Company Registration No. 12044838 (England and Wales)
TSBC Consulting Ltd
Unaudited accounts
for the year ended 30 June 2024
TSBC Consulting Ltd
Unaudited accounts
Contents
TSBC Consulting Ltd
Company Information
for the year ended 30 June 2024
Directors
Corina Bolojan
Timotei Bolojan
Company Number
12044838 (England and Wales)
Registered Office
Timsons Business Centre
Albert (Pha) Office 2
Bath Road
Kettering
NN16 8NQ
United Kingdom
Accountants
PHA Accountants Limited
Timsons Business Centre
Bath Road
Kettering
Northamptonshire
NN16 8NQ
TSBC Consulting Ltd
Accountants' report
Accountants' report to the board of directors of TSBC Consulting Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
TSBC Consulting Ltd for the year ended
30 June 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of TSBC Consulting Ltd, as a body, in accordance with the terms of our engagement letter dated 7 June 2019. Our work has been undertaken solely to prepare for your approval the accounts of TSBC Consulting Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TSBC Consulting Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that TSBC Consulting Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of TSBC Consulting Ltd. You consider that TSBC Consulting Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of TSBC Consulting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
PHA Accountants Limited
Timsons Business Centre
Bath Road
Kettering
Northamptonshire
NN16 8NQ
5 November 2024
TSBC Consulting Ltd
Statement of financial position
as at 30 June 2024
Cash at bank and in hand
50,437
16,120
Creditors: amounts falling due within one year
(90,096)
(13,754)
Net current assets
1,233
9,275
Total assets less current liabilities
3,798
9,675
Provisions for liabilities
Called up share capital
40
40
Profit and loss account
3,117
9,635
Shareholders' funds
3,157
9,675
For the year ending 30 June 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2024 and were signed on its behalf by
Timotei Bolojan
Director
Company Registration No. 12044838
TSBC Consulting Ltd
Notes to the Accounts
for the year ended 30 June 2024
TSBC Consulting Ltd is a private company, limited by shares, registered in England and Wales, registration number 12044838. The registered office is Timsons Business Centre, Albert (Pha) Office 2, Bath Road, Kettering, NN16 8NQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line Basis
Computer equipment
33% Straight Line Basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments in shares are included at fair value. Provisions are made for the permanent fluctuations in value.
TSBC Consulting Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
985
4,550
5,535
At 30 June 2024
985
8,302
9,287
At 1 July 2023
585
4,550
5,135
Charge for the year
338
1,251
1,589
At 30 June 2024
923
5,801
6,724
At 30 June 2024
62
2,501
2,563
5
Investments
Subsidiary undertakings
Valuation at 1 July 2023
-
Valuation at 30 June 2024
2
The fixed asset investment relates to 100% shareholding in Mason Structures Ltd and Mason Design Ltd. At present both Companies are dormant with aggregate capital and reserves at 30/06/2024 of £1 each.
Amounts falling due within one year
Trade debtors
22,408
6,383
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
5,732
13,754
Loans from directors
31,541
-
TSBC Consulting Ltd
Notes to the Accounts
for the year ended 30 June 2024
8
Transactions with related parties
During the year, the dividends of £25,000 (2023: £39,862) were paid to the Directors. In addition, a dividend of £1,000 was paid to Mason Capital Holdings Ltd, a company controlled by Mr and Mrs Bolojan.
At the Balance Sheet date, the Company was owed £3,484 (2023: Nil) by AEC Software Ltd, a company controlled by Mr and Mrs Bolojan. This is included within Other debtors.
At the Balance Sheet date, The Company owed £35,650 to Quince Integrated Solutions S.R.L., a company controlled by Mr Bolojan. This is included within Other creditors.
During the year, the Company was charged by Quince Integrated Solutions S.R.L. £71,650 (2023: Nil) related to the subcontracting fees. Mr Bolojan is also a Director of Quince Integrated Solutions S.R.L.
The Company is subsidiary of Mason Capital Holdings Ltd. Mason Capital Holdings Ltd is a 50% shareholder in TSBC Consulting Ltd, a company controlled by its board of directors, Mr and Mrs Bolojan.
10
Average number of employees
During the year the average number of employees was 4 (2023: 2).