Company registration number 02960504 (England and Wales)
T T E LITHO SALES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
T T E LITHO SALES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
T T E LITHO SALES LIMITED (REGISTERED NUMBER: 02960504)
BALANCE SHEET
AS AT 30 DECEMBER 2022
30 December 2022
- 1 -
30 December 2022
31 December 2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
60,000
67,500
Tangible assets
4
185,424
209,742
245,424
277,242
Current assets
Stocks
100
50,100
Debtors
5
36,109
122,835
Cash at bank and in hand
42,623
24,125
78,832
197,060
Creditors: amounts falling due within one year
6
(83,387)
(97,877)
Net current (liabilities)/assets
(4,555)
99,183
Total assets less current liabilities
240,869
376,425
Creditors: amounts falling due after more than one year
7
(406,818)
(460,751)
Net liabilities
(165,949)
(84,326)
Capital and reserves
Called up share capital
8
110
110
(42,167)
(42,167)
Profit and loss reserves
(123,892)
(42,269)
Total equity
(165,949)
(84,326)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

T T E LITHO SALES LIMITED (REGISTERED NUMBER: 02960504)
BALANCE SHEET (CONTINUED)
AS AT 30 DECEMBER 2022
30 December 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 30 January 2024
P J Mott
Director
T T E LITHO SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

T T E Litho Sales Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Reporting period

The company accounts are presented for a period shorter than a year, covering the period from the 1st of January 2022 to the 30th of December 2022.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The balance sheet shows net liabilities, the director is the main creditor of the company and has confirmed that he will continue to support the company for the foreseeable future. Therefore, the accounts have been prepared on a going concern basis.true

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
- 10% on a straight line basis
Plant and machinery
- 25% on reducing balance
Fixtures, fittings & equipment
- 25% on reducing balance
Motor vehicles
- 25% on reducing balance
T T E LITHO SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
2021
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2022 and 30 December 2022
150,000
Amortisation and impairment
At 1 January 2022
82,500
Amortisation charged for the period
7,500
At 30 December 2022
90,000
Carrying amount
At 30 December 2022
60,000
At 31 December 2021
67,500
T T E LITHO SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2022
- 5 -
4
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2022
192,500
75,457
42,034
38,184
348,175
Additions
1,564
265
233
-
0
2,062
Disposals
-
0
(33,427)
(3,960)
-
0
(37,387)
At 30 December 2022
194,064
42,295
38,307
38,184
312,850
Depreciation and impairment
At 1 January 2022
8,021
73,976
38,106
18,330
138,433
Depreciation charged in the period
19,380
552
1,107
4,964
26,003
Eliminated in respect of disposals
-
0
(33,427)
(3,583)
-
0
(37,010)
At 30 December 2022
27,401
41,101
35,630
23,294
127,426
Carrying amount
At 30 December 2022
166,663
1,194
2,677
14,890
185,424
At 31 December 2021
184,479
1,481
3,928
19,854
209,742
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
13,599
97,861
Other debtors
22,510
24,974
36,109
122,835
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
9,099
7,757
Trade creditors
3,751
12,856
Taxation and social security
1,946
5,476
Other creditors
68,591
71,788
83,387
97,877
T T E LITHO SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2022
- 6 -
7
Creditors: amounts falling due after more than one year
2022
2021
Notes
£
£
Bank loans and overdrafts
18,729
26,479
Other borrowings
388,089
434,272
406,818
460,751
8
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £5 each
2
2
10
10
Ordinary B of £1 each
100
100
100
100
102
102
110
110
9
Financial commitments, guarantees and contingent liabilities

The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future.

During the 2020 accounting period, the company borrowed £38,750 from its bankers for a Bounce Back Loan. As part of this loan scheme, the UK government guaranteed the advance and paid the interest and fees due for the first 12 months.

 

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