TH Michaels Limited Filleted Accounts Cover
TH Michaels Limited
Company No. 11401359
Information for Filing with The Registrar
29 June 2023
TH Michaels Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 29 June 2023.
Principal activities
The principal activity of the company during the year under review was Building contractors.
Director
The Director who served at any time during the year was as follows:
P. Thompson
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
P. Thompson
Director
29 June 2023
TH Michaels Limited Balance Sheet Registrar
at
29 June 2023
Company No.
11401359
Notes
2023
2022
£
£
Current assets
Debtors
4
50,14386,965
Cash at bank and in hand
31,927100,045
82,070187,010
Creditors: Amount falling due within one year
5
(57,200)
(147,261)
Net current assets
24,87039,749
Total assets less current liabilities
24,87039,749
Creditors: Amounts falling due after more than one year
6
(20,833)
(30,833)
Net assets
4,0378,916
Capital and reserves
Called up share capital
11
Profit and loss account
8
4,0368,915
Total equity
4,0378,916
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 29 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 29 June 2023 and signed on its behalf by:
P. Thompson
Director
29 June 2023
TH Michaels Limited Notes to the Accounts Registrar
for the year ended 29 June 2023
1
General information
TH Michaels Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 11401359
Its registered office is:
87-89 Forncett Street
Sheffield
S4 7QG
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Debtors
2023
2022
£
£
Trade debtors
42,83386,965
Loans to directors
7,310-
50,14386,965
5
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,00010,000
Trade creditors
-15,000
Amounts owed to group undertakings
27,715
75,774
Taxes and social security
18,525
44,977
Loans from directors
-550
Accruals and deferred income
960960
57,200147,261
6
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,83330,833
20,83330,833
7
Share Capital
Ordinary shares of £1 each
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
9
Dividends
2023
2022
£
£
Dividends for the period:
Dividends paid in the period
26,460
33,000
26,460
33,000
Dividends by type:
Equity dividends
26,46033,000
26,460
33,000
10
Related party disclosures
Transactions with related parties
Amounts owed to related parties 2023 £27,715 (2022 £75,774)
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