Registered number
10628112
TUS (Trade Underfloor Supplies) Ltd
Filleted Accounts
31 January 2023
TUS (Trade Underfloor Supplies) Ltd
Registered number: 10628112
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 29,631 47,427
Current assets
Stocks 16,630 52,701
Debtors 4 164,318 168,737
Cash at bank and in hand 56,934 96,366
237,882 317,804
Creditors: amounts falling due within one year 5 (186,962) (216,553)
Net current assets 50,920 101,251
Total assets less current liabilities 80,551 148,678
Creditors: amounts falling due after more than one year 6 (30,815) (50,536)
Provisions for liabilities (5,462) (9,011)
Net assets 44,274 89,131
Capital and reserves
Called up share capital 125 125
Share premium 77,975 77,975
Profit and loss account (33,826) 11,031
Shareholder's funds 44,274 89,131
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Beck
Director
Approved by the board on 9 May 2023
TUS (Trade Underfloor Supplies) Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 103,563
Additions 1,107
At 31 January 2023 104,670
Depreciation
At 1 February 2022 56,136
Charge for the year 18,903
At 31 January 2023 75,039
Net book value
At 31 January 2023 29,631
At 31 January 2022 47,427
4 Debtors 2023 2022
£ £
Trade debtors 52,889 49,541
Amounts owed by group undertakings and undertakings in which the company has a participating interest 109,528 85,155
Other debtors 1,901 34,041
164,318 168,737
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,249 22,249
Trade creditors 117,317 152,133
Amounts owed to group undertakings and undertakings in which the company has a participating interest 5,874 5,992
Taxation and social security costs 36,499 34,703
Other creditors 5,023 1,476
186,962 216,553
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,815 50,536
7 Controlling party
The company is wholly owned by TUS Holdings Ltd. TUS Holdings Ltd is controlled by the company directors, Mr M Beck and Mrs Z Beck by virtue of their shareholding.
8 Other information
TUS (Trade Underfloor Supplies) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
11 Granary Wharf Business Park
Wetmore Road
Burton on Trent
Staffordshire
DE14 1DU
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