We Are 23 Limited 30/06/2019 iXBRL

We Are 23 Limited 30/06/2019 iXBRL

WE ARE 23 LIMITED - Company Information

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Company registration number: 06942108
We Are 23 Limited
Unaudited financial statements
30 June 2019
We Are 23 Limited
Contents
Directors and other information
Directors report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
We Are 23 Limited
Directors and other information
Directors Mr M Roach
Ms E Hetherington
Company number 06942108
Registered office 88 Highgate Road
London
NW5 1PB
Business address 88 Highgate Road
London
NW5 1PB
Accountants Charles Lamb
35 Queens Park South Drive
Bournemouth
Dorset
BH8 9BH
We Are 23 Limited
Directors report
Year ended 30 June 2019
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2019.
Directors
The directors who served the company during the year were as follows:
Mr M Roach
Ms E Hetherington
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 11 November 2019 and signed on behalf of the board by:
Mr M Roach
Director
We Are 23 Limited
Statement of comprehensive income
Year ended 30 June 2019
2019 2018
Note £ £
Turnover 125,326 150,046
Cost of sales ( 34,884) ( 47,778)
_______ _______
Gross profit 90,442 102,268
Administrative expenses ( 50,193) ( 54,007)
_______ _______
Operating profit 40,249 48,261
Other interest receivable and similar income 12 231
_______ _______
Profit before taxation 4 40,261 48,492
Tax on profit ( 8,024) ( 9,625)
_______ _______
Profit for the financial year and total comprehensive income 32,237 38,867
_______ _______
All the activities of the company are from continuing operations.
We Are 23 Limited
Statement of financial position
30 June 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 5 5,916 7,888
_______ _______
5,916 7,888
Current assets
Cash at bank and in hand 83,242 125,089
_______ _______
83,242 125,089
Creditors: amounts falling due
within one year 6 ( 88,412) ( 131,468)
_______ _______
Net current liabilities ( 5,170) ( 6,379)
_______ _______
Total assets less current liabilities 746 1,509
_______ _______
Net assets 746 1,509
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 744 1,507
_______ _______
Shareholders funds 746 1,509
_______ _______
For the year ending 30 June 2019 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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 11 November 2019 , and are signed on behalf of the board by:
Mr M Roach
Director
Company registration number: 06942108
We Are 23 Limited
Statement of changes in equity
Year ended 30 June 2019
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2017 2 640 642
Profit for the year 38,867 38,867
_______ _______ _______
Total comprehensive income for the year - 38,867 38,867
Dividends paid and payable ( 38,000) ( 38,000)
_______ _______ _______
Total investments by and distributions to owners - ( 38,000) ( 38,000)
_______ _______ _______
At 30 June 2018 and 1 July 2018 2 1,507 1,509
Profit for the year 32,237 32,237
_______ _______ _______
Total comprehensive income for the year - 32,237 32,237
Dividends paid and payable ( 33,000) ( 33,000)
_______ _______ _______
Total investments by and distributions to owners - ( 33,000) ( 33,000)
_______ _______ _______
At 30 June 2019 2 744 746
_______ _______ _______
We Are 23 Limited
Notes to the financial statements
Year ended 30 June 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 88 Highgate Road, London, NW5 1PB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
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:
Fittings fixtures and equipment - 25 %
Motor vehicles - 25 %
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2019 2018
£ £
Depreciation of tangible assets 1,972 3,750
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 July 2018 and 30 June 2019 13,854 11,150 25,004
_______ _______ _______
Depreciation
At 1 July 2018 10,967 6,149 17,116
Charge for the year 722 1,250 1,972
_______ _______ _______
At 30 June 2019 11,689 7,399 19,088
_______ _______ _______
Carrying amount
At 30 June 2019 2,165 3,751 5,916
_______ _______ _______
At 30 June 2018 2,887 5,001 7,888
_______ _______ _______
6. Creditors: amounts falling due within one year
2019 2018
£ £
Corporation tax 8,024 9,625
Social security and other taxes 6,062 5,458
Other creditors 74,326 116,385
_______ _______
88,412 131,468
_______ _______