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Registration number: 14604053

Titan Company Management Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Period from 19 January 2023 to 31 January 2024

 

Titan Company Management Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Titan Company Management Ltd

Company Information

Directors

Mr J Farrugia

Mr D A Peacock

Registered office

79A Fidlas Road
Cardiff
CF14 0LX

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Titan Company Management Ltd

(Registration number: 14604053)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

Current assets

 

Cash at bank and in hand

 

94

Creditors: Amounts falling due within one year

(665)

Total assets less current liabilities

 

(571)

Accruals and deferred income

 

(960)

Net liabilities

 

(1,531)

Capital and reserves

 

Called up share capital

4

100

Retained earnings

(1,631)

Shareholders' deficit

 

(1,531)

 

Titan Company Management Ltd

(Registration number: 14604053)
Abridged Balance Sheet as at 31 January 2024

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................

Mr J Farrugia
Director

 

Titan Company Management Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 19 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
79A Fidlas Road
Cardiff
CF14 0LX
Wales

These financial statements were authorised for issue by the Board on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors consider the going concern basis of preparing the accounts to be appropriate because, in their opinion, the company will continue to secure access to sufficient funding in order to pay its debts as they fall due. Accordingly, the financial statements have been prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Titan Company Management Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 19 January 2023 to 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Share capital

Allotted, called up and fully paid shares

2024

No.

£

ordinary share capital of £1 each

100

100

   


New shares allotted
During the period 100 ordinary shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £100.

 

Titan Company Management Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 19 January 2023 to 31 January 2024

5

Related party transactions

Key management personnel

Directors

Summary of transactions with key management

During the period the directors made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount due to the directors was £544.