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Registration number: 09895744

TZ250 Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 December 2023

 

TZ250 Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

TZ250 Limited

(Registration number: 09895744)
Statement of Financial Position
31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

20,679

20,679

Tangible assets

5

384

451

 

21,063

21,130

Current assets

 

Cash at bank and in hand

 

10,898

4,913

Creditors: Amounts falling due within one year

7

(82,516)

(68,070)

Net current liabilities

 

(71,618)

(63,157)

Total assets less current liabilities

 

(50,555)

(42,027)

Creditors: Amounts falling due after more than one year

7

(4,833)

(6,833)

Net liabilities

 

(55,388)

(48,860)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(55,488)

(48,960)

Shareholders' deficit

 

(55,388)

(48,860)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

TZ250 Limited

(Registration number: 09895744)
Statement of Financial Position
31 December 2023

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

.........................................
A L Taylor
Director

 

TZ250 Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL
England

These financial statements were authorised for issue by the Board on 20 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

TZ250 Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

over 4 years

Fixtures and fittings

15% reducing balance

Computer equipment

over 2 years

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development costs

over 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

TZ250 Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

TZ250 Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

20,679

20,679

At 31 December 2023

20,679

20,679

Amortisation

Carrying amount

At 31 December 2023

20,679

20,679

At 31 December 2022

20,679

20,679

The aggregate amount of research and development expenditure recognised as an expense during the period is £12,350 (2022 - £16,861).
 

 

TZ250 Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

2,268

20,017

22,285

At 31 December 2023

2,268

20,017

22,285

Depreciation

At 1 January 2023

1,821

20,013

21,834

Charge for the year

67

-

67

At 31 December 2023

1,888

20,013

21,901

Carrying amount

At 31 December 2023

380

4

384

At 31 December 2022

447

4

451

6

Debtors

Current

2023
£

2022
£

 

-

-

 

TZ250 Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,742

-

Taxation and social security

2,327

1,100

Accruals and deferred income

145

-

Other creditors

78,302

66,970

82,516

68,070

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

4,833

6,833

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

4,833

6,833