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Company Registration No. 14375040 (England and Wales)
TR Wings Limited Unaudited accounts for the period from 25 September 2022 to 30 September 2023
TR Wings Limited Unaudited accounts Contents
Page
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TR Wings Limited Company Information for the period from 25 September 2022 to 30 September 2023
Directors
Shangara Singh Choongh Avtar Singh Sandhar Ravtej Singh Mangat Tajinder Singh Choongh
Company Number
14375040 (England and Wales)
Registered Office
Local Centre Unit 5 Pye Green Rd Noble Road Hednesford Cannock WS12 4RW United Kingdom
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TR Wings Limited Statement of financial position as at 30 September 2023
2023 
Notes
£ 
Fixed assets
Intangible assets
13,500 
Tangible assets
135,279 
148,779 
Current assets
Inventories
3,200 
Debtors
28,260 
Cash at bank and in hand
38,407 
69,867 
Creditors: amounts falling due within one year
(207,153)
Net current liabilities
(137,286)
Net assets
11,493 
Capital and reserves
Called up share capital
100 
Profit and loss account
11,393 
Shareholders' funds
11,493 
For the period ending 30 September 2023 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 15 August 2024 and were signed on its behalf by
Shangara Singh Choongh Director Company Registration No. 14375040
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TR Wings Limited Notes to the Accounts for the period from 25 September 2022 to 30 September 2023
1
Statutory information
TR Wings Limited is a private company, limited by shares, registered in England and Wales, registration number 14375040. The registered office is Local Centre, Unit 5 Pye Green Rd Noble Road, Hednesford, Cannock, WS12 4RW, United Kingdom.
2
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The 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. The financial statements are prepared in pound sterling (£), which is the functional and presentation currency of the company.
Turnover
Turnover represents restaurant takings registered at the point of sale through electronic tills, and is shown net of Value Added Tax.
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:
Plant & machinery
20% reducing balance
Computer equipment
33.33% reducing balance
Other intangible assets
Other intangible assets represent franchise fees. Franchise fees are amortised over their useful life of over 10 years.
Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable. Current and deferred tax is charged or credited to profit and loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity. Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: 1) The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and 2) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
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TR Wings Limited Notes to the Accounts for the period from 25 September 2022 to 30 September 2023
Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing difference are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in difference periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.
Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other 
£ 
Cost
At 25 September 2022
- 
Additions
15,000 
At 30 September 2023
15,000 
Amortisation
At 25 September 2022
- 
Charge for the period
1,500 
At 30 September 2023
1,500 
Net book value
At 30 September 2023
13,500 
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 25 September 2022
- 
- 
- 
Additions
163,326 
400 
163,726 
At 30 September 2023
163,326 
400 
163,726 
Depreciation
Charge for the period
28,325 
122 
28,447 
At 30 September 2023
28,325 
122 
28,447 
Net book value
At 30 September 2023
135,001 
278 
135,279 
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TR Wings Limited Notes to the Accounts for the period from 25 September 2022 to 30 September 2023
6
Debtors
2023 
£ 
Amounts falling due within one year
Trade debtors
5,382 
Deferred tax asset
2,850 
Accrued income and prepayments
3,092 
Other debtors
16,936 
28,260 
7
Creditors: amounts falling due within one year
2023 
£ 
VAT
19,958 
Trade creditors
4,285 
Taxes and social security
1,616 
Other creditors
94 
Loans from directors
180,000 
Accruals
1,200 
207,153 
8
Deferred taxation
2023 
£ 
Accelerated capital allowances
25,703 
Tax losses carried forward
(28,553)
(2,850)
2023 
£ 
Credited to the profit and loss account
(2,850)
Provision at end of period
(2,850)
The company had unused trading losses during the financial period. Deferred tax asset has been recognised on these losses as it is considered probable that they will be relieved against future taxable profits. The closing deferred tax asset and liabilities have been calculated at the latest rates substantively enacted as at the balance sheet date standing at 19%.
9
Average number of employees
During the period the average number of employees was 14.
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