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REGISTERED NUMBER: 05974876 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

T&S (Louth) Ltd

T&S (Louth) Ltd (Registered number: 05974876)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


T&S (Louth) Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: I L Smith
N Thompson





SECRETARY: N Thompson





REGISTERED OFFICE: Thompson and Smith
Tattershall Way
Fairfield Industrial Estate
Louth
Lincolnshire
LN11 0YZ





REGISTERED NUMBER: 05974876 (England and Wales)

T&S (Louth) Ltd (Registered number: 05974876)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 868,341 683,083

CURRENT ASSETS
Stocks 833,695 1,069,301
Debtors 5 105,736 48,083
Cash at bank and in hand 269 2,567
939,700 1,119,951
CREDITORS
Amounts falling due within one year 6 697,447 758,706
NET CURRENT ASSETS 242,253 361,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,110,594

1,044,328

CREDITORS
Amounts falling due after more than one
year

7

(385,125

)

(355,441

)

PROVISIONS FOR LIABILITIES (30,339 ) (18,614 )
NET ASSETS 695,130 670,273

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 8 695,020 670,163
SHAREHOLDERS' FUNDS 695,130 670,273

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





I L Smith - Director


T&S (Louth) Ltd (Registered number: 05974876)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

T&S (Louth) 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.

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.
Improvements to property - Straight line over 8 years
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

T&S (Louth) Ltd (Registered number: 05974876)

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 November 2022 382,716 42,699 140,756
Additions - 35,392 121,117
Disposals - - (19,658 )
At 31 October 2023 382,716 78,091 242,215
DEPRECIATION
At 1 November 2022 - 23,645 55,222
Charge for year - 4,713 14,657
Eliminated on disposal - - (5,168 )
At 31 October 2023 - 28,358 64,711
NET BOOK VALUE
At 31 October 2023 382,716 49,733 177,504
At 31 October 2022 382,716 19,054 85,534

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2022 10,882 212,767 789,820
Additions 1,210 309,301 467,020
Disposals - (253,641 ) (273,299 )
At 31 October 2023 12,092 268,427 983,541
DEPRECIATION
At 1 November 2022 5,572 22,298 106,737
Charge for year 1,476 26,293 47,139
Eliminated on disposal - (33,508 ) (38,676 )
At 31 October 2023 7,048 15,083 115,200
NET BOOK VALUE
At 31 October 2023 5,044 253,344 868,341
At 31 October 2022 5,310 190,469 683,083


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 24,560 15,819
Other debtors 14,000 -
Directors' current accounts 14,038 -
VAT 28,284 5,670
Prepayments 24,854 26,594
105,736 48,083

T&S (Louth) Ltd (Registered number: 05974876)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 83,875 77,726
Hire purchase contracts 53,750 20,000
Trade creditors 187,574 158,571
Tax 8,835 14,426
Social security and other taxes 15,606 15,347
Other creditors 310,150 359,084
Directors' current accounts 6,964 101,064
Accrued expenses 30,693 12,488
697,447 758,706

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 33,001 32,134
Bank loans - 2-5 years 53,848 86,536
Bank loans more 5 yr by instal 69,151 82,854
Other loans more 5yrs non-inst 99,750 99,750
Hire purchase contracts 129,375 54,167
385,125 355,441

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 99,750 99,750

Repayable by instalments
Bank loans more 5 yr by instal 69,151 82,854

8. RESERVES
Retained
earnings
£   

At 1 November 2022 670,163
Profit for the year 136,457
Dividends (111,600 )
At 31 October 2023 695,020

9. RELATED PARTY DISCLOSURES

During the year, total Dividends of £ 111,600 ( 2022 - £ 81,600) were paid to the directors.

The company was under the control of the directors Mr N. Thompson and Mr I. Smith throughout the current & the previous year as both directors own 50% of the shareholding.

The T&S (Louth) Limited Retirement Benefit Scheme own part of the Land from which the company operates. During the year, Rent was payable to the Retirement Benefit Scheme of £ 5,000.00
(2022 - £ 5,000.00)