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Registered number: SC240957

Tangram Furnishers Limited

ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023


Tangram Furnishers Limited

ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DIRECTORS
J Darwell-Stone
S M Ramsay
T A Innes
REGISTERED OFFICE
33/37 Jeffrey Street
Edinburgh
City of Edinburgh
EH1 1DH
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC240957
ACCOUNTANTS
Hodgson and Company
16 Barnes Green
Livingston
West Lothian
EH54 8PP

Tangram Furnishers Limited

ACCOUNTS
FOR THEYEARENDED31 DECEMBER 2023
CONTENTS
Page
Balance Sheet3
Notes To The Accounts4

Tangram Furnishers Limited

BALANCE SHEET AT 31 December 2023
20232022
Notes££
FIXED ASSETS
Tangible assets413,33111,594
CURRENT ASSETS
Stock119,852138,835
Debtors6100,90883,778
Cash at bank and in hand528,524623,994
749,284846,607
CREDITORS: Amounts falling due within one year7309,708565,550
NET CURRENT ASSETS439,576281,057
TOTAL ASSETS LESS CURRENT LIABILITIES452,907292,651
CREDITORS: Amounts falling due after more than one year815,83325,833
PROVISIONS FOR LIABILITIES AND CHARGES2,5301,630
NET ASSETS434,544265,188
CAPITAL AND RESERVES
Called up share capital22
Profit and loss account434,542265,186
SHAREHOLDERS' FUNDS434,544265,188
For the year ending 31 December 2023 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 29 August 2024 and signed on their behalf by
.............................
S M Ramsay
Director

Tangram Furnishers Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS 1021 a
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The accounts have been prepared under the historical cost convention.
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipment 20%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
1f. Goodwill
Goodwill, being the amount paid in connection with the business in 2002, is being amortised evenly over its estimated useful life of ten years.

Tangram Furnishers Limited

1g. Government Grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually the submission of a valid claim for payment.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
2. EMPLOYEES
20232022
No.No.
Average number of employees88
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 1 January 202356,00056,000
At 31 December 202356,00056,000
Depreciation
At 1 January 202356,00056,000
At 31 December 202356,00056,000
Net Book Amounts
At 31 December 2023--
4. TANGIBLE FIXED ASSETS
Improvement
to propertyEquipmentTotal
£££
Cost
At 1 January 202325,63867,00492,642
Additions-5,0675,067
At 31 December 202325,63872,07197,709
Depreciation
At 1 January 202325,63855,41081,048
For the year-3,3303,330
At 31 December 202325,63858,74084,378
Net Book Amounts
At 31 December 2023-13,33113,331
At 31 December 2022-11,59411,594

Tangram Furnishers Limited

5. STOCK 20232022
££
Stock comprises:
Stock119,852138,835
119,852138,835
6. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors93,09844,321
Prepayments7,81039,457
100,90883,778
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax70,52254,818
VAT18,69494,705
Social security and other taxes5,0234,799
Directors current account22
Bounce Back Loan10,00010,000
Trade creditors73,737120,775
Accrued expenses131,730280,451
309,708565,550
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bounce Back Loan15,83325,833
15,83325,833