Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 3 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 4 | ( |
( |
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Net current liabilities | ( |
( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | 5 | ||||||
Profit and loss account | ( |
( |
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Shareholders' funds | ( |
( |
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Alexander Anderson | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are presented in pound sterling. | ||||||||
Going concern | ||||||||
Management assess the going concern of the entity on a routine basis. There has been nothing noted to suggest that the entity is unable to continue to trade for the 12 months following the signing of the financial statements. | ||||||||
Turnover | ||||||||
Stocks | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
1 | Accounting policies (continued) | |||||||
Provisions | ||||||||
2 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | - | |||||||
4 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
5 | Share capital | Nominal | 2023 | 2023 | 2022 | |||
value | Number | £ | £ | |||||
Allotted, called up and fully paid: | ||||||||
A Ordinary shares | £1 each | 1 | 1 | 1 | ||||
B Ordinary shares | £1 each | 1 | 1 | 1 | ||||
Preferred Ordinary shares | £1 each | 1 | 1 | 1 | ||||
3 | 3 | |||||||
5 | Share capital (continued) | |||||||
The shares have the following rights: | ||||||||
Dividends: | ||||||||
The Preferred Ordinary shares have priority over the Ordinary shares as regards distribution of capital and income. They have attributed to them a notional account (the "Preferred Ordinary Share Account") in the amount of £638,878 which represents the limit of priority in respect of income and capital distribution. They are entitled to a minimum annual fixed dividend of 10% of the amount outstanding on the "Preferred Ordinary Share Account". No dividend may be paid on the Ordinary shares without the consent of the holders of the Preferred Ordinary shares until the amount outstanding on the "Preferred Ordinary Share Account" has been extinguished, and the arears, if any, on the fixed dividend have been paid. At the year end there were unpaid fixed dividends of £1,124,086 (2022: £1,023,417). The balance of £1,124,086 (2022: £1,023,417) cannot lawfully arise at the year end but is still payable by the company as and when it can lawfully arise. |
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Capital | ||||||||
On a winding up, return of capital or share sale, the net amount payable is to be applied firstly to the holders of the Preferred Ordinary shares until the amount outstanding on the "Preferred Ordinary Share Account" has been extinguished and the arears of fixed dividend, if any, have been paid, and secondly to the holders of the Ordinary shares pro rata to the number held by them. | ||||||||
Voting | ||||||||
The holders of the Preferred Ordinary shares have no vote except in relation to a resolution: to approve any capital or income distribution to the Ordinary share holders whilst any amount is still outstanding on the "Preferred Ordinary Share account"; or to vary the rights attaching to the Preferred Ordinary shares. | ||||||||
6 | Dividends | 2023 | 2022 | |||||
£ | £ | |||||||
Unpaid dividends included in other creditors due within one year | - | - | ||||||
Fixed dividends not lawfully payable | 1,124,086 | 1,023,417 | ||||||
7 | Related party transactions | |||||||
Transactions with related parties are as follows: Thistledown Investments Limited ("Thistledown") and Grandstand Media Limited ("Media") are related parties by virtue of Mr Anderson and Mr Melrose's directorships of those companies and TSS&P Limited. At the year end included in other creditors due within one year is an amount of £716,850 (2022: £716,850) due from the company to Thistledown. The company sold £49,623 to Media during the year (2022: £59,229), and at the year end £14,565 (2022: £21,512) was outstanding. The company purchased £17,638 from Media during the year (2022: £7,685), and at the year end £10,602 (2022: £9,012) was outstanding. |
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8 | Other information | |||||||
TSS&P Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Brook House | ||||||||
Asher Lane Business Park | ||||||||
Asher Lane | ||||||||
Pentrich | ||||||||
DE5 3SW |