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Registration number: 14394230

Tilt Engineering and Design Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Tilt Engineering and Design Ltd

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,198

1,267

Current assets

 

Debtors

5

50,612

23,520

Cash at bank and in hand

 

3,990

100

 

54,602

23,620

Creditors: Amounts falling due within one year

6

(31,467)

(10,781)

Net current assets

 

23,135

12,839

Net assets

 

26,333

14,106

Capital and reserves

 

Called up share capital

100

100

Retained earnings

26,233

14,006

Shareholders' funds

 

26,333

14,106

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 30 August 2024
 

.........................................

Mr I A Dobson

Director

Company registration number: 14394230

 

Tilt Engineering and Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
73 Ordnance Yard
Upnor Road
Lower Upnor
Rochester
Kent
ME2 4UY

The principal activity of the company is that of the provision of engineering related scientific and technical consulting services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 31 December 2023 and had net assets of £26,333 at that date.

After making enquires, the directors have a reasonable expectation that the company has adequate resources to meet its financial obligations as they become due and therefore the financial statements have been prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of consultancy services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue from consultancy services over the period services are provided once it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Tilt Engineering and Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 3 (2022 - 0).

 

Tilt Engineering and Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Office equipment
£

Cost or valuation

At 1 January 2023

1,900

Additions

3,371

At 31 December 2023

5,271

Depreciation

At 1 January 2023

633

Charge for the year

1,440

At 31 December 2023

2,073

Carrying amount

At 31 December 2023

3,198

At 31 December 2022

1,267

5

Debtors

2023
£

2022
£

Trade debtors

40,396

23,520

Amounts owed by group undertakings

10,080

-

Other debtors

136

-

50,612

23,520

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

1,632

1,100

Amounts owed to group undertakings

6,944

-

Taxation and social security

20,204

6,360

Accruals and deferred income

1,000

750

Other creditors

1,687

2,571

31,467

10,781