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REGISTERED NUMBER: SC257368 (Scotland)















TLS Joinery Ltd.

Financial Statements For The Year Ended 31 October 2023






TLS Joinery Ltd. (Registered number: SC257368)






Contents of the Financial Statements
For The Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TLS Joinery Ltd.

Company Information
For The Year Ended 31 October 2023







DIRECTORS: Mr T Smith
Mrs L Smith



SECRETARY: Mrs L Smith



REGISTERED OFFICE: 15 Macpherson Street
Hopeman
Moray
IV30 5TG



REGISTERED NUMBER: SC257368 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Virgin Money
151 High Street
Elgin
Moray
IV30 IDS

TLS Joinery Ltd. (Registered number: SC257368)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,103 14,305
11,103 14,305

CURRENT ASSETS
Debtors 6 599,376 606,361
Cash at bank 49,896 5,767
649,272 612,128
CREDITORS
Amounts falling due within one year 7 105,369 82,350
NET CURRENT ASSETS 543,903 529,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

555,006

544,083

CREDITORS
Amounts falling due after more than one
year

8

(7,917

)

(12,917

)

PROVISIONS FOR LIABILITIES 9 (2,370 ) (2,718 )
NET ASSETS 544,719 528,448

CAPITAL AND RESERVES
Called up share capital 10 120 120
Retained earnings 11 544,599 528,328
SHAREHOLDERS' FUNDS 544,719 528,448

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.

TLS Joinery Ltd. (Registered number: SC257368)

Balance Sheet - continued
31 October 2023


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 30 July 2024 and were signed on its behalf by:





Mr T Smith - Director


TLS Joinery Ltd. (Registered number: SC257368)

Notes to the Financial Statements
For The Year Ended 31 October 2023

1. STATUTORY INFORMATION

TLS Joinery 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of four 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.
Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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.

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.

TLS Joinery Ltd. (Registered number: SC257368)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 2,000
AMORTISATION
At 1 November 2022
and 31 October 2023 2,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Motor Computer
Equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 45,451 42,359 5,231 93,041
Additions 1,147 1 - 1,148
Disposals (14,266 ) - (1,062 ) (15,328 )
At 31 October 2023 32,332 42,360 4,169 78,861
DEPRECIATION
At 1 November 2022 39,615 34,648 4,473 78,736
Charge for year 1,561 1,929 346 3,836
Eliminated on disposal (13,754 ) - (1,060 ) (14,814 )
At 31 October 2023 27,422 36,577 3,759 67,758
NET BOOK VALUE
At 31 October 2023 4,910 5,783 410 11,103
At 31 October 2022 5,836 7,711 758 14,305

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 2,751 22,986
Other debtors 596,625 583,375
599,376 606,361

TLS Joinery Ltd. (Registered number: SC257368)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 3,509 3,754
Taxation and social security 59,459 40,807
Other creditors 37,401 32,789
105,369 82,350

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 7,917 12,917

9. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 2,370 2,718

Deferred
tax
£   
Balance at 1 November 2022 2,718
Provided during year (348 )
Balance at 31 October 2023 2,370

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
60 Ordinary 1 60 60
60 A Ordinary 1 60 60
120 120

11. RESERVES
Retained
earnings
£   

At 1 November 2022 528,328
Profit for the year 81,271
Dividends (65,000 )
At 31 October 2023 544,599

TLS Joinery Ltd. (Registered number: SC257368)

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

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £65,000 were paid to the directors .

At 31 October 2022 the directors owed the company £85,565. During the year the directors met expenses on behalf of the company totalling £447. As at 31 October 2023 the directors owed the company £85,118. This loan is interest free and has no fixed terms of repayment.

At 31 October 2022 TLS Properties Ltd, a company under common control, owed the company £466,968. During the the year TLS Properties Ltd met expenses on behalf of the company totalling £521. At 31 October 2023 TLS Properties Ltd owed TLS Joinery Ltd £466,447. This loan is interest free and has no fixed terms of repayment.