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Registered number: 13765745
18grams Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Finsbury Robinson Ltd
237 Westcombe Hill
London
SE3 7DW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13765745
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,402 15,337
14,402 15,337
CURRENT ASSETS
Stocks 5 1,000 700
Debtors 13,022 12,239
Cash at bank and in hand 45,307 18,007
59,329 30,946
Creditors: Amounts Falling Due Within One Year (52,569 ) (45,963 )
NET CURRENT ASSETS (LIABILITIES) 6,760 (15,017 )
TOTAL ASSETS LESS CURRENT LIABILITIES 21,162 320
NET ASSETS 21,162 320
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 21,062 220
SHAREHOLDERS' FUNDS 21,162 320
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R D Silaghi
Director
28th February 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
18grams Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13765745 . The registered office is 237 Westcombe Hill, London, SE3 7DW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Tax is recognised in the profit and loss account 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.
3. Average Number of Employees
LAverage number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 14,705 7,091 130 21,926
Additions - 1,422 1,832 3,254
As at 30 November 2024 14,705 8,513 1,962 25,180
Depreciation
As at 1 December 2023 4,783 1,773 33 6,589
Provided during the period 2,480 1,685 24 4,189
As at 30 November 2024 7,263 3,458 57 10,778
Net Book Value
As at 30 November 2024 7,442 5,055 1,905 14,402
As at 1 December 2023 9,922 5,318 97 15,337
5. Stocks
2024 2023
£ £
Stock 1,000 700
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4