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Registered number: 01366164
Telegan Pressed Products Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01366164
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 - 30,739
- 30,739
CURRENT ASSETS
Stocks 6 - 109,086
Debtors 7 6,917 106,893
Cash at bank and in hand 15,416 45,602
22,333 261,581
Creditors: Amounts Falling Due Within One Year 8 (21,498 ) (92,495 )
NET CURRENT ASSETS (LIABILITIES) 835 169,086
TOTAL ASSETS LESS CURRENT LIABILITIES 835 199,825
Creditors: Amounts Falling Due After More Than One Year 9 - (123,177 )
NET ASSETS 835 76,648
CAPITAL AND RESERVES
Called up share capital 10 16,000 16,000
Capital redemption reserve 4,000 4,000
Profit and Loss Account (19,165 ) 56,648
SHAREHOLDERS' FUNDS 835 76,648
Page 1
Page 2
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.
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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Brian Morris
Director
9 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Telegan Pressed Products Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01366164 . The registered office is Compliance House, 3-5 Holmethorpe Avenue, Redhill, RH1 2LZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are patents and trade marks.These are recognised at cost and amortised to the profit and loss account over their estimated economic life.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight line
Motor Vehicles 20% Straight line
Fixtures & Fittings 20% Straight line
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
2.6. Taxation
Income 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 statement of comprehensive income 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 8)
3 8
Page 3
Page 4
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 April 2023 4,493
Disposals (4,493 )
As at 31 March 2024 -
Amortisation
As at 1 April 2023 4,493
Disposals (4,493 )
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 510,964 12,166 36,413 559,543
Disposals (510,964 ) (12,166 ) (36,413 ) (559,543 )
Depreciation
As at 1 April 2023 480,759 12,166 35,879 528,804
Provided during the period 7,004 - 178 7,182
Disposals (487,763 ) (12,166 ) (36,057 ) (535,986 )
As at 31 March 2024 - - - -
Net Book Value
As at 31 March 2024 - - - -
As at 1 April 2023 30,205 - 534 30,739
6. Stocks
2024 2023
£ £
Finished goods - 109,086
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Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,750 105,455
Prepayments and accrued income - 103
Deferred tax current asset - 1,335
VAT 167 -
6,917 106,893
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,998 21,613
Other creditors - 18,272
Trade Creditors - Inter-Company 13,500 48,526
Accruals and deferred income 2,000 4,084
21,498 92,495
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - Rent Free Period - 123,177
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 16,000 16,000
Page 5