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REGISTERED NUMBER: 10014054 (England and Wales)


















TIC DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






TIC DEVELOPMENTS LTD (REGISTERED NUMBER: 10014054)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TIC DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: G N Fecci
E Whitcomb





REGISTERED OFFICE: 21a Lambourne Crescent
Llanishen
Cardiff
County of Cardiff
CF14 5GF





REGISTERED NUMBER: 10014054 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

TIC DEVELOPMENTS LTD (REGISTERED NUMBER: 10014054)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 2,466,642 1,104,223
Debtors 4 6,534 1,220
Cash at bank 7,440 148,754
2,480,616 1,254,197
CREDITORS
Amounts falling due within one year 5 (55,827 ) (53,332 )
NET CURRENT ASSETS 2,424,789 1,200,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,424,789

1,200,865

CREDITORS
Amounts falling due after more than one
year

6

(2,230,702

)

(1,019,701

)
NET ASSETS 194,087 181,164

CAPITAL AND RESERVES
Called up share capital 7 300 300
Retained earnings 193,787 180,864
SHAREHOLDERS' FUNDS 194,087 181,164

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 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 28 November 2023 and were signed on its behalf by:





G N Fecci - Director


TIC DEVELOPMENTS LTD (REGISTERED NUMBER: 10014054)

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


1. STATUTORY INFORMATION

Tic Developments 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.

The financial statements are presented in sterling (£), the company's functional currency, and rounded to the
nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard FRS 102 1A.

Turnover
Turnover is measured at the fair value of consideration received in respect of the sale of property.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

Non derivative financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT 6,534 -
Prepayments and accrued income - 1,220
6,534 1,220

TIC DEVELOPMENTS LTD (REGISTERED NUMBER: 10014054)

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


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 1,956 2,578
Corporation tax 3,031 10,177
VAT - 867
Directors' loan accounts 28,490 23,537
Accruals and deferred income 12,350 6,173
55,827 53,332

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-5 years 22,497 32,496
Other creditors 2,208,205 987,205
2,230,702 1,019,701

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary £1 300 300

8. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments in respect of property rental of £24,000 at the year end (2022: £24,000).