Training in Construction (TIC) SW Limited 14890568 false 2023-05-24 2024-05-31 2024-05-31 The principal activity of the company is that of training in the construction industry. Digita Accounts Production Advanced 6.30.9574.0 true true 14890568 2023-05-24 2024-05-31 14890568 2024-05-31 14890568 core:RetainedEarningsAccumulatedLosses 2024-05-31 14890568 core:ShareCapital 2024-05-31 14890568 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14890568 core:FurnitureFittings 2024-05-31 14890568 bus:SmallEntities 2023-05-24 2024-05-31 14890568 bus:AuditExemptWithAccountantsReport 2023-05-24 2024-05-31 14890568 bus:FullAccounts 2023-05-24 2024-05-31 14890568 bus:SmallCompaniesRegimeForAccounts 2023-05-24 2024-05-31 14890568 bus:RegisteredOffice 2023-05-24 2024-05-31 14890568 bus:Director1 2023-05-24 2024-05-31 14890568 bus:Director2 2023-05-24 2024-05-31 14890568 bus:PrivateLimitedCompanyLtd 2023-05-24 2024-05-31 14890568 core:FurnitureFittings 2023-05-24 2024-05-31 14890568 1 2023-05-24 2024-05-31 14890568 countries:EnglandWales 2023-05-24 2024-05-31 iso4217:GBP xbrli:pure

Registration number: 14890568

Training in Construction (TIC) SW Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Period from 24 May 2023 to 31 May 2024

 

Training in Construction (TIC) SW Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Training in Construction (TIC) SW Limited

(Registration number: 14890568)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

595

Current assets

 

Debtors

4,998

Cash at bank and in hand

 

16,446

 

21,444

Creditors: Amounts falling due within one year

(24,431)

Net current liabilities

 

(2,987)

Net liabilities

 

(2,392)

Capital and reserves

 

Called up share capital

100

Profit and loss account

(2,492)

Total equity

 

(2,392)

For the financial period ending 31 May 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 of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

Mr J Luffman

Director

Miss J M A Luffman

Director

 

Training in Construction (TIC) SW Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 24 May 2023 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maidendown Stage
Burlescombe
Tiverton
Devon
EX16 7JX

These financial statements were authorised for issue by the Board on 7 November 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The accounts prepared are for a period greater than one year, this is due to this being the first set of accounts prepared for the company since it was incorporated. There is therefore no comparative period for the accounts available.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Training in Construction (TIC) SW Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 24 May 2023 to 31 May 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture & fittings

15% reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

Additions

700

700

At 31 May 2024

700

700

Depreciation

Charge for the period

105

105

At 31 May 2024

105

105

Carrying amount

At 31 May 2024

595

595