Registered number
10625315
TUS Holdings Ltd
Filleted Accounts
31 January 2024
TUS Holdings Ltd
Registered number: 10625315
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 528,458 235,000
Investments 4 200 200
528,658 235,200
Current assets
Debtors 5 5,734 5,734
Investments held as current assets 6 - 11,997
Cash at bank and in hand 3,438 15,500
9,172 33,231
Creditors: amounts falling due within one year 7 (155,955) (125,219)
Net current liabilities (146,783) (91,988)
Total assets less current liabilities 381,875 143,212
Creditors: amounts falling due after more than one year 8 (352,464) (88,017)
Net assets 29,411 55,195
Capital and reserves
Called up share capital 200 200
Revaluation reserve 10 54,288 54,288
Profit and loss account (25,077) 707
Shareholder's funds 29,411 55,195
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Beck
Director
Approved by the board on 23 May 2024
TUS Holdings Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not provided
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 235,000 - 235,000
Additions 210,343 99,738 310,081
At 31 January 2024 445,343 99,738 545,081
Depreciation
Charge for the year - 16,623 16,623
At 31 January 2024 - 16,623 16,623
Net book value
At 31 January 2024 445,343 83,115 528,458
At 31 January 2023 235,000 - 235,000
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2023 200
At 31 January 2024 200
5 Debtors 2024 2023
£ £
Other debtors 5,734 5,734
6 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments - 11,997
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 518 (3,352)
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 39,200 11,279
Trade creditors 170 85
Amounts owed to group undertakings and undertakings in which the company has a participating interest 100 -
Taxation and social security costs 1,052 4,300
Other creditors 115,433 109,555
155,955 125,219
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 352,464 88,017
9 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 39,200 42,900
10 Revaluation reserve 2024 2023
£ £
At 1 February 2023 54,288 19,288
Gain on revaluation of land and buildings - 35,000
At 31 January 2024 54,288 54,288
11 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M Beck
Directors Loan account 885 - - 885
885 - - 885
12 Controlling party
The company is controlled by the director by virtue of their shareholding in the company.
13 Other information
TUS Holdings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
21 Granary Wharf Business Park
Wetmore Road
Burton Upon Trent
Staffordshire
DE14 1DU
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