Object & Line Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07095451

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		9,133		10,585

			9,133		10,585
CURRENT ASSETS
Stocks	5	26,048		28,006
Debtors	6	17,237		14,617
Cash at bank and in hand		16,378		23,399

		59,663		66,022
Creditors: Amounts Falling Due Within One Year	7	(129,001 )		(135,877 )

NET CURRENT ASSETS (LIABILITIES)			(69,338 )		(69,855 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(60,205 )		(59,270 )

NET LIABILITIES			(60,205 )		(59,270 )

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(60,305 )		(59,370 )

SHAREHOLDERS' FUNDS			(60,205)		(59,270)

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Object & Line Ltd

Balance Sheet (continued)

As At 31 December 2024

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.

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

Mr Barry Hepton

Director

26/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

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

1.2. Going Concern Disclosure

Although the company's balance sheet shows a net deficit of £59,370 there is a loan due to the directors of £121,019. The directors have indicated that they will continue to support the company financially and not seek repayment of this loan for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

1.3. 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.

1.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

1.5. 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:

Fixtures & Fittings	20% reducing balance
Computer Equipment	25% reducing balance

1.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2023: 6)

3. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	10,250

As at 31 December 2024	10,250

Amortisation
As at 1 January 2024	10,250

As at 31 December 2024	10,250

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

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Object & Line Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	39,513	9,923	49,436
Additions	249	791	1,040
Disposals	(235 )	-	(235 )

As at 31 December 2024	39,527	10,714	50,241

Depreciation
As at 1 January 2024	31,247	7,604	38,851
Provided during the period	1,642	728	2,370
Disposals	(113 )	-	(113 )

As at 31 December 2024	32,776	8,332	41,108

Net Book Value
As at 31 December 2024	6,751	2,382	9,133

As at 1 January 2024	8,266	2,319	10,585

5. Stocks

	2024	2023
	£	£
Finished goods	26,048	28,006

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	523	1,338
Other debtors	16,714	13,279

	17,237	14,617

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	4,973	5,913
Other creditors	118,636	123,439
Taxation and social security	5,392	6,525

	129,001	135,877

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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Object & Line Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Contingent Liabilities

The total amount of financial commitments not included in the balance sheet is £18,557 (2023 - £29,557). This represents the remaining commitment on a ten year lease, signed in September 2016, for the delicatessen cafe premises.

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