84 West Ltd

Contents
	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—5

Page 1

Page 2

84 West Ltd

Balance Sheet

As At 28 February 2024

Balance Sheet

Registered number: 10911883

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets			124,405		156,464

			124,405		156,464
CURRENT ASSETS
Debtors	4	117,000		117,000
Cash at bank and in hand		-		2,088

		117,000		119,088
Creditors: Amounts Falling Due Within One Year	5	(561,913 )		(585,019 )

NET CURRENT ASSETS (LIABILITIES)			(444,913 )		(465,931 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(320,508 )		(309,467 )

Creditors: Amounts Falling Due After More Than One Year			(12,169 )		(12,169 )

NET LIABILITIES			(332,677 )		(321,636 )

CAPITAL AND RESERVES
Called up share capital	7		1,000		1,000
Share premium account			199,500		199,500
Profit and Loss Account			(533,177 )		(522,136 )

SHAREHOLDERS' FUNDS			(332,677)		(321,636)

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84 West Ltd

Balance Sheet (continued)

As At 28 February 2024

For the year ending 28 February 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs Francisca Otunla

Director

20 February 2024

The notes on pages 4 to 5 form part of these financial statements.

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84 West Ltd

Notes to the Financial Statements

For The Year Ended 28 February 2024

Notes to the Financial Statements

1. General Information

84 West Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10911883 . The registered office is 20-22 Wenlock Road, London, N1 7GU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	1.2% Straight Line Method
Plant & Machinery	20% Straight Line Method
Fixtures & Fittings	20% Straight Line Method
Computer Equipment	20% Straight Line Method

2.4. Leasing and Hire Purchase Contracts

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.

2.5. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

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84 West Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2024

2.6. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 32 (2023: 32)

4. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	117,000	117,000

	117,000	117,000

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Bank loans and overdrafts	184	-
Other taxes and social security	49,884	49,884
VAT	366,312	109,542
Other creditors	5,337	8,218
Directors' loan accounts	140,196	417,375

	561,913	585,019

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,000	1,000

8. Related Party Transactions

It is confirmed that the director's loan account is debited with personal transactions and credited with director's remuneration as well as payments made to the company.

The loans are unsecured, interest free and no repayment terms have been agreed.

Page 5

Directors	Mr Olajide Ajagbe
	Mrs Francisca Otunla

Company Number	10911883

Registered Office	20-22 Wenlock Road
	London
	N1 7GU

Business	20-22 Wenlock Road
	London
	N1 7GU

Accountants	Zenith Accounting & Business Solutions Ltd
	Certified Accountants
	DFO - Churchill House
	120 Bunns Lane
	Mill Hill
	London
	NW7 2AS