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REGISTERED NUMBER: 09976113 (England and Wales)















TL AUTOMOTIVE SERVICES LIMITED

Unaudited Financial Statements for the Year Ended 31 January 2024






TL AUTOMOTIVE SERVICES LIMITED (REGISTERED NUMBER: 09976113)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


TL AUTOMOTIVE SERVICES LIMITED

Company Information
for the year ended 31 January 2024







Directors: M Boylan
N Boylan





Registered office: C/O Cooper Parry
Sky View, Argosy Road
East Midlands Airport
Derby
Derbyshire
DE74 2SA





Registered number: 09976113 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

TL AUTOMOTIVE SERVICES LIMITED (REGISTERED NUMBER: 09976113)

Balance Sheet
31 January 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 2,044 1,900
Tangible assets 5 127,440 96,954
129,484 98,854

Current assets
Stocks 6 5,001 12,325
Debtors 7 11,648 7,968
Cash at bank and in hand 95,763 104,734
112,412 125,027
Creditors
Amounts falling due within one year 8 76,441 55,107
Net current assets 35,971 69,920
Total assets less current liabilities 165,455 168,774

Creditors
Amounts falling due after more than one year 9 (87,805 ) (81,061 )

Provisions for liabilities (22,742 ) (16,763 )
Net assets 54,908 70,950

Capital and reserves
Called up share capital 1 1
Retained earnings 54,907 70,949
Shareholders' funds 54,908 70,950

TL AUTOMOTIVE SERVICES LIMITED (REGISTERED NUMBER: 09976113)

Balance Sheet - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2024 and were signed on its behalf by:





M Boylan - Director


TL AUTOMOTIVE SERVICES LIMITED (REGISTERED NUMBER: 09976113)

Notes to the Financial Statements
for the year ended 31 January 2024

1. Statutory information

TL Automotive Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 7 (2023 - 7 ) .

TL AUTOMOTIVE SERVICES LIMITED (REGISTERED NUMBER: 09976113)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

4. Intangible fixed assets
Other
intangible
Goodwill assets Totals
£ £ £
Cost
At 1 February 2023 1,000 2,850 3,850
Additions - 1,125 1,125
At 31 January 2024 1,000 3,975 4,975
Amortisation
At 1 February 2023 1,000 950 1,950
Charge for year - 981 981
At 31 January 2024 1,000 1,931 2,931
Net book value
At 31 January 2024 - 2,044 2,044
At 31 January 2023 - 1,900 1,900

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
Cost
At 1 February 2023 15,198 31,094 79,920 4,068 130,280
Additions 9,450 - 54,300 - 63,750
At 31 January 2024 24,648 31,094 134,220 4,068 194,030
Depreciation
At 1 February 2023 9,600 12,248 8,721 2,757 33,326
Charge for year 2,589 5,019 25,034 622 33,264
At 31 January 2024 12,189 17,267 33,755 3,379 66,590
Net book value
At 31 January 2024 12,459 13,827 100,465 689 127,440
At 31 January 2023 5,598 18,846 71,199 1,311 96,954

6. Stocks
2024 2023
£ £
Stocks 5,001 725
Car stock - 11,600
5,001 12,325

TL AUTOMOTIVE SERVICES LIMITED (REGISTERED NUMBER: 09976113)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

7. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 11,368 5,218
Other debtors - 1,500
Prepayments 280 1,250
11,648 7,968

8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 15,311 6,225
Trade creditors 15,134 7,090
Taxation and social security 33,896 29,442
Other creditors 2,100 2,350
76,441 55,107

9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 22,500 32,500
Hire purchase contracts 63,276 40,728
Other creditors 2,029 7,833
87,805 81,061