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REGISTERED NUMBER: 02832144 (England and Wales)






Unaudited Financial Statements

for the Year Ended 31st July 2023

for

TIC Products Limited

TIC Products Limited (Registered number: 02832144)

Contents of the Financial Statements
for the Year Ended 31st July 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


TIC Products Limited

Company Information
for the Year Ended 31st July 2023







DIRECTOR: A J Jauncey





SECRETARY: Mrs S I Jauncey





REGISTERED OFFICE: 12 Walton Road
Hartlebury
Kidderminster
Worcestershire
DY10 4JA





REGISTERED NUMBER: 02832144 (England and Wales)





ACCOUNTANTS: Neil Westwood & Co.
Chartered Accountants
101 Dixons Green Road
Dudley
West Midlands
DY2 7DJ

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
TIC Products Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TIC Products Limited for the year ended 31st July 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of TIC Products Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TIC Products Limited and state those matters that we have agreed to state to the director of TIC Products Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TIC Products Limited and its director for our work or for this report.

It is your duty to ensure that TIC Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TIC Products Limited. You consider that TIC Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TIC Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Neil Westwood & Co.
Chartered Accountants
101 Dixons Green Road
Dudley
West Midlands
DY2 7DJ


28th March 2024

TIC Products Limited (Registered number: 02832144)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,766 5,228

CURRENT ASSETS
Debtors 5 1,666 2,666
Cash at bank 2,059 11,348
3,725 14,014
CREDITORS
Amounts falling due within one year 6 6,090 13,187
NET CURRENT (LIABILITIES)/ASSETS (2,365 ) 827
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,401

6,055

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,301 5,955
SHAREHOLDERS' FUNDS 4,401 6,055

TIC Products Limited (Registered number: 02832144)

Balance Sheet - continued
31st July 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 28th March 2024 and were signed by:





A J Jauncey - Director


TIC Products Limited (Registered number: 02832144)

Notes to the Financial Statements
for the Year Ended 31st July 2023


1. STATUTORY INFORMATION

TIC Products 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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

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.

TIC Products Limited (Registered number: 02832144)

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


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st August 2022 27,510 1,250 17,190 45,950
Additions 3,026 - 675 3,701
At 31st July 2023 30,536 1,250 17,865 49,651
DEPRECIATION
At 1st August 2022 25,760 1,250 13,712 40,722
Charge for year 851 - 1,312 2,163
At 31st July 2023 26,611 1,250 15,024 42,885
NET BOOK VALUE
At 31st July 2023 3,925 - 2,841 6,766
At 31st July 2022 1,750 - 3,478 5,228

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 320 1,320
Other debtors 1,346 1,346
1,666 2,666

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 564 1,024
Taxation and social security 83 82
Other creditors 5,443 12,081
6,090 13,187

TIC Products Limited (Registered number: 02832144)

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


7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st July 2023 and 31st July 2022:

2023 2022
£    £   
A J Jauncey
Balance outstanding at start of year - 10,317
Amounts repaid - (10,317 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S I Jauncey & Mr A Jauncey, company secretary & director.