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Registered Number: 12424257
England and Wales

 

 

 


Unaudited Financial Statements


for the year ended 31 January 2025

for

670 GRAMS LTD

 
 
Notes
 
2025
£
  2024
£
Turnover 355,448    372,257 
Cost of sales (178,420)   (177,237)
Gross profit 177,028    195,020 
Administrative expenses (141,368)   (114,149)
Operating profit 35,660    80,871 
Interest payable and similar charges (4,114)   (226)
Profit/(Loss) on ordinary activities before taxation 31,546    80,645 
Tax on profit on ordinary activities (2,595)   (14,131)
Profit/(Loss) for the financial year 28,951    66,514 
 
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 97,513    60,445 
97,513    60,445 
Current assets      
Stocks 4 1,250    1,471 
Debtors 5 2,870    41,700 
Cash at bank and in hand 44,692    20,893 
48,812    64,064 
Creditors: amount falling due within one year 6 (103,561)   (73,658)
Net current assets (54,749)   (9,594)
 
Total assets less current liabilities 42,764    50,851 
Creditors: amount falling due after more than one year 7 (20,662)  
Net assets 22,102    50,851 
 

Capital and reserves
     
Called up share capital 8 1    1 
Profit and loss account 22,101    50,850 
Shareholders' funds 22,102    50,851 
 


For the year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 June 2025 and were signed by:


-------------------------------
K Treadwell
Director
2
General Information
670 Grams Ltd is a private company, limited by shares, registered in England and Wales, registration number 12424257, registration address Crosby Court, 28 George Street, Birmingham, B3 1QG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Debtors and creditors receivable or payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in the other administrative expenses.

Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts at a discounted at a market rate of interest.
Financial assets are classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimate future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event accruing after impairment was recognized, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised.
The impairment reversal is recognised in the profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has been transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs using the effective interest method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designed as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instrument are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
Improvements to property 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 9 (2024 : 10).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £   £   £
At 01 February 2024 42,038      10,587    3,039    27,794    83,458 
Additions 4,049    6,000    11,581      34,600    56,230 
Disposals          
At 31 January 2025 46,087    6,000    22,168    3,039    62,394    139,688 
Depreciation
At 01 February 2024 10,498      4,003    2,774    5,738    23,013 
Charge for year 8,771      2,859    265    7,267    19,162 
On disposals          
At 31 January 2025 19,269      6,862    3,039    13,005    42,175 
Net book values
Closing balance as at 31 January 2025 26,818    6,000    15,306      49,389    97,513 
Opening balance as at 01 February 2024 31,540      6,584    265    22,056    60,445 


4.

Stocks

2025
£
  2024
£
Stocks 1,250    1,471 
1,250    1,471 

5.

Debtors: amounts falling due within one year

2025
£
  2024
£
Other Debtors 126    91 
126    91 

5.

Debtors: amounts falling due after one year

2025
£
  2024
£
Other Debtors 2,744    41,609 
2,744    41,609 

6.

Creditors: amount falling due within one year

2025
£
  2024
£
Trade Creditors 23,416    9,027 
Taxation and Social Security 66,485    48,120 
Other Creditors 13,660    16,511 
103,561    73,658 

7.

Creditors: amount falling due after more than one year

2025
£
  2024
£
Other Creditors 20,662   
20,662   

8.

Share Capital

Allotted, called up and fully paid
2025
£
  2024
£
1 share of £1.00 each  
 

3