TBR 24-7 Limited Filleted Accounts Cover
TBR 24-7 Limited
Company No. 01893766
Information for Filing with The Registrar
31 March 2024
TBR 24-7 Limited Balance Sheet Registrar
at
31 March 2024
Company No.
01893766
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
114,92376,332
114,92376,332
Current assets
Stocks
5
5,7615,092
Debtors
6
422,573598,119
Cash at bank and in hand
195,312263,560
623,646866,771
Creditors: Amount falling due within one year
7
(302,623)
(568,132)
Net current assets
321,023298,639
Total assets less current liabilities
435,946374,971
Creditors: Amounts falling due after more than one year
8
(63,186)
(53,817)
Provisions for liabilities
Deferred taxation
(28,668)
(19,010)
Net assets
344,092302,144
Capital and reserves
Called up share capital
100100
Profit and loss account
11
343,992302,044
Total equity
344,092302,144
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 22 July 2024 and signed on its behalf by:
D.C. Roberts
Director
22 July 2024
TBR 24-7 Limited Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
TBR 24-7 Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 01893766
Its registered office is:
473 Warrington Road
Culcheth
Warrington
Cheshire
WA3 5QU
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Freehold buildings
20% Reducing balance
Plant and machinery
15% Reducing balance
Motor vehicles
25% Reducing balance
Furniture, fittings and equipment
15-20% Straight line / reducing balance
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
2023
4
Tangible fixed assets
Land and buildings
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
£
Cost or revaluation
At 1 April 2023
7414,88469,89623,65699,177
Additions
-7553,0322,75255,859
At 31 March 2024
7414,959122,92826,408155,036
Depreciation
At 1 April 2023
4473,3027,29411,80222,845
Charge for the year
4238813,4563,38217,268
At 31 March 2024
4893,69020,75015,18440,113
Net book values
At 31 March 2024
2521,269102,17811,224114,923
At 31 March 2023
294
1,582
62,602
11,854
76,332
5
Stocks
2024
2023
£
£
Finished goods
5,7615,092
5,7615,092
6
Debtors
2024
2023
£
£
Trade debtors
357,069534,374
Other debtors
5,2505,250
Prepayments and accrued income
60,25458,495
422,573598,119
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
18,00018,000
Obligations under finance lease and hire purchase contracts
22,25713,333
Trade creditors
126,017330,472
Taxes and social security
97,946
130,306
Other creditors
2,6597,458
Accruals and deferred income
35,74468,563
302,623568,132
The bank loan is secured by a debenture dated 13 September 2013 and 30 September 2016, by a fixed and floating charge covering all the property or undertaking of the company. Hire purchase is secured on the relevant assets.
8
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,43419,367
Obligations under finance lease and hire purchase contracts
61,75234,450
63,18653,817
9
Creditors: secured liabilities
2024
2023
£
£
The aggregate amount of secured liabilities included within creditors
103,44385,150
10
Share Capital
100 Ordinary shares of £1 each
11
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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