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Registration number: 11868865

One Plus Four Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

One Plus Four Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

One Plus Four Ltd

(Registration number: 11868865)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

16,578

19,915

Tangible assets

5

2,301,278

2,590,884

Investments

6

2

2

 

2,317,858

2,610,801

Current assets

 

Debtors

7

1,533,284

1,545,315

Cash at bank and in hand

 

19,655

44,982

 

1,552,939

1,590,297

Creditors: Amounts falling due within one year

8

(1,690,109)

(1,516,394)

Net current (liabilities)/assets

 

(137,170)

73,903

Total assets less current liabilities

 

2,180,688

2,684,704

Creditors: Amounts falling due after more than one year

8

(5,087,459)

(4,486,687)

Net liabilities

 

(2,906,771)

(1,801,983)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(2,906,772)

(1,801,984)

Shareholders' deficit

 

(2,906,771)

(1,801,983)

 

One Plus Four Ltd

(Registration number: 11868865)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 June 2025 and signed on its behalf by:
 

.........................................
Miss A Moore
Director

   
     
 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
New Century
34 Hanover Street
Manchester
M4 4AH

These financial statements were authorised for issue by the Board on 24 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group..

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has a good working relationship with its creditors and received assurances from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

AV Equipment

10% straight line on cost

Computer equipment

33.33% straight line on cost

Furniture

33.33% straight line on cost

Leasehold improvements

Over the term of the lease on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Leasehold costs

Over 3 years and over the term of the lease

Brand and website development

20% straight line on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 13).

 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Leasehold costs
 £

Branding and website development
 £

Total
£

Cost or valuation

At 1 September 2023

16,635

11,394

28,029

At 31 August 2024

16,635

11,394

28,029

Amortisation

At 1 September 2023

5,645

2,469

8,114

Amortisation charge

1,058

2,279

3,337

At 31 August 2024

6,703

4,748

11,451

Carrying amount

At 31 August 2024

9,932

6,646

16,578

At 31 August 2023

10,990

8,925

19,915

5

Tangible assets

Furniture, fittings and equipment
 £

Leasehold improvements
 £

Total
£

Cost or valuation

At 1 September 2023

584,919

2,318,990

2,903,909

Additions

2,587

-

2,587

Disposals

-

(650)

(650)

At 31 August 2024

587,506

2,318,340

2,905,846

Depreciation

At 1 September 2023

133,628

179,397

313,025

Charge for the year

125,901

165,642

291,543

At 31 August 2024

259,529

345,039

604,568

Carrying amount

At 31 August 2024

327,977

1,973,301

2,301,278

At 31 August 2023

451,291

2,139,593

2,590,884

 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 September 2023

2

Provision

Carrying amount

At 31 August 2024

2

At 31 August 2023

2

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

New Century Hall Ltd

United Kingdom

Ordinary

100%

100%

New Century Kitchen Ltd

United Kingdom

Ordinary

100%

100%

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

79,523

-

Amounts owed by group undertakings and undertakings in which the company has a participating interest

639,120

732,502

Prepayments

 

201,337

272,380

Other debtors

 

613,304

540,433

 

1,533,284

1,545,315

 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

244,051

224,934

Trade creditors

 

444,133

116,460

Taxation and social security

 

-

54,160

Accruals and deferred income

 

312,795

281,196

Other creditors

 

689,130

839,644

 

1,690,109

1,516,394

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

5,087,459

4,486,687

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

5,087,459

4,431,999

Finance lease liabilities

-

54,688

5,087,459

4,486,687

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

54,688

57,750

Other borrowings

189,363

167,184

244,051

224,934

Secured creditors

Other borrowings are secured by way of a floating charge in favour of Creative Business School Limited over the assets of the company dated 4 November 2020.

Finance lease liabilities are secured against the assets to which they relate.

 

One Plus Four Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £5,665,690 (2023 - £7,450,000). The financial commtitment relates to a 15 year lease for the premises.