2 false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07448810 2022-12-01 2023-11-30 07448810 2023-11-30 07448810 2022-11-30 07448810 2021-12-01 2022-11-30 07448810 2022-11-30 07448810 2021-11-30 07448810 core:MotorVehicles 2022-12-01 2023-11-30 07448810 bus:Director1 2022-12-01 2023-11-30 07448810 core:MotorVehicles 2022-11-30 07448810 core:MotorVehicles 2023-11-30 07448810 core:WithinOneYear 2023-11-30 07448810 core:WithinOneYear 2022-11-30 07448810 core:ShareCapital 2023-11-30 07448810 core:ShareCapital 2022-11-30 07448810 core:RetainedEarningsAccumulatedLosses 2023-11-30 07448810 core:RetainedEarningsAccumulatedLosses 2022-11-30 07448810 bus:Director1 2022-11-30 07448810 bus:Director1 2023-11-30 07448810 bus:Director1 2021-11-30 07448810 bus:Director1 2022-11-30 07448810 bus:Director1 2021-12-01 2022-11-30 07448810 bus:SmallEntities 2022-12-01 2023-11-30 07448810 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07448810 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07448810 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07448810 bus:FullAccounts 2022-12-01 2023-11-30 07448810 core:OfficeEquipment 2022-12-01 2023-11-30 07448810 core:OfficeEquipment 2022-11-30 07448810 core:OfficeEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 07448810
TPS Futures Limited
Filleted Unaudited Financial Statements
30 November 2023
TPS Futures Limited
Balance Sheet
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
641
609
Current assets
Debtors
6
138,651
135,181
Cash at bank and in hand
90,203
72,225
---------
---------
228,854
207,406
Creditors: amounts falling due within one year
7
95,187
97,336
---------
---------
Net current assets
133,667
110,070
---------
---------
Total assets less current liabilities
134,308
110,679
---------
---------
Net assets
134,308
110,679
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
134,306
110,677
---------
---------
Shareholders funds
134,308
110,679
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
Mr T P Stevens
Director
Company registration number: 07448810
TPS Futures Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worlsey Bridge Park, London, SE26 5BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the trading income earned in the year and is measured at the fair value of the consideration received or receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Office equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 December 2022
1,000
4,077
5,077
Additions
649
649
-------
-------
-------
At 30 November 2023
1,000
4,726
5,726
-------
-------
-------
Depreciation
At 1 December 2022
1,000
3,468
4,468
Charge for the year
617
617
-------
-------
-------
At 30 November 2023
1,000
4,085
5,085
-------
-------
-------
Carrying amount
At 30 November 2023
641
641
-------
-------
-------
At 30 November 2022
609
609
-------
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
138,651
135,181
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
14,068
20,487
Social security and other taxes
238
58
Other creditors
80,881
76,791
--------
--------
95,187
97,336
--------
--------
8. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
228,854
207,406
---------
---------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
80,883
76,793
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr T P Stevens
( 61,683)
( 3,653)
( 65,336)
--------
-------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr T P Stevens
( 57,547)
( 4,136)
( 61,683)
--------
-------
--------