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Registered Number: 08158915
England and Wales

 

 

 

55 SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Directors Steven Price
Rebecca Jayne Last
Registered Number 08158915
Registered Office Melanie Curtis Accountants Ltd
65 Peach Street
Berkshire
Wokingham
RG40 1XP
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 July 2024.
Principal activities
Principal activity of the company during the financial year was of executive PA services, marketing, support and consultative business services.
Directors
The directors who served the company throughout the year were as follows:
Steven Price
Rebecca Jayne Last

This report was approved by the board and signed on its behalf by:


----------------------------------
Steven Price
Director

Date approved: 13 November 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 12,898    15,543 
12,898    15,543 
Current assets      
Debtors 5 1,328    4,913 
Cash at bank and in hand 1,222    4,890 
2,550    9,803 
Creditors: amount falling due within one year 6 (232,369)   (213,296)
Net current assets (229,819)   (203,493)
 
Total assets less current liabilities (216,921)   (187,950)
Net assets (216,921)   (187,950)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (217,021)   (188,050)
Shareholders' funds (216,921)   (187,950)
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 November 2024 and were signed on its behalf by:


-------------------------------
Steven Price
Director
3
General Information
55 Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 08158915, registration address Melanie Curtis Accountants Ltd, 65 Peach Street, Berkshire, Wokingham, RG40 1XP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102.1A The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Fundemental uncertainties
The company meets its day to day working capital requirements partially through the support of its creditors. The director has considered the projected cash flow information for the company during the foreseeable post year-end period. On the basis of this cash flow information and discussions with the company's creditors, the director considers that the company will continue to operate within the available finance facilities. However the margin of finance facilities over requirements is not large and, inherently there can be no certainty in relation to this matter. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the company's creditors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:



Land and Buildings 10% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 August 2023 16,500    16,500 
Additions  
Disposals  
At 31 July 2024 16,500    16,500 
Amortisation
At 01 August 2023 16,500    16,500 
Charge for year  
On disposals  
At 31 July 2024 16,500    16,500 
Net book values
At 31 July 2024  
At 31 July 2023  


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 August 2023 8,000    2,361    15,808    26,169 
Additions     1,936    1,936 
Disposals      
At 31 July 2024 8,000    2,361    17,744    28,105 
Depreciation
At 01 August 2023 2,467    1,126    7,033    10,626 
Charge for year 800    472    3,309    4,581 
On disposals      
At 31 July 2024 3,267    1,598    10,342    15,207 
Net book values
Closing balance as at 31 July 2024 4,733    763    7,402    12,898 
Opening balance as at 01 August 2023 5,533    1,235    8,775    15,543 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors  
Prepayments & Accrued Income 213    770 
Taxation Recoverable 1,115    4,143 
1,328    4,913 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued Expenses   1,500 
Directors' Current Accounts 232,369    211,796 
232,369    213,296 

4