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REGISTERED NUMBER: 11828895 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

TIPSY LIMITED

TIPSY LIMITED (REGISTERED NUMBER: 11828895)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TIPSY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: W Q Liu





REGISTERED OFFICE: Unit 7/8 Priory Place
Coventry
CV1 5SQ





REGISTERED NUMBER: 11828895 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

TIPSY LIMITED (REGISTERED NUMBER: 11828895)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,572 12,558

CURRENT ASSETS
Debtors 5 49,727 51,991
Cash at bank 6 19,067 9,434
68,794 61,425
CREDITORS
Amounts falling due within one year 7 30,989 73,926
NET CURRENT ASSETS/(LIABILITIES) 37,805 (12,501 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,377

57

CREDITORS
Amounts falling due after more than one
year

8

35,833

35,830
NET ASSETS/(LIABILITIES) 18,544 (35,773 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 18,534 (35,783 )
18,544 (35,773 )

TIPSY LIMITED (REGISTERED NUMBER: 11828895)

BALANCE SHEET - continued
28 FEBRUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





W Q Liu - Director


TIPSY LIMITED (REGISTERED NUMBER: 11828895)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Tipsy Limited 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 preparation
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.

Based on future forecasted profits and the continuing support of the company's bank, the director is of opinion of the company is a going concern and therefore the accounts have been prepared on this 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% reducing balance

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 5 (2022 - 5 ) .

TIPSY LIMITED (REGISTERED NUMBER: 11828895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 March 2022 24,509
Additions 9,538
At 28 February 2023 34,047
DEPRECIATION
At 1 March 2022 11,951
Charge for year 5,524
At 28 February 2023 17,475
NET BOOK VALUE
At 28 February 2023 16,572
At 28 February 2022 12,558

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 49,727 51,991

6. CASH AT BANK
2023 2022
£    £   
Bank 19,067 9,434

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans - 10,000
Trade creditors 1,319 1,213
Taxation and social security 26,842 12,169
Other creditors 2,828 50,544
30,989 73,926

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 35,833 35,830