Registered number
10628112
TUS (Trade Underfloor Supplies) Ltd
Filleted Accounts
31 January 2024
TUS (Trade Underfloor Supplies) Ltd
Registered number: 10628112
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 20,864 29,631
Current assets
Stocks 17,592 16,630
Debtors 4 189,578 164,318
Cash at bank and in hand 115,077 56,934
322,247 237,882
Creditors: amounts falling due within one year 5 (268,260) (186,962)
Net current assets 53,987 50,920
Total assets less current liabilities 74,851 80,551
Creditors: amounts falling due after more than one year 6 (13,394) (30,815)
Provisions for liabilities (3,964) (5,462)
Net assets 57,493 44,274
Capital and reserves
Called up share capital 125 125
Share premium 77,975 77,975
Profit and loss account (20,607) (33,826)
Shareholder's funds 57,493 44,274
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 (Trade Underfloor Supplies) 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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 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 7 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 104,670
Additions 3,676
At 31 January 2024 108,346
Depreciation
At 1 February 2023 75,039
Charge for the year 12,443
At 31 January 2024 87,482
Net book value
At 31 January 2024 20,864
At 31 January 2023 29,631
4 Debtors 2024 2023
£ £
Trade debtors 70,663 52,889
Amounts owed by group undertakings and undertakings in which the company has a participating interest 111,328 109,528
Other debtors 7,587 1,901
189,578 164,318
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,089 22,249
Trade creditors 166,307 117,317
Amounts owed to group undertakings and undertakings in which the company has a participating interest 5,799 5,874
Taxation and social security costs 62,168 36,499
Other creditors 14,897 5,023
268,260 186,962
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,394 30,815
7 Controlling party
The company is wholly owned by TUS Holdings Ltd. TUS Holdings Ltd is controlled by the company directors, Mr M Beck and Mrs Z Beck by virtue of their shareholding.
8 Other information
TUS (Trade Underfloor Supplies) 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
Staffs
DE14 1DU
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