2023-04-012024-03-312024-03-31false13562072TLS (KPR) 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TLS (KPR) LIMITED

Registered Number
13562072
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

TLS (KPR) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

CHADD, Joshua Jonathon

Registered Address

7-7c Snuff Street
Devizes
SN10 1DU

Registered Number

13562072 (England and Wales)
TLS (KPR) LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks496,95684,956
Debtors5133,708150,688
230,664235,644
Creditors amounts falling due within one year6(17,436)(30,564)
Net current assets (liabilities)213,228205,080
Total assets less current liabilities213,228205,080
Creditors amounts falling due after one year7(227,250)(215,250)
Net assets(14,022)(10,170)
Capital and reserves
Called up share capital101101
Profit and loss account(14,123)(10,271)
Shareholders' funds(14,022)(10,170)
The financial statements were approved and authorised for issue by the Director on 15 October 2024, and are signed on its behalf by:
CHADD, Joshua Jonathon
Director
Registered Company No. 13562072
TLS (KPR) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Development costs
Capitalised development costs are stated at cost less accumulated amortisation and accumulated impairment losses (cost model). Amortisation is recognised using the straight-line basis and results in the carrying amount being expensed in profit or loss over the estimated useful life.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year11
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Stocks

2024

2023

££
Work in progress96,95684,956
Total96,95684,956
5.Debtors: amounts due within one year

2024

2023

££
Other debtors133,708150,688
Total133,708150,688
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables17,43627,614
Accrued liabilities and deferred income-2,950
Total17,43630,564
7.Creditors: amounts due after one year

2024

2023

££
Other creditors227,250215,250
Total227,250215,250