Company Registration No. 07637189 (England and Wales)
Tea People Ltd.
Unaudited accounts
for the year ended 31 March 2024
Tea People Ltd.
Statement of financial position
as at 31 March 2024
Tangible assets
7,171
6,566
Inventories
120,000
107,000
Cash at bank and in hand
39,508
22,505
Creditors: amounts falling due within one year
(70,576)
(74,468)
Net current assets
223,052
221,132
Total assets less current liabilities
230,223
227,698
Creditors: amounts falling due after more than one year
(68,227)
(76,383)
Net assets
161,996
151,315
Called up share capital
1,000
1,000
Profit and loss account
160,996
150,315
Shareholders' funds
161,996
151,315
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by
Neeraj Agarwal
Director
Company Registration No. 07637189
Tea People Ltd.
Notes to the Accounts
for the year ended 31 March 2024
Tea People Ltd. is a private company, limited by shares, registered in England and Wales, registration number 07637189. The registered office is Unit 5, Broughton Close, 115 Loverock Road, Reading, United Kingdom, RG30 1DZ.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
64
12,590
9,393
3,768
25,815
Additions
1,002
-
172
1,381
2,555
At 31 March 2024
1,066
12,590
9,565
5,149
28,370
At 1 April 2023
13
12,590
5,392
1,254
19,249
Charge for the year
211
-
834
905
1,950
At 31 March 2024
224
12,590
6,226
2,159
21,199
At 31 March 2024
842
-
3,339
2,990
7,171
At 31 March 2023
51
-
4,001
2,514
6,566
Amounts falling due within one year
Trade debtors
85,777
89,394
Accrued income and prepayments
1,056
-
Amounts falling due after more than one year
Amounts due from group undertakings etc.
38,561
67,573
Tea People Ltd.
Notes to the Accounts
for the year ended 31 March 2024
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
37,525
52,937
Amounts owed to group undertakings and other participating interests
-
2,713
Taxes and social security
23,895
10,985
Other creditors
3,156
1,124
Loans from directors
6,000
6,709
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Creditors: amounts falling due after more than one year
2024
2023
Taxes and social security
8,872
-
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Transactions with related parties
Tea People Limited and Tea People Trading Limited are wholly owned by Vishaka Agarwal (50%) and Neeraj Agarwal (50%). Thus, making them Associated companies.
During the year there were the following related-party transactions:
Tea People Limited sold £ 17,525 (2023: £ 33,917) of stock to Tea People Trading Limited.
Tea People Limited purchased £ 48,820 (2023: £ 21,498) of stock from Tea People Trading Limited.
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Average number of employees
During the year the average number of employees was 9 (2023: 13).