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TILTED SESSIONS LTD

Registered Number
13262802
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

TILTED SESSIONS LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

HODGES, Samuel
LLOYD, Eleanor Rose

Registered Address

91 Digby Crescent
London
N4 2HS

Registered Number

13262802 (England and Wales)
TILTED SESSIONS LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36,086-
6,086-
Current assets
Stocks41,4161,814
Debtors92,2419,360
Cash at bank and on hand242,84335,083
336,50046,257
Creditors amounts falling due within one year5(326,976)(145,755)
Net current assets (liabilities)9,524(99,498)
Total assets less current liabilities15,610(99,498)
Provisions for liabilities6(1,521)-
Net assets14,089(99,498)
Capital and reserves
Called up share capital100100
Profit and loss account13,989(99,598)
Shareholders' funds14,089(99,498)
The financial statements were approved and authorised for issue by the Board of Directors on 5 August 2024, and are signed on its behalf by:
HODGES, Samuel
Director
Registered Company No. 13262802
TILTED SESSIONS LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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).
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified. The company is a subsidiary of Tilted Productions Ltd 91 Digby Crescent London N4 2HS
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year21
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions6,8146,814
At 31 March 246,8146,814
Depreciation and impairment
Charge for year728728
At 31 March 24728728
Net book value
At 31 March 246,0866,086
At 31 March 23--
4.Stocks

2024

2023

££
Other stocks1,4161,814
Total1,4161,814
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,2312
Bank borrowings and overdrafts135,000135,000
Taxation and social security41,5414,297
Other creditors3,470-
Accrued liabilities and deferred income141,7346,456
Total326,976145,755
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,521-
Total1,521-