Company registration number 10090270 (England and Wales)
4OURBUSINESS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
4OURBUSINESS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
4OURBUSINESS LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,604
6,283
Current assets
Debtors
4
35,272
51,522
Cash at bank and in hand
9,782
3,132
45,054
54,654
Creditors: amounts falling due within one year
5
(45,873)
(45,989)
Net current (liabilities)/assets
(819)
8,665
Total assets less current liabilities
5,785
14,948
Creditors: amounts falling due after more than one year
6
(4,736)
(7,907)
Provisions for liabilities
(1,049)
(943)
Net assets
6,098
Capital and reserves
Called up share capital
104
104
Profit and loss reserves
(104)
5,994
Total equity
6,098
4OURBUSINESS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
Mr D G Lyons
Director
Company registration number 10090270 (England and Wales)
4OURBUSINESS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
4OURBUSINESS LTD is a private company limited by shares incorporated in England and Wales. The registered office is 16 Heigham Gardens, St. Helens, England, WA9 5WB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises the fair value of the sale of goods and services net of Value Added Tax, rebates and discounts. Sales of goods and services are recognised when the company has delivered the goods and services to the customer and they are accepted.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% Reducing Balance
Computers
33% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
4OURBUSINESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023
8,268
21,929
30,197
Additions
793
3,141
3,934
At 31 March 2024
9,061
25,070
34,131
Depreciation and impairment
At 1 April 2023
5,017
18,897
23,914
Depreciation charged in the year
1,012
2,601
3,613
At 31 March 2024
6,029
21,498
27,527
Carrying amount
At 31 March 2024
3,032
3,572
6,604
At 31 March 2023
3,251
3,032
6,283
4OURBUSINESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
347
17,972
Other debtors
34,925
33,550
35,272
51,522
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,220
5,318
Corporation tax
27,536
26,831
Other creditors
13,117
13,840
45,873
45,989
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,736
7,907
7
Directors' transactions
The below loans are unsecured, interest free and repayable on demand. All the above figures are disclosed on an aggregated basis. The loans were repaid shortly after the year end.
2024
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
D Lyons Directors loan
19,284
39,265
(41,621)
16,928
S Lyons Directors loan
14,062
26,080
(23,121)
17,021
33,346
65,345
(64,742)
33,949
2023
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
D Lyons Director loan
18,638
24,546
(23,900)
19,284
S Lyons Director loan
14,320
23,816
(24,074)
14,062
32,958
48,362
(47,974)
33,346