Registered number
09477412
Tiba And Marl Limited
Filleted Accounts
31 March 2024
Tiba And Marl Limited
Registered number: 09477412
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,550 7,199
Current assets
Stocks 255,570 421,257
Debtors 4 90,984 46,348
Cash at bank and in hand 79,502 143,216
426,056 610,821
Creditors: amounts falling due within one year 5 (30,283) (95,815)
Net current assets 395,773 515,006
Net assets 402,323 522,205
Capital and reserves
Called up share capital 100 100
Profit and loss account 402,223 522,105
Shareholders' funds 402,323 522,205
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Anna McDonald
Director
Approved by the board on 7 August 2024
Tiba And Marl Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 22,709
Additions 1,535
At 31 March 2024 24,244
Depreciation
At 1 April 2023 15,510
Charge for the year 2,184
At 31 March 2024 17,694
Net book value
At 31 March 2024 6,550
At 31 March 2023 7,199
4 Debtors 2024 2023
£ £
Trade debtors 18,172 44,548
Other debtors 72,812 1,800
90,984 46,348
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 33,395 70,427
Other taxes and social security costs (4,178) 24,323
Other creditors 1,066 1,065
30,283 95,815
6 Controlling party
The controlling parties are L Barron and A McDonald, by way of shareholding.
7 Other information
Tiba And Marl Limited is a private company limited by shares and incorporated in England. Its registered office is:
Huckletree West The Media Works
191 Wood Lane, White City Place
London
W12 7FP
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