Tumbling Dice Limited
Unaudited Financial Statements
For the year ended 30 November 2023
Pages for Filing with Registrar
Company Registration No. 04969187 (England and Wales)
Tumbling Dice Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Tumbling Dice Limited
Balance Sheet
As at 30 November 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,326
1,767
Current assets
Debtors
4
5,352
5,600
Cash at bank and in hand
114,517
75,736
119,869
81,336
Creditors: amounts falling due within one year
5
(27,197)
(31,470)
Net current assets
92,672
49,866
Net assets
93,998
51,633
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
93,898
51,533
Total equity
93,998
51,633
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 August 2024 and are signed on its behalf by:
M Denos
M O'Neill
Director
Director
Company Registration No. 04969187
Tumbling Dice Limited
Notes to the Financial Statements
For the year ended 30 November 2023
Page 2
1
Accounting policies
Company information
Tumbling Dice Limited is a private company limited by shares incorporated in England and Wales. The registered office is 39 Delaval Terrace, Gosforth, Newcastle upon Tyne, NE3 4RT.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for research and development services provided in scientific, engineering and computer software, net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
Cash and cash equivalents 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.
1.5
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Tumbling Dice Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
1
Accounting policies
(Continued)
Page 3
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Directors' remuneration
2023
2022
£
£
Remuneration paid to directors
42,379
36,528
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2022 - 2).
Tumbling Dice Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
Page 4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 and 30 November 2023
7,981
Depreciation and impairment
At 1 December 2022
6,214
Depreciation charged in the year
441
At 30 November 2023
6,655
Carrying amount
At 30 November 2023
1,326
At 30 November 2022
1,767
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
814
1,132
Prepayments and accrued income
4,538
4,468
5,352
5,600
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
12,137
11,735
Other taxation and social security
1,648
Other creditors
12,901
15,928
Accruals and deferred income
2,159
2,159
27,197
31,470
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
Tumbling Dice Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
Page 5
7
Directors' transactions
Included in other creditors at the year end are amounts due to the directors, M Denos and M O'Neill of £6,356 (2022: £7,609) and £6,545 (2022: £8,319) respectively.