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REGISTERED NUMBER: 01843861 (England and Wales)















TUBESHEET LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






TUBESHEET LIMITED (REGISTERED NUMBER: 01843861)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TUBESHEET LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: N Vaughan
A R Vaughan





REGISTERED OFFICE: Unit 2
Denby Hall Way
Ripley
Derbyshire
DE5 8JZ





REGISTERED NUMBER: 01843861 (England and Wales)

TUBESHEET LIMITED (REGISTERED NUMBER: 01843861)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,170,270 1,924,507
Investments 5 995,820 1,018,750
Investment property 6 941,205 941,205
4,107,295 3,884,462

CURRENT ASSETS
Stocks 7 2,523,787 2,137,866
Debtors 8 1,534,181 871,781
Cash at bank 3,721,114 2,734,466
7,779,082 5,744,113
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

9

2,154,684

1,557,480
NET CURRENT ASSETS 5,624,398 4,186,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,731,693

8,071,095

PROVISIONS FOR LIABILITIES 10 129,996 44,049
NET ASSETS 9,601,697 8,027,046

CAPITAL AND RESERVES
Called up share capital 11 5 5
Capital redemption reserve 35 35
Retained earnings 9,601,657 8,027,006
SHAREHOLDERS' FUNDS 9,601,697 8,027,046

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

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

TUBESHEET LIMITED (REGISTERED NUMBER: 01843861)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





A R Vaughan - Director


TUBESHEET LIMITED (REGISTERED NUMBER: 01843861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Tubesheet 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 as modified by the revaluation of certain assets.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover
Turnover represents net invoiced sales of goods and services, net of value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.


TUBESHEET LIMITED (REGISTERED NUMBER: 01843861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Employee benefit
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

TUBESHEET LIMITED (REGISTERED NUMBER: 01843861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2022 1,893,890 1,877,519 32,724 129,321 3,933,454
Additions - 375,082 3,469 - 378,551
At 31 August 2023 1,893,890 2,252,601 36,193 129,321 4,312,005
DEPRECIATION
At 1 September 2022 228,802 1,675,752 32,720 71,673 2,008,947
Charge for year 32,765 84,452 1,160 14,411 132,788
At 31 August 2023 261,567 1,760,204 33,880 86,084 2,141,735
NET BOOK VALUE
At 31 August 2023 1,632,323 492,397 2,313 43,237 2,170,270
At 31 August 2022 1,665,088 201,767 4 57,648 1,924,507

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 September 2022 1,018,750
Revaluations (22,930 )
At 31 August 2023 995,820
NET BOOK VALUE
At 31 August 2023 995,820
At 31 August 2022 1,018,750

Cost or valuation at 31 August 2023 is represented by:

Other
investments
£   
Valuation in 2023 995,820

TUBESHEET LIMITED (REGISTERED NUMBER: 01843861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 941,205
NET BOOK VALUE
At 31 August 2023 941,205
At 31 August 2022 941,205

The fair value of the investment property is not significantly different to cost in the opinion of the directors.

7. STOCKS
2023 2022
£    £   
Stocks 1,858,998 2,137,866
Payments on account 664,789 -
2,523,787 2,137,866

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,459,583 830,875
Other debtors 74,598 40,906
1,534,181 871,781

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 940,762 1,090,176
Taxation and social security 618,038 415,523
Other creditors 595,884 51,781
2,154,684 1,557,480

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 129,996 44,049

TUBESHEET LIMITED (REGISTERED NUMBER: 01843861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2022 44,049
Provided during year 72,037
Rate movement 13,910
Balance at 31 August 2023 129,996

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 A Ordinary shares of £1 each £1 1 1
1 B Ordinary shares of £1 each £1 1 1
3 C Ordinary shares of £1 each £1 3 3
5 5

12. CONTROL

The company is controlled by N Vaughan and A R Vaughan.