0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 352,000 35,087 17,600 52,687 299,313 316,913 xbrli:pure xbrli:shares iso4217:GBP 11608944 2023-04-01 2024-03-31 11608944 2024-03-31 11608944 2023-03-31 11608944 2022-04-01 2023-03-31 11608944 2023-03-31 11608944 2022-03-31 11608944 core:NetGoodwill 2023-04-01 2024-03-31 11608944 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 11608944 bus:Director2 2023-04-01 2024-03-31 11608944 bus:Director1 2023-04-01 2024-03-31 11608944 core:NetGoodwill 2023-03-31 11608944 core:NetGoodwill 2024-03-31 11608944 core:WithinOneYear 2024-03-31 11608944 core:WithinOneYear 2023-03-31 11608944 core:AfterOneYear 2024-03-31 11608944 core:AfterOneYear 2023-03-31 11608944 core:ShareCapital 2024-03-31 11608944 core:ShareCapital 2023-03-31 11608944 core:RetainedEarningsAccumulatedLosses 2024-03-31 11608944 core:RetainedEarningsAccumulatedLosses 2023-03-31 11608944 core:NetGoodwill 2023-03-31 11608944 bus:Director1 2022-03-31 11608944 bus:SmallEntities 2023-04-01 2024-03-31 11608944 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11608944 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11608944 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11608944 bus:FullAccounts 2023-04-01 2024-03-31 11608944 bus:OrdinaryShareClass1 2024-03-31 11608944 bus:OrdinaryShareClass1 2023-03-31
COMPANY REGISTRATION NUMBER: 11608944
Tinies London & International Limited
Filleted Unaudited Financial Statements
31 March 2024
Tinies London & International Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
299,313
316,913
Current assets
Debtors
6
170,592
153,148
Cash at bank and in hand
56,593
17,672
----------
----------
227,185
170,820
Creditors: amounts falling due within one year
7
321,149
205,815
----------
----------
Net current liabilities
93,964
34,995
----------
----------
Total assets less current liabilities
205,349
281,918
Creditors: amounts falling due after more than one year
8
190,086
219,523
----------
----------
Net assets
15,263
62,395
----------
----------
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
15,261
62,393
--------
--------
Shareholders funds
15,263
62,395
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tinies London & International Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 8 May 2024 , and are signed on behalf of the board by:
Mr A Stanford- Tuck
Director
Company registration number: 11608944
Tinies London & International Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 34 - 35 Eastcastle St, London, W1W 8DW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 73 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
352,000
----------
Amortisation
At 1 April 2023
35,087
Charge for the year
17,600
----------
At 31 March 2024
52,687
----------
Carrying amount
At 31 March 2024
299,313
----------
At 31 March 2023
316,913
----------
6. Debtors
2024
2023
£
£
Trade debtors
166,440
153,028
Other debtors
4,152
120
----------
----------
170,592
153,148
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
40,003
44,293
Trade creditors
15,458
19,175
Corporation tax
21,607
27,217
Social security and other taxes
236,443
113,182
Other creditors
7,638
1,948
----------
----------
321,149
205,815
----------
----------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
190,086
219,523
----------
----------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 0.01 each
200
2
200
2
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The company has granted options under the Enterprise Management Incentive Scheme over 22 shares which are exercisable in the event of a change in control of the company.
10. Contingencies
The vendor has not claimed £98,000 of the cost of goodwill purchased in 2018 and the company has now been dissolved, accordingly the cost and amortisation has been adjusted but the liability has not been provided.
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Mrs R Stanford - Tuck
( 448)
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