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REGISTERED NUMBER: 09052631 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

24/7 BUSINESS SUPPORT LTD

24/7 BUSINESS SUPPORT LTD (REGISTERED NUMBER: 09052631)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


24/7 BUSINESS SUPPORT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs J M Towart
Mrs C M Towart-Adams





REGISTERED OFFICE: Planet House
Northumbrian Way
Killingworth
Newcastle upon Tyne
NE12 6EH





REGISTERED NUMBER: 09052631 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

24/7 BUSINESS SUPPORT LTD (REGISTERED NUMBER: 09052631)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 19,384 27,173
19,384 27,173

CURRENT ASSETS
Stocks 6 400 11,769
Debtors 7 88,683 99,259
Cash at bank 191,609 80,384
280,692 191,412
CREDITORS
Amounts falling due within one year 8 132,786 100,438
NET CURRENT ASSETS 147,906 90,974
TOTAL ASSETS LESS CURRENT
LIABILITIES

167,290

118,147

CREDITORS
Amounts falling due after more than one
year

9

(11,107

)

(26,657

)

PROVISIONS FOR LIABILITIES (4,846 ) (6,793 )
NET ASSETS 151,337 84,697

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 151,336 84,696
SHAREHOLDERS' FUNDS 151,337 84,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

24/7 BUSINESS SUPPORT LTD (REGISTERED NUMBER: 09052631)

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





Mrs J M Towart - Director


24/7 BUSINESS SUPPORT LTD (REGISTERED NUMBER: 09052631)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

24/7 Business Support Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Income is recognised in the period in which the service is provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been fully amortised as of the balance sheet date.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


24/7 BUSINESS SUPPORT LTD (REGISTERED NUMBER: 09052631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 1,000
AMORTISATION
At 1 July 2023
and 30 June 2024 1,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

24/7 BUSINESS SUPPORT LTD (REGISTERED NUMBER: 09052631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 60,783
Additions 1,589
At 30 June 2024 62,372
DEPRECIATION
At 1 July 2023 33,610
Charge for year 9,378
At 30 June 2024 42,988
NET BOOK VALUE
At 30 June 2024 19,384
At 30 June 2023 27,173

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 34,364
DEPRECIATION
At 1 July 2023 18,649
Charge for year 3,928
At 30 June 2024 22,577
NET BOOK VALUE
At 30 June 2024 11,787
At 30 June 2023 15,715

6. STOCKS
2024 2023
£    £   
Stocks 400 11,769

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,415 83,986
Other debtors 9,268 15,273
88,683 99,259

24/7 BUSINESS SUPPORT LTD (REGISTERED NUMBER: 09052631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 10) 5,550 5,144
Trade creditors 14,540 11,746
Taxation and social security 55,307 22,746
Other creditors 47,389 50,802
132,786 100,438

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,167 19,167
Hire purchase contracts (see note 10) 1,940 7,490
11,107 26,657

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 5,550 5,144
Between one and five years 1,940 7,490
7,490 12,634

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 7,490 12,634

The hire purchase contract is secured on the asset to which it relates.

12. CALLED UP SHARE CAPITAL

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

13. RELATED PARTY DISCLOSURES

During the year a director maintained an interest free loan to the company. The balance outstanding at 30 June 2024 is £42 (2023: £42).