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Registered number: 09213490
Tutis Energy Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Xeinadin South Wales & West Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09213490
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 45,194 63,625
45,194 63,625
CURRENT ASSETS
Debtors 5 391,080 871,103
Cash at bank and in hand 50,402 906,730
441,482 1,777,833
Creditors: Amounts Falling Due Within One Year 6 (436,064 ) (1,124,717 )
NET CURRENT ASSETS (LIABILITIES) 5,418 653,116
TOTAL ASSETS LESS CURRENT LIABILITIES 50,612 716,741
Creditors: Amounts Falling Due After More Than One Year 7 (37,795 ) (23,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (11,299 ) (11,907 )
NET ASSETS 1,518 681,501
CAPITAL AND RESERVES
Called up share capital 9 102 102
Profit and Loss Account 1,416 681,399
SHAREHOLDERS' FUNDS 1,518 681,501
Page 1
Page 2
For the year ending 31 January 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 Jason Smalley
Director
30/09/2024
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
Tutis Energy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09213490 . The registered office is Celtic House Caxton Place, Pentwyn, Cardiff, South Glamorgan, CF23 8HA.
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 comprises the invoiced value of services supplied by the company, net of Value Added Tax.
2.3. 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:
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Straight line
Computer Equipment 33% Straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
2.8. Provisions
Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation taking into account the risks and uncertainties surrounding the obligation.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 9 9
9 9
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 82,917 25,624 108,541
Additions - 4,461 4,461
As at 31 January 2024 82,917 30,085 113,002
Depreciation
As at 1 February 2023 28,862 16,054 44,916
Provided during the period 16,936 5,956 22,892
As at 31 January 2024 45,798 22,010 67,808
Net Book Value
As at 31 January 2024 37,119 8,075 45,194
As at 1 February 2023 54,055 9,570 63,625
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 149,106 806,629
Other debtors 53,395 35,895
Amounts owed by group undertakings 188,579 28,579
391,080 871,103
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 234,391 867,534
Bank loans and overdrafts 25,995 10,000
Corporation tax 131,311 150,719
Other taxes and social security 11,251 7,523
VAT 24,146 83,974
Net wages - 740
Other creditors 531 663
Accrued expenses 6,440 2,830
Directors' loan accounts 1,999 734
436,064 1,124,717
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 37,795 23,333
37,795 23,333
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 11,299 11,907
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
50 Ordinary A shares of £ 1.000 each 50 50
50 Ordinary B shares of £ 1.000 each 50 50
1 Ordinary C shares of £ 1.000 each 1 1
1 Ordinary D shares of £ 1.000 each 1 1
102 102
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 32,817
Later than one year and not later than five years - 68,057
- 100,874
11. Related Party Transactions
The Directors
As at the balance sheet date, the company owed the directors £1,999 (2023 : £734).
The company was charged rent & service charges at an open market rate by Smalley Property Management Partnership during the year, a partnership where the directors & relating shareholders are also partners totalling £12,415 (2023: £12,415).
12. Ultimate Controlling Party
The company's immediate controlling party is Tutis Holdings Limited (13208470) which has a registered office of Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA. The company's ultimate controlling party is the directors.
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