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REGISTERED NUMBER: 04918266 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

TX SQUARED LTD

TX SQUARED LTD (REGISTERED NUMBER: 04918266)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TX SQUARED LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: Mr R J Baker





SECRETARY: Ms L Baker





REGISTERED OFFICE: Hanami, 6 Broadgate Farm
Hook Road
Ampfield
Romsey
Hampshire
SO51 9AU





REGISTERED NUMBER: 04918266 (England and Wales)






TX SQUARED LTD (REGISTERED NUMBER: 04918266)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 3,374 4,096
Investments 7 674 674
4,048 4,770

CURRENT ASSETS
Debtors 8 461,068 460,868

CREDITORS
Amounts falling due within one year 9 101,766 97,175
NET CURRENT ASSETS 359,302 363,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,350

368,463

CREDITORS
Amounts falling due after more than one
year

10

(40,480

)

(88,346

)

PROVISIONS FOR LIABILITIES (844 ) (778 )
NET ASSETS 322,026 279,339

CAPITAL AND RESERVES
Called up share capital 12 50,000 50,000
Retained earnings 272,026 229,339
SHAREHOLDERS' FUNDS 322,026 279,339

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th April 2024 and were signed by:




Mr R J Baker - Director


TX SQUARED LTD (REGISTERED NUMBER: 04918266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

TX Squared Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant, machinery and equipment - 50% straight line

All fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

TX SQUARED LTD (REGISTERED NUMBER: 04918266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 8,000
AMORTISATION
At 1st January 2023
and 31st December 2023 8,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

TX SQUARED LTD (REGISTERED NUMBER: 04918266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. TANGIBLE FIXED ASSETS
Plant,
machinery
and
equipment
£   
COST
At 1st January 2023 69,981
Additions 4,294
Disposals (2,297 )
At 31st December 2023 71,978
DEPRECIATION
At 1st January 2023 65,885
Charge for year 5,016
Eliminated on disposal (2,297 )
At 31st December 2023 68,604
NET BOOK VALUE
At 31st December 2023 3,374
At 31st December 2022 4,096

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 674
NET BOOK VALUE
At 31st December 2023 674
At 31st December 2022 674

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,845 1,045
Amounts owed by group undertakings 447,223 447,473
Other debtors - 12,350
461,068 460,868

Included in other debtors is £NIL (2022: £12,350) in relation to prepayments and accrued income.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,156 52,459
Taxation and social security 25,710 13,306
Other creditors 42,900 31,410
101,766 97,175

TX SQUARED LTD (REGISTERED NUMBER: 04918266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in other creditors is £4,200 (2022: £4,000) in relation to accruals and deferred income.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 34,717 56,468
Other creditors 5,763 31,878
40,480 88,346

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 51,224 92,144

Included in bank loans is £40,585 that relates to the Coronavirus Bounce Back Loan Scheme which has a government-backed guarantee against the outstanding facility balance.

Other bank loans are secured with a fixed and floating charge over all the property or undertakings of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50,000 Ordinary £1 50,000 50,000

13. DIRECTOR'S 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
£    £   
Mr R J Baker
Balance outstanding at start of year - -
Amounts advanced 34,233 18,163
Amounts repaid (34,233 ) (18,163 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

This loan was unsecured with interest charged on overdrawn balances at HMRC approved rates and was repaid prior to the year end.