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Registered number: 11001622
Titanium Plastering Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Berrywood Accountants
The New Studio
Wintershill Farm
Wintershill, Durley
Hampshire
SO32 2AH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11001622
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,000 10,000
Tangible Assets 5 2,698 3,324
12,698 13,324
CURRENT ASSETS
Debtors 6 5,472 5,472
5,472 5,472
Creditors: Amounts Falling Due Within One Year 7 (36,354 ) (29,967 )
NET CURRENT ASSETS (LIABILITIES) (30,882 ) (24,495 )
TOTAL ASSETS LESS CURRENT LIABILITIES (18,184 ) (11,171 )
Creditors: Amounts Falling Due After More Than One Year 8 (24,889 ) (31,907 )
NET LIABILITIES (43,073 ) (43,078 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (43,173 ) (43,178 )
SHAREHOLDERS' FUNDS (43,073) (43,078)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Philip Pearson
Director
13/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Titanium Plastering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11001622 . The registered office is The New Studio, Wintershill Farm, Durley, Hampshire, SO32 2AH.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
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:
Motor Vehicles 20% RB
Computer Equipment 33.33% RB
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 10,000
As at 31 October 2023 10,000
Net Book Value
As at 31 October 2023 10,000
As at 1 November 2022 10,000
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Page 4
5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 7,750 - 7,750
Additions - 307 307
As at 31 October 2023 7,750 307 8,057
Depreciation
As at 1 November 2022 4,426 - 4,426
Provided during the period 831 102 933
As at 31 October 2023 5,257 102 5,359
Net Book Value
As at 31 October 2023 2,493 205 2,698
As at 1 November 2022 3,324 - 3,324
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 5,472 5,472
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 9,998 10,029
Other taxes and social security 25,352 18,940
Accruals and deferred income 1,004 998
36,354 29,967
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 11,906 13,892
Directors loan account 12,983 18,015
24,889 31,907
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4