Thirteen57 Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07531467 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2019

for

Thirteen57 Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

P S Toor

J A Toor

REGISTERED OFFICE:

Rock House

Old Hill

Tettenhall

Wolverhampton

West Midlands

WV6 8QB

REGISTERED NUMBER:

07531467 (England and Wales)

ACCOUNTANTS:

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Directors' Report are not

required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Thirteen57 Ltd for the year ended 31 May 2019 which

comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Thirteen57 Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Thirteen57 Ltd and state those matters that we have agreed to state to the Board of Directors of Thirteen57 Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thirteen57 Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Thirteen57 Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thirteen57 Ltd. You consider that Thirteen57 Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Thirteen57 Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

12 September 2019

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

11,455

6,721

11,455

6,721

CURRENT ASSETS

Debtors

6

69,655

80,892

Cash at bank and in hand

98,308

76,230

167,963

157,122

CREDITORS

Amounts falling due within one year

7

(84,599

)

(82,403

)

NET CURRENT ASSETS

83,364

74,719

TOTAL ASSETS LESS CURRENT LIABILITIES

94,819

81,440

CREDITORS

Amounts falling due after more than one year

8

(13,678

)

(29,470

)

PROVISIONS FOR LIABILITIES

(2,696

)

(827

)

NET ASSETS

78,445

51,143

CAPITAL AND RESERVES

Called up share capital

900

900

Retained earnings

77,545

50,243

78,445

51,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 12 September 2019 and were signed on its behalf by:

P S Toor - Director

J A Toor - Director

1.	STATUTORY INFORMATION

Thirteen57 Ltd is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and

Loss account, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2018 - 54 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 June 2018

and 31 May 2019

39,000

AMORTISATION

At 1 June 2018

and 31 May 2019

39,000

NET BOOK VALUE

At 31 May 2019

-

At 31 May 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2018

12,147

Additions

7,657

At 31 May 2019

19,804

DEPRECIATION

At 1 June 2018

5,426

Charge for year

2,923

At 31 May 2019

8,349

NET BOOK VALUE

At 31 May 2019

11,455

At 31 May 2018

6,721

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

63,768

74,516

Other debtors

5,887

6,376

69,655

80,892

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

15,792

15,113

Taxation and social security

31,612

29,595

Other creditors

37,195

37,695

84,599

82,403

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

13,678

29,470

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

29,470

44,583

The bank loan is secured by a fixed and floating charge over the company's assets.