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Registered number: 06855254
Tily Carpentry & Property Maintenance Limited
Financial Statements
For The Year Ended 31 March 2024
William Price & Co Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06855254
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,164 49,976
34,164 49,976
CURRENT ASSETS
Debtors 5 712,596 545,137
Cash at bank and in hand 460,578 601,735
1,173,174 1,146,872
Creditors: Amounts Falling Due Within One Year 6 (151,294 ) (124,304 )
NET CURRENT ASSETS (LIABILITIES) 1,021,880 1,022,568
TOTAL ASSETS LESS CURRENT LIABILITIES 1,056,044 1,072,544
Creditors: Amounts Falling Due After More Than One Year 7 (11,847 ) (28,949 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,541 ) -
NET ASSETS 1,035,656 1,043,595
CAPITAL AND RESERVES
Called up share capital 9 2 2
Capital redemption reserve 50 50
Profit and Loss Account 1,035,604 1,043,543
SHAREHOLDERS' FUNDS 1,035,656 1,043,595
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
D A Tily
Director
16 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tily Carpentry & Property Maintenance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06855254 . The registered office is Grooms House Stanshawes Court, Yate, Bristol, BS37 4DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles Straight line 5 years
Fixtures & Fittings Straight line 7 years
Computer Equipment Straightline
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 168,465 15,747 184,212
Additions - 749 749
Disposals (11,994 ) - (11,994 )
As at 31 March 2024 156,471 16,496 172,967
Depreciation
As at 1 April 2023 120,964 13,272 134,236
Provided during the period 15,832 729 16,561
Disposals (11,994 ) - (11,994 )
As at 31 March 2024 124,802 14,001 138,803
Net Book Value
As at 31 March 2024 31,669 2,495 34,164
As at 1 April 2023 47,501 2,475 49,976
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 181,758 149,165
Prepayments and accrued income 11,989 7,004
Other debtors 59,079 59,079
Corporation tax recoverable assets 8,584 8,584
261,410 223,832
Due after more than one year
Amounts owed by other participating interests 451,186 321,305
451,186 321,305
712,596 545,137
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,842 6,842
Trade creditors 82,037 48,062
Bank loans and overdrafts 10,648 10,648
Other taxes and social security 33,070 41,544
VAT 14,591 14,048
Accruals and deferred income 3,520 3,160
Director's loan account 586 -
151,294 124,304
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,639 18,481
Bank loans 208 10,468
11,847 28,949
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Page 6
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,842 6,842
Later than one year and not later than five years 11,639 18,481
18,481 25,323
18,481 25,323
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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