Company Registration No. 03550291 (England and Wales)
T1 Limited
Unaudited accounts
for the year ended 5 April 2025
T1 Limited
Unaudited accounts
Contents
T1 Limited
Company Information
for the year ended 5 April 2025
Company Number
03550291 (England and Wales)
Registered Office
Number 7
75 Amwell Street
London
EC1R 1UT
ENGLAND
Accountants
Townley & Co Limited
Warrington Business Centre
67 Bewsey Street
Warrington
WA2 7JQ
T1 Limited
Statement of financial position
as at 5 April 2025
Tangible assets
1,901
2,534
Cash at bank and in hand
476
153
Creditors: amounts falling due within one year
(24,111)
(20,217)
Net current liabilities
(23,602)
(19,982)
Total assets less current liabilities
(21,701)
(17,448)
Creditors: amounts falling due after more than one year
(6,750)
(7,885)
Provisions for liabilities
Net liabilities
(28,932)
(25,814)
Called up share capital
2
2
Profit and loss account
(28,934)
(25,816)
Shareholders' funds
(28,932)
(25,814)
For the year ending 5 April 2025 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 September 2025 and were signed on its behalf by
J Rowe
Director
Company Registration No. 03550291
T1 Limited
Notes to the Accounts
for the year ended 5 April 2025
T1 Limited is a private company, limited by shares, registered in England and Wales, registration number 03550291. The registered office is Number 7, 75 Amwell Street, London, EC1R 1UT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance Basis
Computer equipment
33% Straight Line Basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
T1 Limited
Notes to the Accounts
for the year ended 5 April 2025
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 6 April 2024
22,943
3,277
26,220
At 5 April 2025
22,943
3,277
26,220
At 6 April 2024
22,418
1,268
23,686
Charge for the year
131
502
633
At 5 April 2025
22,549
1,770
24,319
At 5 April 2025
394
1,507
1,901
At 5 April 2024
525
2,009
2,534
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
1,441
1,441
Loans from directors
21,950
18,056
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 1 (2024: 1).