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REGISTERED NUMBER: 04677915 (England and Wales)
























Financial Statements

for the Year Ended 31 March 2023

for

T.C. & R.L. Adams Limited
Trading as
Ty Medi Texels

T.C. & R.L. Adams Limited (Registered number: 04677915)
Trading as Ty Medi Texels






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T.C. & R.L. Adams Limited
Trading as Ty Medi Texels

Company Information
for the Year Ended 31 March 2023







Directors: Mrs J N Adams
T C N Adams





Secretary: D A Adams





Registered office: 9 Court Road
Bridgend
South Wales
CF31 1BE





Registered number: 04677915 (England and Wales)





Accountants: Roger Thomas Limited
9 Court Road
Bridgend
South Wales
CF31 1BE

T.C. & R.L. Adams Limited (Registered number: 04677915)
Trading as Ty Medi Texels

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 593,012 462,796

Current assets
Stocks 194,600 116,800
Debtors 5 81 364
Cash at bank 6,149 15,135
200,830 132,299
Creditors
Amounts falling due within one year 6 298,169 207,857
Net current liabilities (97,339 ) (75,558 )
Total assets less current liabilities 495,673 387,238

Creditors
Amounts falling due after more than one
year

7

356,763

325,707
Net assets 138,910 61,531

Capital and reserves
Called up share capital 100 100
Retained earnings 138,810 61,431
Shareholders' funds 138,910 61,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

T.C. & R.L. Adams Limited (Registered number: 04677915)
Trading as Ty Medi Texels

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





T C N Adams - Director


T.C. & R.L. Adams Limited (Registered number: 04677915)
Trading as Ty Medi Texels

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. Statutory information

T.C. & R.L. Adams 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 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.

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.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

T.C. & R.L. Adams Limited (Registered number: 04677915)
Trading as Ty Medi Texels

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. Tangible fixed assets
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Cost
At 1 April 2022 99,279 444,598 280
Additions 122,623 62,219 381
At 31 March 2023 221,902 506,817 661
Depreciation
At 1 April 2022 - 90,472 280
Charge for year - 46,362 -
At 31 March 2023 - 136,834 280
Net book value
At 31 March 2023 221,902 369,983 381
At 31 March 2022 99,279 354,126 -

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 April 2022 32,774 6,045 582,976
Additions - - 185,223
At 31 March 2023 32,774 6,045 768,199
Depreciation
At 1 April 2022 24,580 4,848 120,180
Charge for year 8,194 451 55,007
At 31 March 2023 32,774 5,299 175,187
Net book value
At 31 March 2023 - 746 593,012
At 31 March 2022 8,194 1,197 462,796

5. Debtors: amounts falling due within one year
31.3.23 31.3.22
£    £   
Other debtors 81 364

T.C. & R.L. Adams Limited (Registered number: 04677915)
Trading as Ty Medi Texels

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. Creditors: amounts falling due within one year
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 169,526 62,288
Trade creditors 5,690 5,091
Taxation and social security 588 -
Other creditors 122,365 140,478
298,169 207,857

7. Creditors: amounts falling due after more than one year
31.3.23 31.3.22
£    £   
Bank loans 291,478 286,070
Hire purchase contracts 65,285 39,637
356,763 325,707

Amounts falling due in more than five years:

Repayable by instalments
Societe Generale Loan 17,336 21,635
Bounce Back Loan 13,333 17,333
30,669 38,968