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REGISTERED NUMBER: 06701823 (England and Wales)










TLC DESIGN LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






TLC DESIGN LTD (REGISTERED NUMBER: 06701823)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TLC DESIGN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T L Cotton
Mrs D C Cotton





SECRETARY: Mrs D C Cotton





REGISTERED OFFICE: 45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP





REGISTERED NUMBER: 06701823 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

TLC DESIGN LTD (REGISTERED NUMBER: 06701823)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2 2
Tangible assets 5 5,436 4,910
5,438 4,912

CURRENT ASSETS
Stocks 387,389 584,161
Debtors 6 981,643 890,290
Cash at bank and in hand 4,480,029 3,307,684
5,849,061 4,782,135
CREDITORS
Amounts falling due within one year 7 730,890 832,119
NET CURRENT ASSETS 5,118,171 3,950,016
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,123,609

3,954,928

PROVISIONS FOR LIABILITIES 1,033 933
NET ASSETS 5,122,576 3,953,995

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,122,476 3,953,895
SHAREHOLDERS' FUNDS 5,122,576 3,953,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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.

TLC DESIGN LTD (REGISTERED NUMBER: 06701823)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023



The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:




T L Cotton - Director



Mrs D C Cotton - Director


TLC DESIGN LTD (REGISTERED NUMBER: 06701823)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

TLC Design Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets
Depreciation is provided at the following rate to write the asset off over it's estimated useful life.

Patents and Licences - 3 year straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings - 15% reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

TLC DESIGN LTD (REGISTERED NUMBER: 06701823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 11,468
AMORTISATION
At 1 January 2023
and 31 December 2023 11,466
NET BOOK VALUE
At 31 December 2023 2
At 31 December 2022 2

5. TANGIBLE FIXED ASSETS
Fixtures Computer
& Fittings equipment Totals
£    £    £   
COST
At 1 January 2023 2,727 29,677 32,404
Additions 483 2,558 3,041
At 31 December 2023 3,210 32,235 35,445
DEPRECIATION
At 1 January 2023 1,885 25,609 27,494
Charge for year 198 2,317 2,515
At 31 December 2023 2,083 27,926 30,009
NET BOOK VALUE
At 31 December 2023 1,127 4,309 5,436
At 31 December 2022 842 4,068 4,910

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,853 59,710
Other debtors 952,790 830,580
981,643 890,290

TLC DESIGN LTD (REGISTERED NUMBER: 06701823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 31,225
Trade creditors 430,162 400,727
Taxation and social security 300,375 396,019
Other creditors 353 4,148
730,890 832,119

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
T L Cotton and Mrs D C Cotton
Balance outstanding at start of year 626,853 -
Amounts advanced 191,311 834,996
Amounts repaid (108,927 ) (208,143 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 709,237 626,853

Interest is calculated at the official rate and charged where appropriate.