2022-06-072023-08-312023-08-31false14153921TSN (NORTHEAST) 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TSN (NORTHEAST) LIMITED

Registered Number
14153921
(England and Wales)

Unaudited Financial Statements for the Period ended
31 August 2023

TSN (NORTHEAST) LIMITED
Company Information
for the period from 7 June 2022 to 31 August 2023

Director

MASOOD, Tariq

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

14153921 (England and Wales)
TSN (NORTHEAST) LIMITED
Balance Sheet as at
31 August 2023

Notes

2023

£

£

Current assets
Stocks73,281
Debtors886,613
Cash at bank and on hand12,291
102,185
Creditors amounts falling due within one year9(91,101)
Net current assets (liabilities)11,084
Total assets less current liabilities11,084
Net assets11,084
Capital and reserves
Called up share capital100
Profit and loss account10,984
Shareholders' funds11,084
The financial statements were approved and authorised for issue by the Director on 7 March 2024, and are signed on its behalf by:
MASOOD, Tariq
Director
Registered Company No. 14153921
TSN (NORTHEAST) LIMITED
Notes to the Financial Statements
for the period ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
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).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

2023
Average number of employees during the year9
6.Description of nature of transactions and balances with related parties
At the year-end, Amount owed by/to group undertaking balances include £7,131 due to ATM (North East) Ltd and £8,469 due to KTM (North East) Ltd and £8,100 due from TM (Holdings) Ltd and £48,959 due from SBM (Northern) Ltd and £10,000 due from KATS (Stockton) Ltd, where Mr T Masood is also director of those companies. Included in other debtors is an amount of £13,767 which relates to Lounge (MBR) Limited, where Mr. T Masood is also director and shareholder of the company.
7.Stocks

2023

£
Raw materials and consumables3,281
Total3,281
8.Debtors

2023

£
Amounts owed by group undertakings67,059
Other debtors13,767
Prepayments and accrued income5,787
Total86,613
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

£
Trade creditors / trade payables31,343
Amounts owed to related parties15,600
Taxation and social security22,062
Other creditors16,975
Accrued liabilities and deferred income5,121
Total91,101
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.