IRIS Accounts Production v24.2.0.383 02330480 Board of Directors Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh023304802023-01-31023304802024-01-31023304802023-02-012024-01-31023304802022-01-31023304802022-02-012023-01-31023304802023-01-3102330480ns15:EnglandWales2023-02-012024-01-3102330480ns14:PoundSterling2023-02-012024-01-3102330480ns10:Director12023-02-012024-01-3102330480ns10:Director22023-02-012024-01-3102330480ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3102330480ns10:SmallEntities2023-02-012024-01-3102330480ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3102330480ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3102330480ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3102330480ns10:FullAccounts2023-02-012024-01-3102330480ns10:Director32023-02-012024-01-3102330480ns10:CompanySecretary12023-02-012024-01-3102330480ns10:RegisteredOffice2023-02-012024-01-3102330480ns5:CurrentFinancialInstruments2024-01-3102330480ns5:CurrentFinancialInstruments2023-01-3102330480ns5:Non-currentFinancialInstruments2024-01-3102330480ns5:Non-currentFinancialInstruments2023-01-3102330480ns5:ShareCapital2024-01-3102330480ns5:ShareCapital2023-01-3102330480ns5:RetainedEarningsAccumulatedLosses2024-01-3102330480ns5:RetainedEarningsAccumulatedLosses2023-01-3102330480ns5:PlantMachinery2023-01-3102330480ns5:PlantMachinery2023-02-012024-01-3102330480ns5:PlantMachinery2024-01-3102330480ns5:PlantMachinery2023-01-3102330480ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3102330480ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3102330480ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-01-3102330480ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-01-31
REGISTERED NUMBER: 02330480 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Traditional Structures Limited

Traditional Structures Limited (Registered number: 02330480)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Traditional Structures Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P Hadley
Miss JA Davis
LC Stainsby





SECRETARY: P Hadley





REGISTERED OFFICE: Findell Works
Landywood Lane
Cheslyn Hay
Walsall
West Midlands
WS6 7AJ





REGISTERED NUMBER: 02330480 (England and Wales)





ACCOUNTANTS: Lester Accounting Ltd
Chartered Certified Accountants
84 Wellington Drive
Cannock
Staffordshire
WS11 1PX

Traditional Structures Limited (Registered number: 02330480)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68,567 87,354

CURRENT ASSETS
Stocks 3,155 71,679
Debtors 5 858,984 1,150,273
Cash at bank and in hand 810,105 803,862
1,672,244 2,025,814
CREDITORS
Amounts falling due within one year 6 732,784 955,121
NET CURRENT ASSETS 939,460 1,070,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,008,027

1,158,047

CREDITORS
Amounts falling due after more than one
year

7

(2,228

)

(8,912

)

PROVISIONS FOR LIABILITIES (16,800 ) (21,800 )
NET ASSETS 988,999 1,127,335

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 988,997 1,127,333
SHAREHOLDERS' FUNDS 988,999 1,127,335

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.

Traditional Structures Limited (Registered number: 02330480)

Balance Sheet - continued
31 January 2024


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 Income Statement 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:




P Hadley - Director



Miss JA Davis - Director


Traditional Structures Limited (Registered number: 02330480)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Traditional Structures 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 represents sales to external customers at invoiced amounts less value added tax.

Tangible fixed assets
Depreciation is provided to write off the cost, less estimated residual values, of all tangible fixed assets over their expected useful lives.It is calculated at the following rates:

Motor vehicles- 25% reducing balance and 25% straight line
Plant and equipment- 25% reducing balance
Computer equipment- 33.33% straight line
Leasehold improvements- 10% straight line

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost include all direct costs and an appropriate proportion of fixed and variable overheads. Payments received on account are deducted from stock with excess payments on account shown in creditors.

Long - term contracts
Long - term contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Where the outcome of each long - term contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profit and loss account as the difference between the reported turnover and related costs for that contract.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Traditional Structures Limited (Registered number: 02330480)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Leased assets
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account.

Lease payments are analysed between capital and interest components. The interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the term of the lease.

Pension costs
The company operates a defined contribution scheme.

Contributions to the company's defined contribution pension scheme are charged to the profit and loss account in the year in which they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 290,396
Additions 10,800
At 31 January 2024 301,196
DEPRECIATION
At 1 February 2023 203,042
Charge for year 29,587
At 31 January 2024 232,629
NET BOOK VALUE
At 31 January 2024 68,567
At 31 January 2023 87,354

5. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 712,874 784,888
Other debtors 130,173 253,179
843,047 1,038,067

Traditional Structures Limited (Registered number: 02330480)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. DEBTORS - continued
31.1.24 31.1.23
£    £   
Amounts falling due after more than one year:
Trade debtors 15,937 112,206

Aggregate amounts 858,984 1,150,273

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 6,685 6,685
Payments received on account 176,779 244,792
Trade creditors 439,770 601,009
Amounts owed to group undertakings 10,948 10,948
Taxation and social security 54,806 58,484
Other creditors 43,796 33,203
732,784 955,121

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 2,228 8,912

8. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge amounted to £18,890 (2023 - £20,490). At 31 January 2024 there were outstanding contributions of £1,276 (2023 - £1,795) which are included in other creditors.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company paid rent of £83,000 (2023 - £77,000) in respect of land and buildings to The James Hay Pension Plan for P Hadley and Miss JA Davis.
Included in other creditors is an amount £10,000 owing to Miss JA Davis (2023 - £nil)

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by P Hadley and Miss JA Davis.