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REGISTERED NUMBER: 07343392 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

29 FLEET STREET LIMITED

29 FLEET STREET LIMITED (REGISTERED NUMBER: 07343392)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


29 FLEET STREET LIMITED

Company Information
for the year ended 31 March 2024







Directors: Dr R M Dawood
Ms G E Whitby





Registered office: 29 Fleet Street
London
EC4Y 1AA





Registered number: 07343392 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor, Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

29 FLEET STREET LIMITED (REGISTERED NUMBER: 07343392)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 - 25,000
Tangible assets 5 660,473 834,816
660,473 859,816

Current assets
Stocks 186,094 157,369
Debtors 6 1,062,535 782,386
Cash at bank 531,022 697,547
1,779,651 1,637,302
Creditors
Amounts falling due within one year 7 253,457 271,857
Net current assets 1,526,194 1,365,445
Total assets less current liabilities 2,186,667 2,225,261

Provisions for liabilities 138,108 181,466
Net assets 2,048,559 2,043,795

Capital and reserves
Called up share capital 8 572 572
Retained earnings 9 2,047,987 2,043,223
Shareholders' funds 2,048,559 2,043,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

29 FLEET STREET LIMITED (REGISTERED NUMBER: 07343392)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Dr R M Dawood - Director


29 FLEET STREET LIMITED (REGISTERED NUMBER: 07343392)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

29 Fleet Street 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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating amortisation of goodwill. A full line by line review of intangible assets is carried out by management regularly. Whilst every attempt is made to ensure that the amortisation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the intangible assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating stock provisions. A full line by line review of stock is carried out at the end of each month. Whilst every attempt is made to ensure that the stock provisions are as accurate as possible, there remains a risk that the provisions do not match the level of stock which ultimately prove to be obsolete.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

29 FLEET STREET LIMITED (REGISTERED NUMBER: 07343392)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are integral part of the company’s cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the incorporation of the business in 2015, is being amortised evenly over its estimated useful life of 10 years.

3. Employees and directors

The average number of employees during the year was 25 (2023 - 37 ) .

29 FLEET STREET LIMITED (REGISTERED NUMBER: 07343392)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
and 31 March 2024 250,000
Amortisation
At 1 April 2023 225,000
Amortisation for year 25,000
At 31 March 2024 250,000
Net book value
At 31 March 2024 -
At 31 March 2023 25,000

5. Tangible fixed assets
Fixtures
Improvements Plant and and
to property machinery fittings
£ £ £
Cost
At 1 April 2023 93,800 1,290,068 19,598
Additions - 3,481 4,539
At 31 March 2024 93,800 1,293,549 24,137
Depreciation
At 1 April 2023 - 631,707 13,338
Charge for year - 165,461 2,160
At 31 March 2024 - 797,168 15,498
Net book value
At 31 March 2024 93,800 496,381 8,639
At 31 March 2023 93,800 658,361 6,260

29 FLEET STREET LIMITED (REGISTERED NUMBER: 07343392)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. Tangible fixed assets - continued

Motor Computer
vehicles equipment Totals
£ £ £
Cost
At 1 April 2023 55,923 156,156 1,615,545
Additions - 5,808 13,828
At 31 March 2024 55,923 161,964 1,629,373
Depreciation
At 1 April 2023 47,430 88,254 780,729
Charge for year 2,123 18,427 188,171
At 31 March 2024 49,553 106,681 968,900
Net book value
At 31 March 2024 6,370 55,283 660,473
At 31 March 2023 8,493 67,902 834,816

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 121,846 101,512
Other debtors 940,689 680,874
1,062,535 782,386

7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 154,019 301,450
Amounts owed to group undertakings 2,000 -
Taxation and social security 62,621 (71,347 )
Other creditors 34,817 41,754
253,457 271,857

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
400 Ordinary £1 400 400
172 Redeemable £1 172 172
572 572

29 FLEET STREET LIMITED (REGISTERED NUMBER: 07343392)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


9. Reserves
Retained
earnings
£

At 1 April 2023 2,043,223
Profit for the year 106,764
Dividends (102,000 )
At 31 March 2024 2,047,987

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£ £
Dr R M Dawood and Ms G E Whitby
Balance outstanding at start of year (2,153 ) 1,706,406
Amounts advanced 1,297 -
Amounts repaid - (1,708,559 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (856 ) (2,153 )