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REGISTERED NUMBER: 04910421 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

4TH CORNER LIMITED

4TH CORNER LIMITED (REGISTERED NUMBER: 04910421)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


4TH CORNER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: J W A Ransom
Mrs A K Ransom





REGISTERED OFFICE: The Colin Sanders Innovation Centre
Mewburn Road
Banbury
OX16 9PA





REGISTERED NUMBER: 04910421 (England and Wales)





ACCOUNTANTS: Jamesons Limited
Jamesons House
Compton Way
Witney
OX28 3AB

4TH CORNER LIMITED (REGISTERED NUMBER: 04910421)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 288,531 311,977

CURRENT ASSETS
Debtors 5 368,121 459,405
Cash at bank 14,811 233
382,932 459,638
CREDITORS
Amounts falling due within one year 6 333,182 430,321
NET CURRENT ASSETS 49,750 29,317
TOTAL ASSETS LESS CURRENT LIABILITIES 338,281 341,294

CREDITORS
Amounts falling due after more than one
year

7

(285,598

)

(258,495

)

PROVISIONS FOR LIABILITIES (50,399 ) (49,839 )
NET ASSETS 2,284 32,960

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,184 32,860
SHAREHOLDERS' FUNDS 2,284 32,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

4TH CORNER LIMITED (REGISTERED NUMBER: 04910421)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:




J W A Ransom - Director



Mrs A K Ransom - Director


4TH CORNER LIMITED (REGISTERED NUMBER: 04910421)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

4th Corner Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of 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 from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4TH CORNER LIMITED (REGISTERED NUMBER: 04910421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 36 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 654,030
Additions 51,143
At 29 February 2024 705,173
DEPRECIATION
At 1 March 2023 342,053
Charge for year 74,589
At 29 February 2024 416,642
NET BOOK VALUE
At 29 February 2024 288,531
At 28 February 2023 311,977

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 222,747 361,379
Other debtors 122,649 82,692
345,396 444,071

Amounts falling due after more than one year:
Other debtors 22,725 15,334

Aggregate amounts 368,121 459,405

4TH CORNER LIMITED (REGISTERED NUMBER: 04910421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 93,080 130,637
Hire purchase contracts (see note 8) 58,685 77,124
Trade creditors 21,753 76,047
Taxation and social security 139,214 124,777
Other creditors 20,450 21,736
333,182 430,321

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 200,334 144,929
Hire purchase contracts (see note 8) 85,264 113,566
285,598 258,495

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 58,685 77,124
Between one and five years 85,264 113,566
143,949 190,690

Non-cancellable operating leases
2024 2023
£    £   
Within one year 2,273 30,452

4TH CORNER LIMITED (REGISTERED NUMBER: 04910421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 143,949 190,690
Bank Loans 43,263 74,712
187,212 265,402

HSBC hold a fixed and floating charge over all assets. The floating charge covers all the property or undertaking of the company, dated 7th June 2018. Hire Purchase and Finance Lease liabilities are secured directly over the assets to which they relate.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors' subsisted during the years ended 29 February 2024 and 28 February 2023:

20232023
££

Balance outstanding at start of year75,10794,183
Amounts advanced98,730164,421
Amounts repaid(51,500)(183,497)
Amounts written off--
Amounts waived--
Balance outstanding at end of the year122,33775,107

The advances were subject to interest at the HMRC approved rate, unsecured and repayable on demand.