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REGISTERED NUMBER: SC656838 (Scotland)












Financial Statements

for the Year Ended 31 May 2024

for

Eighteen Forty One Ltd

Eighteen Forty One Ltd (Registered number: SC656838)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Eighteen Forty One Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: G Dick
R C Jenkins





REGISTERED OFFICE: Radleigh House
1 Golf Road
Glasgow
G76 7HU





REGISTERED NUMBER: SC656838 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Eighteen Forty One Ltd (Registered number: SC656838)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 70,544 70,692

CURRENT ASSETS
Debtors 4 6,005 31,430
Cash at bank and in hand 115,371 97,457
121,376 128,887
CREDITORS
Amounts falling due within one year 5 47,566 51,910
NET CURRENT ASSETS 73,810 76,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,354

147,669

CREDITORS
Amounts falling due after more than one year 6 (14,299 ) (24,173 )

PROVISIONS FOR LIABILITIES (17,289 ) (13,431 )
NET ASSETS 112,766 110,065

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 112,666 109,965
SHAREHOLDERS' FUNDS 112,766 110,065

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

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

Eighteen Forty One Ltd (Registered number: SC656838)

Balance Sheet - continued
31 May 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 9 January 2025 and were signed on its behalf by:





G Dick - Director


Eighteen Forty One Ltd (Registered number: SC656838)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

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.

Eighteen Forty One Ltd (Registered number: SC656838)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

1. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 7 ) .

3. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 52,892 24,791 625 2,044 80,352
Additions 1,386 5,643 - 226 7,255
At 31 May 2024 54,278 30,434 625 2,270 87,607
DEPRECIATION
At 1 June 2023 3,083 5,590 120 867 9,660
Charge for year 1,070 5,622 76 635 7,403
At 31 May 2024 4,153 11,212 196 1,502 17,063
NET BOOK VALUE
At 31 May 2024 50,125 19,222 429 768 70,544
At 31 May 2023 49,809 19,201 505 1,177 70,692

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,507 7,982
Intercompany Debtor- Thomsons - 19,000
Prepayments and accrued income 4,498 4,448
6,005 31,430

Eighteen Forty One Ltd (Registered number: SC656838)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,058 2,938
Tax 7,233 11,341
Social security and other taxes (853 ) 2,765
VAT 9,909 9,508
Inter Co: Its Lunacy Ltd < 1 y 10,648 10,648
Other creditors 67 -
Directors' current accounts 2 2
Accrued expenses 16,502 14,708
47,566 51,910

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Inter Co- Its Lunacy > 1 yr 14,299 24,173

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

8. RESERVES
Retained
earnings
£   

At 1 June 2023 109,965
Profit for the year 25,445
Dividends (22,744 )
At 31 May 2024 112,666