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Company Registration No. 11721065 (England and Wales)
Transfer Brand Solutions Limited Unaudited accounts for the year ended 31 December 2022
Transfer Brand Solutions Limited Unaudited accounts Contents
Page
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Transfer Brand Solutions Limited Company Information for the year ended 31 December 2022
Directors
J Price O Rayner J Smith D Smith
Secretary
J J Price
Company Number
11721065 (England and Wales)
Registered Office
Unit 10 United Business Park Lowfields Road Leeds LS12 6UB
Accountants
Tidal Accounting Madison Offices Richardshaw Road Leeds West Yorkshire LS28 6LE
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Transfer Brand Solutions Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
112,297 
90,624 
Current assets
Debtors
219,802 
49,093 
Cash at bank and in hand
2,307 
26,578 
222,109 
75,671 
Creditors: amounts falling due within one year
(350,024)
(5,294)
Net current (liabilities)/assets
(127,915)
70,377 
Total assets less current liabilities
(15,618)
161,001 
Creditors: amounts falling due after more than one year
(9,342)
(230,068)
Provisions for liabilities
Deferred tax
(21,336)
- 
Net liabilities
(46,296)
(69,067)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(46,396)
(69,167)
Shareholders' funds
(46,296)
(69,067)
For the year ending 31 December 2022 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by
J Price Director Company Registration No. 11721065
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Transfer Brand Solutions Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Transfer Brand Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 11721065. The registered office is Unit 10 United Business Park, Lowfields Road, Leeds, LS12 6UB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors have considered all factors, including in the wider economy, as part of their assessment of going concern. Although the current economic climate creates both cashflow and profitability risks for the company, the directors believe on balance that they have sufficient resources to enable trading to continue for a period of at least one year from the date of approval of the financial statements, on the basis of information currently available to them as at the point of approving these. Accordingly, these financial statements have been prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over the life of the lease
Plant & machinery
18% reducing balance
Motor vehicles
5 years straight line
Fixtures & fittings
18% reducing balance
Computer equipment
18% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Transfer Brand Solutions Limited Notes to the Accounts for the year ended 31 December 2022
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 January 2022
- 
43,909 
- 
59,389 
240 
103,538 
Additions
13,075 
14,226 
9,500 
6,244 
2,063 
45,108 
At 31 December 2022
13,075 
58,135 
9,500 
65,633 
2,303 
148,646 
Depreciation
At 1 January 2022
- 
4,058 
- 
8,852 
4 
12,914 
Charge for the year
5,315 
8,138 
158 
9,226 
598 
23,435 
At 31 December 2022
5,315 
12,196 
158 
18,078 
602 
36,349 
Net book value
At 31 December 2022
7,760 
45,939 
9,342 
47,555 
1,701 
112,297 
At 31 December 2021
- 
39,851 
- 
50,537 
236 
90,624 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
175,695 
5,146 
Other debtors
44,107 
43,947 
219,802 
49,093 
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Transfer Brand Solutions Limited Notes to the Accounts for the year ended 31 December 2022
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Obligations under finance leases and hire purchase contracts
1,900 
- 
Trade creditors
72,189 
- 
Taxes and social security
2,616 
2,835 
Other creditors
273,319 
2,459 
350,024 
5,294 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Obligations under finance leases and hire purchase contracts
9,342 
- 
Other creditors
- 
230,068 
9,342 
230,068 
8
Deferred taxation
2022 
2021 
£ 
£ 
Accelerated capital allowances
21,336 
- 
2022 
2021 
£ 
£ 
Charged to the profit and loss account
21,336 
- 
Provision at end of year
21,336 
- 
9
Transactions with related parties
At the period end there was an interest free loan to a director of £63,219 (2021: £Nil).
10
Average number of employees
During the year the average number of employees was 4 (2021: 3).
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