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REGISTERED NUMBER: 01291290 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

T.K.T. Cosy Foam Limited

T.K.T. Cosy Foam Limited (Registered number: 01291290)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T.K.T. Cosy Foam Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M Johnson
Mrs V Johnson





SECRETARY: M Johnson





REGISTERED OFFICE: 5 Stephenson Road
Stephenson Industrial Estate
Washington
Tyne and Wear
NE37 3HR





REGISTERED NUMBER: 01291290 (England and Wales)





ACCOUNTANTS: John Scrivens
11 Sunderland Street
Houghton-le-Spring
Tyne and Wear
DH4 4BD

T.K.T. Cosy Foam Limited (Registered number: 01291290)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 650,605 520,195

CURRENT ASSETS
Stocks 165,309 238,828
Debtors 5 470,602 622,946
Cash at bank 119,768 233,710
755,679 1,095,484
CREDITORS
Amounts falling due within one year 6 852,495 1,084,427
NET CURRENT (LIABILITIES)/ASSETS (96,816 ) 11,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

553,789

531,252

CREDITORS
Amounts falling due after more than one
year

7

(181,929

)

(82,386

)

PROVISIONS FOR LIABILITIES (92,076 ) (95,707 )
NET ASSETS 279,784 353,159

CAPITAL AND RESERVES
Called up share capital 300 300
Capital redemption reserve 300 300
Retained earnings 279,184 352,559
279,784 353,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

T.K.T. Cosy Foam Limited (Registered number: 01291290)

Balance Sheet - continued
31 January 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:




M Johnson - Director



Mrs V Johnson - Director


T.K.T. Cosy Foam Limited (Registered number: 01291290)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

T.K.T. Cosy Foam Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Commitments under Operating Leases are accounted for to include the requirement of UITF28 which recognises the aggregate benefit of incentives as a reduction of rental expense.

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.

T.K.T. Cosy Foam Limited (Registered number: 01291290)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

The company also operates a group personal pension scheme, and makes employers contributions on behalf of participating employees. The contributions paid in the year are charged to the Profit & Loss Account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 40 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2023 24,465 993,043 77,093
Additions - 203,870 -
Disposals - (112,500 ) -
At 31 January 2024 24,465 1,084,413 77,093
DEPRECIATION
At 1 February 2023 8,987 628,104 33,201
Charge for year 1,547 48,238 4,388
Eliminated on disposal - (112,499 ) -
At 31 January 2024 10,534 563,843 37,589
NET BOOK VALUE
At 31 January 2024 13,931 520,570 39,504
At 31 January 2023 15,478 364,939 43,892

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 202,685 12,852 1,310,138
Additions - 7,274 211,144
Disposals - - (112,500 )
At 31 January 2024 202,685 20,126 1,408,782
DEPRECIATION
At 1 February 2023 106,802 12,849 789,943
Charge for year 25,346 1,214 80,733
Eliminated on disposal - - (112,499 )
At 31 January 2024 132,148 14,063 758,177
NET BOOK VALUE
At 31 January 2024 70,537 6,063 650,605
At 31 January 2023 95,883 3 520,195

T.K.T. Cosy Foam Limited (Registered number: 01291290)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 69,602 122,679 192,281
Additions 203,870 - 203,870
Transfer to ownership (18,950 ) (21,995 ) (40,945 )
At 31 January 2024 254,522 100,684 355,206
DEPRECIATION
At 1 February 2023 16,788 52,830 69,618
Charge for year 10,809 20,268 31,077
Transfer to ownership (6,517 ) (12,713 ) (19,230 )
At 31 January 2024 21,080 60,385 81,465
NET BOOK VALUE
At 31 January 2024 233,442 40,299 273,741
At 31 January 2023 52,814 69,849 122,663

5. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 371,683 531,455
Other debtors 73,519 66,091
445,202 597,546

Amounts falling due after more than one year:
Amounts receivable in respect of operating
leases

25,400

25,400

Aggregate amounts 470,602 622,946

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 68,723 36,809
Trade creditors 353,312 502,324
Taxation and social security 73,218 83,528
Other creditors 347,242 451,766
852,495 1,084,427

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 15,833 25,833
Hire purchase contracts 166,096 56,553
181,929 82,386

T.K.T. Cosy Foam Limited (Registered number: 01291290)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 234,819 93,362
Invoice discounting 289,552 368,104
524,371 461,466

Discounting advances are secured against the Trade Debt to which they relate and by Fixed and floating charge over company assets.