16 01/08/2023 31/07/2024 2024-07-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-08-01 Sage Accounts Production 24.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03700669 2023-08-01 2024-07-31 03700669 2024-07-31 03700669 2023-07-31 03700669 2022-08-01 2023-07-31 03700669 2023-07-31 03700669 2022-07-31 03700669 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03700669 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 03700669 core:MotorVehicles 2023-08-01 2024-07-31 03700669 bus:Director1 2023-08-01 2024-07-31 03700669 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 03700669 core:FurnitureFittingsToolsEquipment 2023-07-31 03700669 core:MotorVehicles 2023-07-31 03700669 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-31 03700669 core:PlantMachinery 2024-07-31 03700669 core:FurnitureFittingsToolsEquipment 2024-07-31 03700669 core:MotorVehicles 2024-07-31 03700669 core:WithinOneYear 2024-07-31 03700669 core:WithinOneYear 2023-07-31 03700669 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 03700669 core:ShareCapital 2023-08-01 2024-07-31 03700669 core:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 03700669 core:AfterOneYear 2024-07-31 03700669 core:AfterOneYear 2023-07-31 03700669 core:ShareCapital 2024-07-31 03700669 core:ShareCapital 2023-07-31 03700669 core:RetainedEarningsAccumulatedLosses 2024-07-31 03700669 core:RetainedEarningsAccumulatedLosses 2023-07-31 03700669 core:PreviouslyStatedAmount core:ShareCapital 2022-07-31 03700669 core:PreviouslyStatedAmount core:RetainedEarningsAccumulatedLosses 2022-07-31 03700669 core:ShareCapital 2022-07-31 03700669 core:RetainedEarningsAccumulatedLosses 2022-07-31 03700669 core:PreviouslyStatedAmount core:ShareCapital 2024-07-31 03700669 core:PlantMachinery 2023-08-01 2024-07-31 03700669 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 03700669 core:FurnitureFittingsToolsEquipment 2023-07-31 03700669 core:MotorVehicles 2023-07-31 03700669 bus:Director1 2023-07-31 03700669 bus:Director1 2024-07-31 03700669 bus:Director1 2022-07-31 03700669 bus:Director1 2023-07-31 03700669 bus:Director1 2022-08-01 2023-07-31 03700669 bus:SmallEntities 2023-08-01 2024-07-31 03700669 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 03700669 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 03700669 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03700669 bus:FullAccounts 2023-08-01 2024-07-31 03700669 1 2023-08-01 2024-07-31
Company registration number: 03700669
21st Century AV Limited
Unaudited filleted financial statements
31 July 2024
21st Century AV Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
21st Century AV Limited
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 301,809 327,016
_______ _______
301,809 327,016
Current assets
Stocks 62,345 42,389
Debtors 6 309,360 364,408
Cash at bank and in hand 1,041,311 1,181,627
_______ _______
1,413,016 1,588,424
Creditors: amounts falling due
within one year 7 ( 825,462) ( 1,025,098)
_______ _______
Net current assets 587,554 563,326
_______ _______
Total assets less current liabilities 889,363 890,342
Creditors: amounts falling due
after more than one year 8 ( 131,519) ( 137,674)
_______ _______
Net assets 757,844 752,668
_______ _______
Capital and reserves
Called up share capital 1,000 60,000
Profit and loss account 756,843 692,667
_______ _______
Shareholders funds 757,843 752,667
_______ _______
For the year ending 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:
- 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 Act 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 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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 April 2025 , and are signed on behalf of the board by:
Mr J Tanda
Director
Company registration number: 03700669
21st Century AV Limited
Statement of changes in equity
Year ended 31 July 2024
Called up share capital Profit and loss account
£ £
At 1 August 2022 (as previously reported) 60,000 439,001
Prior period adjustments (-) (29,577)
_______ _______
At 1 August 2022 (restated) 60,000 409,424
Profit for the year 338,244
_______ _______
Total comprehensive income for the year - 338,244
Dividends paid and payable ( 55,000)
_______ _______
Total investments by and distributions to owners - ( 55,000)
_______ _______
At 31 July 2023 and 1 August 2023 60,000 692,668
Profit for the year 86,176
_______ _______
Total comprehensive income for the year - 86,176
Dividends paid and payable ( 22,000)
Redemption of shares ( 59,000) -
_______ _______
Total investments by and distributions to owners ( 59,000) ( 22,000)
_______ _______
At 31 July 2024 1,000 756,844
_______ _______
21st Century AV Limited
Notes to the financial statements
Year ended 31 July 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 Unit 4 Thames Court, 2 Richfield Avenue, Reading, England, RG1 8EQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Freehold property - 1 % reducing balance
Fittings fixtures and equipment - 33.33 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2023: 15 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 August 2023 299,757 - 89,724 59,950 449,431
Additions - 8,303 3,536 - 11,839
_______ _______ _______ _______ _______
At 31 July 2024 299,757 8,303 93,260 59,950 461,270
_______ _______ _______ _______ _______
Depreciation
At 1 August 2023 20,985 - 56,430 45,000 122,415
Charge for the year 2,998 1,845 17,253 14,950 37,046
_______ _______ _______ _______ _______
At 31 July 2024 23,983 1,845 73,683 59,950 159,461
_______ _______ _______ _______ _______
Carrying amount
At 31 July 2024 275,774 6,458 19,577 - 301,809
_______ _______ _______ _______ _______
At 31 July 2023 278,772 - 33,294 14,950 327,016
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 303,202 364,408
Other debtors 6,158 -
_______ _______
309,360 364,408
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 239,273 54,818
Trade creditors 418,593 630,421
Corporation tax 33,782 151,292
Social security and other taxes 68,680 162,502
Other creditors 65,134 26,065
_______ _______
825,462 1,025,098
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 131,519 137,674
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr J Tanda ( 23,850) ( 23,773) ( 47,623)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr J Tanda ( 29,577) 5,727 ( 23,850)
_______ _______ _______
10. Controlling party
The company is controlled by J Tanda.