2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-24 Sage Accounts Production Advanced 2023 - FRS102_2023 1,798 1,798 208 208 1,590 xbrli:pure xbrli:shares iso4217:GBP 14957851 2023-06-24 2024-06-30 14957851 2024-06-30 14957851 2023-06-23 14957851 bus:OrdinaryShareClass1 2023-06-24 2024-06-30 14957851 bus:Director1 2023-06-24 2024-06-30 14957851 core:WithinOneYear 2024-06-30 14957851 core:ShareCapital 2024-06-30 14957851 core:RetainedEarningsAccumulatedLosses 2024-06-30 14957851 bus:SmallEntities 2023-06-24 2024-06-30 14957851 bus:AuditExemptWithAccountantsReport 2023-06-24 2024-06-30 14957851 bus:SmallCompaniesRegimeForAccounts 2023-06-24 2024-06-30 14957851 bus:PrivateLimitedCompanyLtd 2023-06-24 2024-06-30 14957851 bus:FullAccounts 2023-06-24 2024-06-30 14957851 bus:OrdinaryShareClass1 2024-06-30 14957851 core:OfficeEquipment 2023-06-24 2024-06-30 14957851 core:OfficeEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 14957851
19SeventyOne Limited
Filleted Unaudited Financial Statements
Period ending
30 June 2024
19SeventyOne Limited
Financial Statements
Period from 24 June 2023 to 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
19SeventyOne Limited
Statement of Financial Position
30 June 2024
30 Jun 24
Note
£
£
Fixed assets
Tangible assets
6
1,590
Current assets
Debtors
7
18,421
Cash at bank and in hand
6,085
--------
24,506
Creditors: amounts falling due within one year
8
27,277
--------
Net current liabilities
2,771
-------
Total assets less current liabilities
( 1,181)
-------
Net liabilities
( 1,181)
-------
Capital and reserves
Called up share capital
9
10
Profit and loss account
( 1,191)
-------
Shareholder deficit
( 1,181)
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
19SeventyOne Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 6 March 2025 , and are signed on behalf of the board by:
S McClean
Director
Company registration number: 14957851
19SeventyOne Limited
Notes to the Financial Statements
Period from 24 June 2023 to 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Cambridge Close, Stock, Ingatestone, CM4 9FA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the director. The director has indicated their willingness to support the company in the foreseeable future by ensuring sufficient funds are available for the company to continue trading. Therefore the director considers the going concern basis is appropriate.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 .
5. Dividends
During the year the company paid dividends in excess of its distributable profit in contravention of section 830 of the Companies Act 2006. The director was not aware that this had occurred at the time the dividend was paid. The error occurred owing to a miscalculation of the profits. The shareholder is aware of his responsibilities.
6. Tangible assets
Equipment
£
Cost
At 24 June 2023
Additions
1,798
-------
At 30 June 2024
1,798
-------
Depreciation
At 24 June 2023
Charge for the period
208
-------
At 30 June 2024
208
-------
Carrying amount
At 30 June 2024
1,590
-------
7. Debtors
30 Jun 24
£
Trade debtors
1,174
Other debtors
17,247
--------
18,421
--------
8. Creditors: amounts falling due within one year
30 Jun 24
£
Accruals and deferred income
1,500
Corporation tax
20,268
Social security and other taxes
5,509
--------
27,277
--------
9. Called up share capital
Issued, called up and fully paid
30 Jun 24
No.
£
Ordinary shares of £ 1 each
10
10
----
----
On incorporation 10 Ordinary shares were issued and paid for at a value of £1 per share.
10. Director's advances, credits and guarantees
At the balance sheet date the director owed the company £16,718 in the form of a loan account. This loan, which is shown amongst debtors, had interest charged on it of £49 and is repayable on demand. The maximum amount outstanding in the period was £16,738.