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REGISTERED NUMBER: 08674343 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Tim Purslow Limited

Tim Purslow Limited (Registered number: 08674343)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tim Purslow Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T N Purslow
R E Davidson





REGISTERED OFFICE: Oakfield Court
Scures Hill
Nately Scures
Hook
Hampshire
RG27 9JR





REGISTERED NUMBER: 08674343 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Tim Purslow Limited (Registered number: 08674343)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 399,015 307,236

CURRENT ASSETS
Stocks 874,833 755,542
Debtors 5 96,123 59,122
Cash at bank and in hand 100,335 275,359
1,071,291 1,090,023
CREDITORS
Amounts falling due within one year 6 496,662 409,023
NET CURRENT ASSETS 574,629 681,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

973,644

988,236

CREDITORS
Amounts falling due after more than one
year

7

(903,917

)

(903,918

)

PROVISIONS FOR LIABILITIES 9 (41,270 ) (38,524 )
NET ASSETS 28,457 45,794

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 28,357 45,694
SHAREHOLDERS' FUNDS 28,457 45,794

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

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

Tim Purslow Limited (Registered number: 08674343)

Balance Sheet - continued
31 December 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 4 April 2024 and were signed on its behalf by:





T N Purslow - Director


Tim Purslow Limited (Registered number: 08674343)

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


1. STATUTORY INFORMATION

Tim Purslow 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.

Critical accounting judgements and key sources of estimation uncertainty
Liabilities shown as due in more than 1 year are legally repayable within a year, on demand, although the creditors have no intention of recalling those loans in the next 12 months and hence they are shown as due in more than 1 year.

Turnover
Turnover represents sales of goods and services net of VAT and trade discounts. Turnover is recognised when the risks and rewards of ownership of goods have been transferred to the customer or where the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are shipped to, or are picked up by, the customer. Where a service contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - 33% on cost, 20% on cost and 10% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete or sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than the cost.

Financial instruments
Debtors and creditors payable/receivable within one year
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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.


Tim Purslow Limited (Registered number: 08674343)

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


2. ACCOUNTING POLICIES - continued
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, adjusted for indexation where applicable.

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.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

Tim Purslow Limited (Registered number: 08674343)

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


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 227,303 126,852 19,894
Additions 19,206 6,668 -
At 31 December 2023 246,509 133,520 19,894
DEPRECIATION
At 1 January 2023 96,206 75,786 14,421
Charge for year 19,183 11,833 1,865
At 31 December 2023 115,389 87,619 16,286
NET BOOK VALUE
At 31 December 2023 131,120 45,901 3,608
At 31 December 2022 131,097 51,066 5,473

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 119,240 8,787 502,076
Additions 127,646 - 153,520
At 31 December 2023 246,886 8,787 655,596
DEPRECIATION
At 1 January 2023 - 8,427 194,840
Charge for year 28,500 360 61,741
At 31 December 2023 28,500 8,787 256,581
NET BOOK VALUE
At 31 December 2023 218,386 - 399,015
At 31 December 2022 119,240 360 307,236


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 29,043 2,476
Other debtors 67,080 56,646
96,123 59,122

Tim Purslow Limited (Registered number: 08674343)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 54,942 45,299
Taxation and social security 32,664 22,671
Other creditors 409,056 341,053
496,662 409,023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 903,917 903,918

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 3,891 46,877
Between one and five years 1,297 5,188
5,188 52,065

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 41,270 38,524

Deferred
tax
£   
Balance at 1 January 2023 38,524
Accelerated Capital Allowances 2,746
Balance at 31 December 2023 41,270

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100