Registered number
08857936
Trading Efficiency & Numerate Solutions Ltd
Report and Accounts
29 December 2023
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Trading Efficiency & Numerate Solutions Ltd
Registered number: 08857936
Balance Sheet
as at 29 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 4 22,838 92,022
Cash at bank and in hand 56,003 30,689
78,841 122,711
Creditors: amounts falling due within one year 5 (39,519) (78,712)
Net current assets 39,322 43,999
Net assets 39,322 43,999
Capital and reserves
Called up share capital 2 2
Profit and loss account 39,320 43,997
Shareholders' funds 39,322 43,999
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Beech
Director
Approved by the board on 22 February 2024
Trading Efficiency & Numerate Solutions Ltd
Notes to the Accounts
for the year ended 29 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 December 2022 2,025
At 29 December 2023 2,025
Depreciation
At 30 December 2022 2,025
At 29 December 2023 2,025
Net book value
At 29 December 2023 -
4 Debtors 2023 2022
£ £
Trade debtors 8,866 2,971
Amounts owed by group undertakings and undertakings in which the company has a participating interest 13,908 14,051
Other debtors 64 75,000
22,838 92,022
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,200 21,769
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2 2
Corporation tax - 252
Other taxes and social security costs 602 443
Other creditors 34,715 56,246
39,519 78,712
6 Related party transactions
During the financial year Trading Efficiency & Numerate Solutions Limited had transactions with Tax Efficient Numerate Solutions Limited, Accountancy 4 Success Limited and BJS Management Limited all private companies registered in England & Wales and are companies with which Ian Beech and Gary Greer are directors. All transactions were carried out at arm's length and at market value.
7 Controlling party
The company is controlled by its directors who are the shareholders.
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