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REGISTERED NUMBER: SC610566 (Scotland)






































Titan 365 Ltd

Unaudited Financial Statements

for the Year Ended 31st December 2023






Titan 365 Ltd (Registered number: SC610566)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 7


Titan 365 Ltd

Company Information
for the year ended 31st December 2023







Director: D R Cowe





Registered office: Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL





Business address: The Farmhouse
Causewaybank
Chirnside
Duns
Berwickshire
TD11 3LF





Registered number: SC610566 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Titan 365 Ltd (Registered number: SC610566)

Statement of Financial Position
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 186,585 201,563

Current assets
Stocks 2,750 2,750
Debtors 5 2,180 199
Cash at bank 176 113
5,106 3,062
Creditors
Amounts falling due within one year 6 45,443 44,694
Net current liabilities (40,337 ) (41,632 )
Total assets less current liabilities 146,248 159,931

Creditors
Amounts falling due after more than one
year

7

(102,276

)

(105,491

)

Provisions for liabilities (22,560 ) (18,869 )
Net assets 21,412 35,571

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 20,412 34,571
21,412 35,571

Titan 365 Ltd (Registered number: SC610566)

Statement of Financial Position - continued
31st December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 1st April 2024 and were signed by:





D R Cowe - Director


Titan 365 Ltd (Registered number: SC610566)

Notes to the Financial Statements
for the year ended 31st December 2023

1. Statutory information

Titan 365 Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

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.
Plant and equipment - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade creditors, accruals, other loans, directors' loans and hire purchase contracts.

Directors' loans (being repayable on demand), trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Other loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss in the Statement of Income and Retained Earnings.


Titan 365 Ltd (Registered number: SC610566)

Notes to the Financial Statements - continued
for the year ended 31st 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

Titan 365 Ltd (Registered number: SC610566)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. Tangible fixed assets
Fixtures
Plant and and Motor Office
equipment fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1st January 2023 157,604 52,295 21,890 14,766 246,555
Additions 7,642 - - 411 8,053
At 31st December 2023 165,246 52,295 21,890 15,177 254,608
Depreciation
At 1st January 2023 31,510 3,873 5,814 3,795 44,992
Charge for year 12,967 4,843 4,019 1,202 23,031
At 31st December 2023 44,477 8,716 9,833 4,997 68,023
Net book value
At 31st December 2023 120,769 43,579 12,057 10,180 186,585
At 31st December 2022 126,094 48,422 16,076 10,971 201,563

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 2,180 199

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts 4,054 3,489
Trade creditors 13,155 18,951
Taxation and social security 4,050 5,049
Other creditors 24,184 17,205
45,443 44,694

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 3,876 7,929
Other creditors 98,400 97,562
102,276 105,491

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 35,998 34,678

Titan 365 Ltd (Registered number: SC610566)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 7,930 11,418

Hire purchase contracts are secured against the assets to which they relate.

9. Post balance sheet events

Since the year end, on 28 March 2024, an interim dividend for the year ended 31 December 2024 of £20 per share has been declared.

10. Directors advances, credits and guarantees

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

2023 2022
Director £ £
Balance outstanding at start of period - 3,677
Amounts advanced - -
Amounts repaid - (3,677 )
Balance outstanding at end of period - -

This loan is unsecured, interest free and it is repayable on demand.