Company Registration No. 04892985 (England and Wales)
T24 Seven Limited
Unaudited accounts
for the year ended 31 December 2024
T24 Seven Limited
Unaudited accounts
Contents
T24 Seven Limited
Company Information
for the year ended 31 December 2024
Directors
Mr N Horne
Mrs N Horne
Company Number
04892985 (England and Wales)
Registered Office
UNIT 4G SOUTH HAMS BUSINESS PARK
CHURCHSTOW
KINGSBRIDGE
DEVON
TQ7 3QH
ENGLAND
Accountants
Helen Solomon Ltd
Unit 4G
South Hams Business Park
Kingsbridge
Devon
TQ7 3QH
T24 Seven Limited
Statement of financial position
as at 31 December 2024
Intangible assets
-
21,083
Tangible assets
420,086
334,719
Cash at bank and in hand
119,266
73,282
Creditors: amounts falling due within one year
(142,987)
(113,790)
Net current assets
58,411
23,932
Total assets less current liabilities
478,497
379,734
Creditors: amounts falling due after more than one year
(193,962)
(206,733)
Provisions for liabilities
Deferred tax
(42,890)
(16,949)
Net assets
241,645
156,052
Called up share capital
100
100
Profit and loss account
241,545
155,952
Shareholders' funds
241,645
156,052
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by
Mr N Horne
Director
Company Registration No. 04892985
T24 Seven Limited
Notes to the Accounts
for the year ended 31 December 2024
T24 Seven Limited is a private company, limited by shares, registered in England and Wales, registration number 04892985. The registered office is UNIT 4G SOUTH HAMS BUSINESS PARK, CHURCHSTOW, KINGSBRIDGE, DEVON, TQ7 3QH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
The building structure current value exceeds cost, so is not depreciated.
Plant & machinery
20% Reducing Balance pa and 8% Straight Line pa on Plant within the buildings
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
At 31 December 2024
115,000
Charge for the year
21,083
At 31 December 2024
115,000
At 31 December 2023
21,083
Goodwill has been acquired on the purchase of the business on 2nd December 2019. It will be amortised equally over 5 years.
T24 Seven Limited
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
313,365
105,114
-
4,456
422,935
Additions
24,521
37,260
57,846
-
119,627
At 31 December 2024
337,886
142,374
57,846
4,456
542,562
At 1 January 2024
30,200
55,917
-
2,099
88,216
Charge for the year
13,337
8,883
11,569
471
34,260
At 31 December 2024
43,537
64,800
11,569
2,570
122,476
At 31 December 2024
294,349
77,574
46,277
1,886
420,086
At 31 December 2023
283,165
49,197
-
2,357
334,719
Amounts falling due within one year
Accrued income and prepayments
23,436
8,874
Other debtors
35,000
35,000
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
8,750
-
Obligations under finance leases and hire purchase contracts
12,107
-
Trade creditors
27,425
24,305
Taxes and social security
46,153
47,644
Other creditors
11,239
8,955
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
48,784
-
Loans from directors
110,322
206,733
T24 Seven Limited
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The company pension is a defined contribution pension into the NEST Pension Scheme.
The Directors have loaned the company £110,322 (£206,733 at 31/12/2023) to enable it to purchase the business and to update the plant and equipment of the business. Repayments of the loan will be made when there is sufficient funds in the company to do so, there is currently no agreed repayment date or method.
12
Transactions with related parties
Dividends totalling £60,000 were paid during the year to the shareholders who are also the directors of the company.
A formal loan of £35,000 has been made to Salcombe Suppers Ltd a company controlled by family members of the Directors.
13
Average number of employees
During the year the average number of employees was 26 (2023: 26).