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COMPANY REGISTRATION NUMBER: 13897757
8ight Plus Limited
Filleted Unaudited Financial Statements
31 December 2024
8ight Plus Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
5
379,251
1,905,416
Cash at bank and in hand
622,897
478,880
------------
------------
1,002,148
2,384,296
Creditors: amounts falling due within one year
6
597,340
2,072,272
------------
------------
Net current assets
404,808
312,024
---------
---------
Total assets less current liabilities
404,808
312,024
---------
---------
Net assets
404,808
312,024
---------
---------
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss account
403,808
311,024
---------
---------
Shareholders funds
404,808
312,024
---------
---------
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 statement of income and retained earnings has not been delivered.
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.
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 were approved by the board of directors and authorised for issue on 22 April 2025 , and are signed on behalf of the board by:
Mr L Hill
Director
Company registration number: 13897757
8ight Plus Limited
Notes to the Financial Statements
Year ended 31 December 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 3b Swallowfield Courtyard, Oldbury, B692JG, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. Debt instruments are subsequently measured at amortised cost.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Debtors
2024
2023
£
£
Trade debtors
238,201
1,787,662
Amounts owed by group undertakings
140,000
Called up share capital not paid
1,000
1,000
Other debtors
50
116,754
---------
------------
379,251
1,905,416
---------
------------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
359,617
1,812,829
Amounts owed to group undertakings
183,990
60,000
Accruals and deferred income
1,800
Corporation tax
34,649
101,748
Social security and other taxes
17,284
97,695
---------
------------
597,340
2,072,272
---------
------------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
8. Related party transactions
There is a £183,990 creditor balance (2023 - £116,754 debtor balance) at the year-end owed from a related party company, Eight Days a Week Print Solutions Limited. During the year, the company transacted with the related party amounting to £300,744 (2023 - £141,754). During the year, £200,000 (2023 - £60,000 advanced to the Company) was advanced from the Company from Eight Days a Week (Holdings) Limited, a related party. Amounts outstanding at the balance sheet date amounted to £140,000 debtor balance (2023 - £60,000 creditor balance).