Acorah Software Products - Accounts Production 14.5.601 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 10626510 Mr Daniel Wells Mrs Francesca Wells Mrs Francesca Wells iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10626510 2023-02-28 10626510 2024-02-28 10626510 2023-03-01 2024-02-28 10626510 frs-core:CurrentFinancialInstruments 2024-02-28 10626510 frs-core:Non-currentFinancialInstruments 2024-02-28 10626510 frs-core:ComputerEquipment 2023-03-01 2024-02-28 10626510 frs-core:MotorVehicles 2024-02-28 10626510 frs-core:MotorVehicles 2023-03-01 2024-02-28 10626510 frs-core:MotorVehicles 2023-02-28 10626510 frs-core:PlantMachinery 2023-03-01 2024-02-28 10626510 frs-core:RevaluationReserve 2023-02-28 10626510 frs-core:RevaluationReserve 2024-02-28 10626510 frs-core:ShareCapital 2024-02-28 10626510 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 10626510 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 10626510 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 10626510 frs-bus:SmallEntities 2023-03-01 2024-02-28 10626510 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 10626510 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 10626510 frs-bus:Director1 2023-03-01 2024-02-28 10626510 frs-bus:Director1 2023-02-28 10626510 frs-bus:Director1 2024-02-28 10626510 frs-bus:Director2 2023-03-01 2024-02-28 10626510 frs-bus:Director3 2023-03-01 2024-02-28 10626510 frs-core:CurrentFinancialInstruments 2 2024-02-28 10626510 frs-countries:EnglandWales 2023-03-01 2024-02-28 10626510 2022-02-28 10626510 2023-02-28 10626510 2022-03-01 2023-02-28 10626510 frs-core:CurrentFinancialInstruments 2023-02-28 10626510 frs-core:Non-currentFinancialInstruments 2023-02-28 10626510 frs-core:WithinOneYear 2023-02-28 10626510 frs-core:RevaluationReserve 2023-02-28 10626510 frs-core:ShareCapital 2023-02-28 10626510 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 10626510 frs-core:CurrentFinancialInstruments 2 2023-02-28
Registered number: 10626510
TSS Homes Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Kennedys Accounting Limited
160 Eureka Park
Kennington
Ashford
Kent
TN25 4AZ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10626510
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,331 11,664
9,331 11,664
CURRENT ASSETS
Debtors 5 12,165 32,423
Cash at bank and in hand - 2,369
12,165 34,792
Creditors: Amounts Falling Due Within One Year 6 (41,451 ) (30,420 )
NET CURRENT ASSETS (LIABILITIES) (29,286 ) 4,372
TOTAL ASSETS LESS CURRENT LIABILITIES (19,955 ) 16,036
Creditors: Amounts Falling Due After More Than One Year 7 (3,899 ) (5,000 )
NET (LIABILITIES)/ASSETS (23,854 ) 11,036
CAPITAL AND RESERVES
Called up share capital 9 15 15
Revaluation reserve 11 11,020 11,020
Income Statement (34,889 ) 1
SHAREHOLDERS' FUNDS (23,854) 11,036
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Daniel Wells
Director
16/05/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TSS Homes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10626510 . The registered office is 160 Eureka Park, Kennington, Ashford, Kent, TN25 4AZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 3 year straight line
Motor Vehicles 20% reducing balance
Computer Equipment 3 year straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 March 2023 14,580
As at 28 February 2024 14,580
Depreciation
As at 1 March 2023 2,916
Provided during the period 2,333
As at 28 February 2024 5,249
Net Book Value
As at 28 February 2024 9,331
As at 1 March 2023 11,664
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,894 1,800
CIS debtors - 21,793
VAT 1,271 -
Directors' loan accounts - 8,830
12,165 32,423
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,931
Bank loans and overdrafts 8,571 2,222
Corporation tax 627 17,721
Other taxes and social security 12,758 6,344
VAT - 202
Capital On Tap 1,972 -
CIS Suspense 2,323 -
Directors' loan accounts 15,200 -
41,451 30,420
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,899 5,000
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 3,931
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 15 15
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Daniel Wells 8,830 - - - -
The above loan is unsecured, interest free and repayable on demand.
11. Reserves
Revaluation Reserve
£
As at 1 March 2023 11,020
As at 28 February 2024 11,020
Page 5