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COMPANY REGISTRATION NUMBER: 10031238
TOTAL ANALYTICAL SOLUTIONS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
29 February 2024
TOTAL ANALYTICAL SOLUTIONS LTD
FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
TOTAL ANALYTICAL SOLUTIONS LTD
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
78,929
86,868
Current assets
Stocks
224,000
190,520
Debtors
6
72,948
77,732
Cash at bank and in hand
463,076
316,635
---------
---------
760,024
584,887
Creditors: amounts falling due within one year
7
279,499
208,282
---------
---------
Net current assets
480,525
376,605
---------
---------
Total assets less current liabilities
559,454
463,473
---------
---------
Net assets
559,454
463,473
---------
---------
Capital and reserves
Called up share capital
40
40
Profit and loss account
559,414
463,433
---------
---------
Shareholders funds
559,454
463,473
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TOTAL ANALYTICAL SOLUTIONS LTD
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 10 August 2024 , and are signed on behalf of the board by:
Mr O Barnes
Director
Company registration number: 10031238
TOTAL ANALYTICAL SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit C2, Lambs Farm Business Park, Basingstoke Road, Swallowfield, Reading, RG7 1PQ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each year end. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Revenue refers to the revenue earned from the Company's principal activity; that of a retailer. The revenue shown in the statement of comprehensive income represents amounts invoiced during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% Reducing Balance
Motor vehicles
-
25% Reducing Balance
Equipment
-
25% Reducing Balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 5 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2023
6,005
86,648
41,490
134,143
Additions
4,084
4,084
-------
--------
--------
---------
At 29 February 2024
6,005
86,648
45,574
138,227
-------
--------
--------
---------
Depreciation
At 1 March 2023
278
27,791
19,206
47,275
Charge for the year
126
9,398
2,499
12,023
-------
--------
--------
---------
At 29 February 2024
404
37,189
21,705
59,298
-------
--------
--------
---------
Carrying amount
At 29 February 2024
5,601
49,459
23,869
78,929
-------
--------
--------
---------
At 28 February 2023
5,727
58,857
22,284
86,868
-------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
66,254
74,732
Other debtors
6,694
3,000
--------
--------
72,948
77,732
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
144,844
99,926
Corporation tax
94,440
67,203
Social security and other taxes
30,947
23,201
Other creditors
9,268
17,952
---------
---------
279,499
208,282
---------
---------