Registered number
04837024
T J S Servicing Limited
Unaudited Filleted Accounts
31 July 2024
T J S Servicing Limited
Registered number: 04837024
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 23,420 12,829
Current assets
Stocks 1,890 2,412
Debtors 4 9,425 13,205
Cash at bank and in hand 16,830 14,279
28,145 29,896
Creditors: amounts falling due within one year 5 (9,865) (27,024)
Net current assets 18,280 2,872
Total assets less current liabilities 41,700 15,701
Provisions for liabilities (4,450) -
Net assets 37,250 15,701
Capital and reserves
Called up share capital 105 105
Profit and loss account 37,145 15,596
Shareholders' funds 37,250 15,701
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
T J Stafford
T J Stafford
Director
Approved by the board on 18 September 2024
T J S Servicing Limited
Notes to the Accounts
for the year ended 31 July 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.
Going concern
Since the year end, the United Kingdom, amongst other countires, have been struck by the Coronavirus (COVID-19) pandemic. Whilst the impact to the company is unquantifiable at present, the director has considered the financial health of the company along with the various government measures put in place to support businesses through the pandemic and with this in mind, the director is confident that the company, at the date of signing, will continue as a going concern for the foreseeable future.
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:
Plant and machinery over 4 years
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 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 17,138
Additions 24,981
Disposals (13,995)
At 31 July 2024 28,124
Depreciation
At 1 August 2023 4,309
Charge for the year 1,561
On disposals (1,166)
At 31 July 2024 4,704
Net book value
At 31 July 2024 23,420
At 31 July 2023 12,829
4 Debtors 2024 2023
£ £
Trade debtors 6,319 13,013
Other debtors 3,106 192
9,425 13,205
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 386 386
Taxation and social security costs 528 17,749
Other creditors 8,951 8,889
9,865 27,024
6 Controlling party
The company is controlled by T J Stafford.
7 Other information
T J S Servicing Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Arthur Street
Ampthill
Bedfordshire
MK45 2QQ
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