Director
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10/12/2024
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Director
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for and on behalf of
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65 Compton Street
London
EC1V 0BN
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2024 | 2023 | |||
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Notes | £ | £ | ||
TURNOVER | 3 |
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GROSS PROFIT |
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Administrative expenses |
( |
( |
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OPERATING LOSS | 4 |
( |
( |
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Interest payable and similar charges | 9 |
( |
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LOSS BEFORE TAXATION |
( |
( |
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Tax on Loss | 10 |
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LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR |
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( |
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2024 | 2023 | |||
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£ | £ | |||
LOSS FOR THE FINANCIAL YEAR |
( |
( |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
( |
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2024 | 2023 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 11 |
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CURRENT ASSETS | |||||
Debtors | 12 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 13 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 14 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 527,810 | 1,128,557 | |||
Director
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Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 July 2022 |
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267,495 |
Loss for the year and total comprehensive income | - |
( |
(1,638,938) |
Arising on shares issued during the period |
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- | 2,500,000 |
As at 30 June 2023 and 1 July 2023 |
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( |
1,128,557 |
Loss for the year and total comprehensive income | - |
( |
(600,747) |
As at 30 June 2024 |
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527,810 |
2024 | 2023 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from/(used in) operations | 1 |
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Interest (paid)/refunded |
( |
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Tax refunded |
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Net cash generated from/(used in) operating activities |
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Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
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Cash flows from financing activities | ||||
Proceeds from issue of share capital |
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Amount withdrawn by directors | (10,000) | - | ||
Net cash (used in)/generated from financing activities |
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Increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 |
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Cash and cash equivalents at end of year | 2 |
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2024 | 2023 | ||
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£ | £ | ||
Loss for the financial year |
( |
( |
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Adjustments for: | |||
Tax on loss | - |
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Interest expense |
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( |
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Depreciation of tangible assets |
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Movements in working capital: | |||
Decrease/(increase) in trade and other debtors |
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( |
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Decrease in trade and other creditors |
( |
( |
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Net cash generated from/(used in) operations |
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( |
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2024 | 2023 | ||
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£ | £ | ||
Cash at bank and in hand |
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As at 1 July 2023 | Cash flows | As at 30 June 2024 | |
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£ | £ | £ | |
Cash at bank and in hand |
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257,821 |
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Plant & Machinery |
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Computer Equipment |
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2024 | 2023 | ||
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£ | £ | ||
Bad debts | 106,591 | - | |
Depreciation of tangible fixed assets |
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2024 | 2023 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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2024 | 2023 | ||
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£ | £ | ||
Wages and salaries |
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Social security costs |
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Other pension costs |
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2024 | 2023 | ||
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Office and administration |
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2024 | 2023 | ||
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£ | £ | ||
Emoluments |
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2024 | 2023 | ||
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£ | £ | ||
Foreign exchange charges |
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( |
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519 | (230) | ||
The tax credit on the loss for the year was as follows:
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Tax Rate | 2024 | 2023 | |||
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2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 19.0% | 19.0% |
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Total tax charge for the period |
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The actual credit for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:
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2024 | 2023 | ||||
£ | £ | ||||
Profit before tax | (600,747) | (1,696,416) | |||
Tax on profit at 19% (UK standard rate) |
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Total tax charge for the period | - | - | |||
Plant & Machinery | Computer Equipment | Total | |
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£ | £ | £ | |
Cost | |||
As at 1 July 2023 |
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Additions |
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As at 30 June 2024 |
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Depreciation | |||
As at 1 July 2023 |
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Provided during the period |
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As at 30 June 2024 |
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Net Book Value | |||
As at 30 June 2024 |
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As at 1 July 2023 |
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2024 | 2023 | ||
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£ | £ | ||
Due within one year | |||
Prepayments and accrued income |
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Corporation tax recoverable assets | - |
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VAT |
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Net wages | 180 | - | |
Directors' loan accounts |
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- | |
Amounts owed by group undertakings |
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Amounts owed by other participating interests | 76,704 | 39,898 | |
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2024 | 2023 | ||
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£ | £ | ||
Trade creditors |
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Other taxes and social security |
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Net wages | - | 2,756 | |
Accruals and deferred income |
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As at 1 July 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 30 June 2024 | |
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£ | £ | £ | £ | £ | |
Mr Tamer Ozmen |
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- |
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