Registered number
10795413
TNA BROS LTD
Filleted Accounts
31 May 2023
TNA BROS LTD
Registered number: 10795413
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 140,000 150,000
Tangible assets 4 26,164 19,888
166,164 169,888
Current assets
Stocks 138,446 147,890
Debtors 5 141,143 133,454
Cash at bank and in hand 6,539 24,494
286,128 305,838
Creditors: amounts falling due within one year 6 (208,749) (208,332)
Net current assets 77,379 97,506
Total assets less current liabilities 243,543 267,394
Creditors: amounts falling due after more than one year 7 (34,104) (45,275)
Net assets 209,439 222,119
Capital and reserves
Called up share capital 200,000 200,000
Profit and loss account 9,439 22,119
Shareholders' funds 209,439 222,119
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.
N Akhtar
Director
Approved by the board on 19 February 2024
TNA BROS LTD
Notes to the Accounts
for the year ended 31 May 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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 200,000
At 31 May 2023 200,000
Amortisation
At 1 June 2022 50,000
Provided during the year 10,000
At 31 May 2023 60,000
Net book value
At 31 May 2023 140,000
At 31 May 2022 150,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 24,629 30,310 54,939
Additions 10,916 - 10,916
At 31 May 2023 35,545 30,310 65,855
Depreciation
At 1 June 2022 11,398 23,653 35,051
Charge for the year 2,171 2,469 4,640
At 31 May 2023 13,569 26,122 39,691
Net book value
At 31 May 2023 21,976 4,188 26,164
At 31 May 2022 13,231 6,657 19,888
5 Debtors 2023 2022
£ £
Trade debtors 138,657 131,589
Other debtors 2,486 1,865
141,143 133,454
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 71,459 63,953
Directors loan account 111,549 121,831
Taxation and social security costs 22,991 19,798
Other creditors 2,750 2,750
208,749 208,332
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 34,104 45,275
8 Other information
TNA BROS LTD is a private company limited by shares and incorporated in England. Its registered office is:
651a Mauldeth Road West
Chorlton
Manchester
M21 7SA
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