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REGISTERED NUMBER: 01977649 (England and Wales)












Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Traditional Conservatories Limited

Traditional Conservatories Limited (Registered number: 01977649)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Traditional Conservatories Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: G J Deegan
S J Deegan
Mrs D C Deegan





SECRETARY: Mrs D C Deegan





REGISTERED OFFICE: St Andrew Works
Weston Lane
Tyseley
Birmingham
West Midlands
B11 3RP





REGISTERED NUMBER: 01977649 (England and Wales)





ACCOUNTANTS: Oscroft & Co Limited
41 Tyninghame Avenue
Tettenhall
Wolverhampton
West Midlands
WV6 9PP

Traditional Conservatories Limited (Registered number: 01977649)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 182,178 147,668
182,178 147,668

CURRENT ASSETS
Stocks 58,600 67,500
Debtors 6 125,361 111,683
Cash at bank and in hand 136,054 203,764
320,015 382,947
CREDITORS
Amounts falling due within one year 7 192,776 255,217
NET CURRENT ASSETS 127,239 127,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,417

275,398

CREDITORS
Amounts falling due after more than one
year

8

(47,542

)

(34,577

)

PROVISIONS FOR LIABILITIES (34,614 ) (28,057 )
NET ASSETS 227,261 212,764

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 227,161 212,664
SHAREHOLDERS' FUNDS 227,261 212,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:



S J Deegan - Director


Traditional Conservatories Limited (Registered number: 01977649)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Traditional Conservatories Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover consists of the sales value, excluding VAT, of work in the period under contracts to supply goods and services to third parties. It includes the relevant proportion of contract value for performance up to the period end.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Traditional Conservatories Limited (Registered number: 01977649)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 60,000
AMORTISATION
At 1 March 2023
and 29 February 2024 60,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 144,528 202,383 27,363 374,274
Additions 49,595 54,617 723 104,935
Disposals (10,755 ) (58,880 ) - (69,635 )
At 29 February 2024 183,368 198,120 28,086 409,574
DEPRECIATION
At 1 March 2023 95,240 111,694 19,672 226,606
Charge for year 14,568 30,732 1,262 46,562
Eliminated on disposal (9,274 ) (36,498 ) - (45,772 )
At 29 February 2024 100,534 105,928 20,934 227,396
NET BOOK VALUE
At 29 February 2024 82,834 92,192 7,152 182,178
At 28 February 2023 49,288 90,689 7,691 147,668

Traditional Conservatories Limited (Registered number: 01977649)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 109,950
Additions 54,617
Disposals (35,580 )
At 29 February 2024 128,987
DEPRECIATION
At 1 March 2023 39,162
Charge for year 27,600
Eliminated on disposal (20,570 )
At 29 February 2024 46,192
NET BOOK VALUE
At 29 February 2024 82,795
At 28 February 2023 70,788

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 121,571 109,127
Other debtors 3,790 2,556
125,361 111,683

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 16,055 14,074
Payments on account 68,631 84,275
Trade creditors 29,822 32,515
Taxation and social security 47,409 64,374
Other creditors 30,859 59,979
192,776 255,217

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 47,542 34,577

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments at the balance sheet date amount to £12,289

10. RELATED PARTY DISCLOSURES

The company paid £25,000 (2023: £41,664) for the use of property at St. Andrew Works, Weston Lane, Birmingham,B11 3RP to the Self-Invested Personal Pension of each of the directors.

11. ULTIMATE CONTROLLING PARTY

The controlling party is S J Deegan.

The ultimate controlling party is S J Deegan.