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Registered number: 13857161
Tansley Sealant Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Lloyd Richards Ltd
Eaton House Stoke Prior Lane
Leominster
Herefordshire
HR6 0NA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13857161
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 80,189 25,991
80,189 25,991
CURRENT ASSETS
Stocks 5 6,000 8,000
Debtors 6 152,193 67,893
Cash at bank and in hand 46,577 25,003
204,770 100,896
Creditors: Amounts Falling Due Within One Year 7 (54,585 ) (19,078 )
NET CURRENT ASSETS (LIABILITIES) 150,185 81,818
TOTAL ASSETS LESS CURRENT LIABILITIES 230,374 107,809
Creditors: Amounts Falling Due After More Than One Year 8 (43,348 ) (19,587 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,679 ) (4,938 )
NET ASSETS 171,347 83,284
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 171,247 83,184
SHAREHOLDERS' FUNDS 171,347 83,284
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 Zach Tansley
Director
21/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Tansley Sealant Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13857161 . The registered office is 17 Chelmorton Place, Chaddesden, Derby, Derbyshire, DE21 4QL.
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 goods and services supplied by the company, net of Value Added Tax and
trade discounts and adjusted if necessary for accrued or deferred income.
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 12.33% S/line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases where substantially the risks and benefits associated with the asset are borne by the company are capitalised as tangible fixed assets and depreciated over their useful lives. The debt oustanding to the HP provider is shown on the balance sheet and interest is charged to the profit and loss based on the principal outstanding.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the
lessor are charged to the profit and loss account as they arise.
2.5. Stocks and Work in Progress
Stocks of materials are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Work in progress is valued at labour and materials only.
2.6. Taxation
Corporation Tax is calculated on the basis of the company's profit for the trading year adjusted for disallowed
expenditure and capital allowances at the rates applicable to the years in which the profit arose.
Deferred tax is provided in the event of the net book value of assets exceeding their written down value for tax
purposes at the rate of CT prevailing at the balance sheet date.
2.7. Pensions
The company operates a defined pension contribution scheme in association with People's Partnership.
Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 2)
5 2
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4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 February 2023 28,325
Additions 61,658
As at 31 January 2024 89,983
Depreciation
As at 1 February 2023 2,334
Provided during the period 7,460
As at 31 January 2024 9,794
Net Book Value
As at 31 January 2024 80,189
As at 1 February 2023 25,991
5. Stocks
31 January 2024 31 January 2023
£ £
Stock 6,000 8,000
6. Debtors
31 January 2024 31 January 2023
£ £
Due within one year
Trade debtors 46,380 27,517
Amounts recoverable on contracts 8,935 3,121
Prepayments and accrued income 6,021 -
CIS retentions 81,952 36,574
VAT recoverable 3,405 681
Staff Loans 5,500 -
152,193 67,893
7. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Trade creditors (2 ) (3 )
Corporation tax 35,543 16,959
Other taxes and social security 16,514 452
Other creditors 10 -
Pension Contributions 557 (230 )
Accruals and deferred income 1,600 1,200
Directors' loan accounts 363 700
54,585 19,078
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8. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 January 2023
£ £
Net obligations under finance lease and hire purchase contracts 43,348 19,587
9. Obligations Under Finance Leases and Hire Purchase
31 January 2024 31 January 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 43,348 19,587
10. Share Capital
31 January 2024 31 January 2023
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is the Tansley family by virtue of their ownership of 100% of the issued share capital in the company.
Page 5