53 32 Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11240071

53 32 Limited

Filleted Unaudited Financial Statements

31 March 2025

53 32 Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	–	495,712

Cost of sales	–	466,492
	----	---------
Gross profit	–	29,220

Distribution costs	–	1,750
Administrative expenses	34,714	603,482
Other operating income	–	1,412,936
	--------	------------
Operating (loss)/profit	( 34,714)	836,924

		--------	------------
(Loss)/profit before taxation	5	( 34,714)	836,924

Tax on (loss)/profit	–	–
	--------	---------
(Loss)/profit for the financial year and total comprehensive income	( 34,714)	836,924
	--------	---------

All the activities of the company are from continuing operations.

53 32 Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Current assets

Debtors	6	–	26,969

Creditors: amounts falling due within one year	7	120,420	112,675
		---------	---------
Net current liabilities		120,420	85,706
		---------	--------
Total assets less current liabilities		( 120,420)	( 85,706)
		---------	--------
Net liabilities		( 120,420)	( 85,706)
		---------	--------

Capital and reserves

Called up share capital	523,773	523,773
Profit and loss account	( 644,193)	( 609,479)
	---------	---------
Shareholders deficit	( 120,420)	( 85,706)
	---------	---------

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'.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 30 September 2025 , and are signed on behalf of the board by:

Mr Otis Emanuell TURNER
Director

Company registration number: 11240071

53 32 Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jubilee House, Townsend Lane, London, NW9 8TZ, 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.

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	10% straight line
Plant and machinery	-	25% straight line
Fixtures and fittings	-	25% straight line
Equipment	-	33 % straight line

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 Nil (2024: 4 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	–	95,579
	----	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	–	26,969
	----	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	59	13
Trade creditors	43,719	77,308
Corporation tax	400	400
Social security and other taxes	30,864	34,954
Other creditors	39,038	–
Other creditors	6,340	–
	---------	---------
	120,420	112,675
	---------	---------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr. Ziggy Harris	–	( 2,340)	( 2,340)
	----	-------	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr. Ziggy Harris	–	–	–
	----	----	----

9. Related party transactions