23 LIMITED


Director	CRANE, David, Dr


Company Secretary	ROSS, Louise


Registered Address	71-75 Shelton Street
	Covent Garden
	London
	WC2H 9JQ


Registered Number	03885216 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	4		5,978		4,378
Tangible assets	5		37,584		26,417
Investments	6		676,852		676,852
			720,414		707,647
Current assets
Debtors	7	3,496,170		1,278,469
Cash at bank and on hand		67,258		-
		3,563,428		1,278,469
Creditors amounts falling due within one year	8	(2,392,132)		(1,056,994)
Net current assets (liabilities)			1,171,296		221,475
Total assets less current liabilities			1,891,710		929,122
Creditors amounts falling due after one year	9		(382,135)		(331,222)
Provisions for liabilities			(9,396)		(6,604)
Net assets			1,500,179		591,296
Capital and reserves
Called up share capital			1		1
Share premium			402,136		-
Profit and loss account			1,098,042		591,295
Shareholders' funds			1,500,179		591,296

The company was entitled to exemption from audit for this reporting period 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 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 12 December 2025, and are signed on its behalf by:

CRANE, David, Dr
Director
Registered Company No. 03885216

23 LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	15		9

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 April 24	4,608
	Additions	2,150
	At 31 March 25	6,758
	Amortisation and impairment
	At 01 April 24	229
	Charge for year	551
	At 31 March 25	779
	Net book value
	At 31 March 25	5,978
	At 31 March 24	4,378

5.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	77,658
	Additions	19,785
	At 31 March 25	97,443
	Depreciation and impairment
	At 01 April 24	51,241
	Charge for year	8,618
	At 31 March 25	59,859
	Net book value
	At 31 March 25	37,584
	At 31 March 24	26,417

6.	Fixed asset investments

		Total
		£
	Cost or valuation
	At 01 April 24	676,852
	At 31 March 25	676,852
	Net book value
	At 31 March 25	676,852
	At 31 March 24	676,852

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	3,488,676	1,278,469
Prepayments and accrued income	7,494	-
Total	3,496,170	1,278,469

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	281,532	220,087
Bank borrowings and overdrafts	190,737	148,175
Taxation and social security	643,142	209,665
Finance lease and HP contracts	6,872	20,778
Other creditors	468,984	458,289
Accrued liabilities and deferred income	800,865	-
Total	2,392,132	1,056,994

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	374,681	331,222
Other creditors	7,454	-
Total	382,135	331,222

10.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	14,326		20,778