21st Century Office Concepts Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03164838

21st Century Office Concepts Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

21st Century Office Concepts Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

21st Century Office Concepts Limited

Officers and Professional Advisers

THE BOARD OF DIRECTORS	S D Cooper
	J A Edwards

REGISTERED OFFICE	1 Thundridge Business Park
	Thundridge
	Ware
	Hertfordshire
	SG12 0SS

ACCOUNTANTS	Streets
	Chartered accountants
	Basepoint Business & Innovation Centre
	110 Butterfield
	Great Marlings
	Luton
	Beds
	LU2 8DL

21st Century Office Concepts Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	27,248	35,522

Current assets

Stocks		500,000	776,505
Debtors	6	1,133,307	1,245,061
Cash at bank and in hand		315	825,590
		------------	------------
		1,633,622	2,847,156

Creditors: amounts falling due within one year	7	1,650,674	2,317,500
		------------	------------
Net current (liabilities)/assets		( 17,052)	529,656
		--------	---------
Total assets less current liabilities		10,196	565,178

Creditors: amounts falling due after more than one year	8	6,166	106,506

Provisions	–	4,906
	--------	---------
Net assets	4,030	453,766
	--------	---------

Capital and reserves

Called up share capital	600	300
Profit and loss account	3,430	453,466
	-------	---------
Shareholders funds	4,030	453,766
	-------	---------

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 comprehensive income 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 .

21st Century Office Concepts Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

S D Cooper	J A Edwards
Director	Director

Company registration number: 03164838

21st Century Office Concepts 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 1 Thundridge Business Park, Thundridge, Ware, Hertfordshire, SG12 0SS.

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.

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	33% straight line
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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 16 (2023: 16 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	158,354	116,440	108,916	383,710
Additions	–	221	399	620
	---------	---------	---------	---------
At 31 December 2024	158,354	116,661	109,315	384,330
	---------	---------	---------	---------
Depreciation
At 1 January 2024	140,980	116,440	90,768	348,188
Charge for the year	4,342	6	4,546	8,894
	---------	---------	---------	---------
At 31 December 2024	145,322	116,446	95,314	357,082
	---------	---------	---------	---------
Carrying amount
At 31 December 2024	13,032	215	14,001	27,248
	---------	---------	---------	---------
At 31 December 2023	17,374	–	18,148	35,522
	---------	---------	---------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	232,591	292,865
Other debtors	900,716	952,196
	------------	------------
	1,133,307	1,245,061
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	299,047	–
Trade creditors	544,389	801,314
Corporation tax	363,689	506,762
Social security and other taxes	318,181	124,628
Credit card creditor	12,463	12,206
Other creditors	112,905	872,590
	------------	------------
	1,650,674	2,317,500
	------------	------------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	6,166	106,506
	-------	---------

9. Directors' advances, credits and guarantees

During the year, Mr J Edwards continued to receive a loan from the company. At the beginning of the year Mr J Edwards owed £206,275. Repayments of £257,374 were made during the year, with further advances of £220,804. Interest was charged at the official rate and totalled £7,070 (2023:£5,001). As at 31 December Mr J Edwards owed the company £176,777 (2023: £206,275). During the year, Mr S Cooper continued to receive a loan from the company. At the beginning of the year Mr S Cooper owed £206,039. Repayments of £242,204 were made during the year, with further advances of £180,069. Interest was charged at the official rate and totalled £6,569 (2023:£4,659). As at 31 December Mr S Cooper owed the company £150,473 (2023: £206,039)

10. Related party transactions

Cupaz Herts Limited: During the year the company carried out the following transactions with Cupaz Herts Limited, a company in which Mr J Edwards and Mr S Cooper are directors and shareholders: During the year, the company continued to provide Cupaz Herts Limited with an interest free loan. During the year, there were further loans to Cupaz Herts Limited of £71,417 and repayments of £34,000. As at 31 December 2024, the amount owed by Cupaz Herts Limited was £168,822 (2023: £131,405) Cupaz Management LLP: During the year the company continued to provide Cupaz Management LLP, for which Mr J Edwards and Mr S Cooper are members, with an interest free loan. During the year, there were further loans of £29,301 and repayments of £14,000. As at 31 December 2024, the amount owed by Cupaz Management LLP was £74,655 (2023: £59,354). Cupaz Limited: During the year the company carried out the following transactions with Cupaz Limited, a company in which Mr S Cooper is a director and shareholder. During the year the company provided Cupaz Limited with an interest free loan of £611 (2023: £Nil)