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Registered Number: 13136940
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 January 2024

for

TCS FINE FOODS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 424,165    393,945 
424,165    393,945 
Current assets      
Stocks 4 13,857    19,125 
Debtors 5 128,172   
Cash at bank and in hand 789,135    275,333 
931,164    294,458 
Creditors: amount falling due within one year 6 (719,765)   (368,110)
Net current assets 211,399    (73,652)
 
Total assets less current liabilities 635,564    320,293 
Creditors: amount falling due after more than one year 7 (68,248)   (133,418)
Provisions for liabilities 8 (1,180)  
Net assets 566,136    186,875 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 566,036    186,775 
Shareholders' funds 566,136    186,875 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 01 August 2024 and were signed by:


-------------------------------
T Shepherd
Director
1
General Information
TCS Fine Foods Ltd is a private company, limited by shares, registered in England and Wales, registration number 13136940, registration address 23-25 Bore Street, Lichfield, Staffordshire, WS13 6NA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
The Company has transferred the significant risks and rewards of ownership to the buyer
The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
The amount of revenue can be measured reliably;
It is probable that the Company will receive the consideration due under the transaction; and
The costs incurred or to be incurred in respect of the transaction can be measured reliably.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Improvements 15% Reducing Balance
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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 the other administrative expenses.

Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 25 (2023 : 21).
3.

Tangible fixed assets

Cost or valuation Leasehold Improvements   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 February 2023 286,707    151,740    24,374    5,149    467,970 
Additions 83,765    10,658    13,235    3,047    110,705 
Disposals        
At 31 January 2024 370,472    162,398    37,609    8,196    578,675 
Depreciation
At 01 February 2023 35,050    33,038    4,229    1,708    74,025 
Charge for year 41,731    31,043    6,241    1,470    80,485 
On disposals        
At 31 January 2024 76,781    64,081    10,470    3,178    154,510 
Net book values
Closing balance as at 31 January 2024 293,691    98,317    27,139    5,018    424,165 
Opening balance as at 01 February 2023 251,657    118,702    20,145    3,441    393,945 


4.

Stocks

2024
£
  2023
£
Stocks 13,857    19,125 
13,857    19,125 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 18,172   
18,172   

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 110,000   
110,000   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 21,292    80,846 
Bank Loans & Overdrafts 14,167    14,167 
Taxation and Social Security 134,265    12,726 
Other Creditors 550,041    260,371 
719,765    368,110 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 37,778    51,944 
Other Creditors 30,470    81,474 
68,248    133,418 

8.

Provisions for liabilities

2024
£
  2023
£
Pension Provisions 1,180   
1,180   

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
74 Class A shares of £1.00 each 74    74 
26 Class B shares of £1.00 each 26    26 
100    100 

2