

1,461

1,461

Disposals

-

(6,727)

(9,865)

(16,592)

At 31 March 2024

67,217

4,592

20,767

92,576

Depreciation

At 1 April 2023

8,105

10,662

26,326

45,093

Charge for the year

4,546

245

1,948

6,739

Eliminated on disposal

-

(6,726)

(9,865)

(16,591)

At 31 March 2024

12,651

4,181

18,409

35,241

Carrying amount

At 31 March 2024

54,566

411

2,358

57,335

At 31 March 2023

59,099

657

2,845

62,601

5

Debtors

2024
£

2023
£

Trade debtors

139,635

241,092

Other debtors

23,541

62,242

163,176

303,334

 

33Seconds Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

50,971

63,759

Taxation and social security

67,352

57,247

Accruals and deferred income

3,800

3,900

Other creditors

33,436

18,142

155,559

143,048

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £Nil (2023 - £61,250).

8

Related party transactions

During the year there were advances to a director of £332. At 31 March 2024 an amount of £332 (2023 - £Nil) was due from a director. No interest is payable and there are no set terms in place.