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REGISTERED NUMBER: 04506869 (England and Wales)















10K LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






10K LTD (REGISTERED NUMBER: 04506869)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


10K LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: B Reavley
T Hogg





REGISTERED OFFICE: Unit 163 Maple Leaf Business Park
Manston
Ramsgate
CT12 5GY





REGISTERED NUMBER: 04506869 (England and Wales)





AUDITORS: Spurling Cannon Audit Limited
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

10K LTD (REGISTERED NUMBER: 04506869)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 882 1,102
Investments 5 1,000 1,000
1,882 2,102

CURRENT ASSETS
Stocks - 30,585
Debtors 6 1,307 11,653
Cash at bank 28,028 18,414
29,335 60,652
CREDITORS
Amounts falling due within one year 7 (35,776 ) (27,676 )
NET CURRENT (LIABILITIES)/ASSETS (6,441 ) 32,976
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,559

)

35,078

PROVISIONS FOR LIABILITIES (300 ) (300 )
NET (LIABILITIES)/ASSETS (4,859 ) 34,778

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (5,859 ) 33,778
(4,859 ) 34,778

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2025 and were signed on its behalf by:




B Reavley - Director



T Hogg - Director


10K LTD (REGISTERED NUMBER: 04506869)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

10k Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
The Directors have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixture & Fittings - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

10K LTD (REGISTERED NUMBER: 04506869)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixture &
Fittings
£   
COST
At 1 September 2023
and 31 August 2024 2,489
DEPRECIATION
At 1 September 2023 1,387
Charge for year 220
At 31 August 2024 1,607
NET BOOK VALUE
At 31 August 2024 882
At 31 August 2023 1,102

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 1,000
NET BOOK VALUE
At 31 August 2024 1,000
At 31 August 2023 1,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6 501
VAT 1,301 11,152
1,307 11,653

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,839 23,868
Amounts owed to group undertakings 29,937 -
Directors' current accounts - 1,995
Accrued expenses 4,000 1,813
35,776 27,676

10K LTD (REGISTERED NUMBER: 04506869)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Spurling (Senior Statutory Auditor)
for and on behalf of Spurling Cannon Audit Limited

9. RELATED PARTY DISCLOSURES

The company is owned by Montadale Limited, and company holds 100% of the issued share capital of the 10k Used Gear Limited. The transactions between these companies qualify as related party transactions. The list of related parties, their relationships, and the balances due to and from related parties with transactions are detailed below:

Name Relationship
Montadale Limited Ultimate Holding Company
10k Used Gear Limited 100% Owned Subsidiary
Merino Management Limited Associate Company

Amount Owed to Group Undertakings Amount (£)
10k Used Gear Limited 29,937

The company has an amount owed to 10K Used Gear Limited, which relates to transactions involving the directors. All transactions were conducted on an arm's length basis

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Montadale Limited (Company No. 15509011) & Registered office address: Milestone House, Millbrook, Guildford, United Kingdom, GU1 3YA.
Montadale limited holds 100% of the issued share capital of the 10K Limited.