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Registered number: 7518008
T and D Ventilations Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
JENNIFER M RICHARDSON LIMITED
32 Station Road
Rainham
Gillingham
Kent
ME8 7PH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 7518008
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 22,642 38,117
22,642 38,117
CURRENT ASSETS
Debtors 6 8,363 18,063
Cash at bank and in hand 2,351 932
10,714 18,995
Creditors: Amounts Falling Due Within One Year 7 (9,699 ) (17,762 )
NET CURRENT ASSETS (LIABILITIES) 1,015 1,233
TOTAL ASSETS LESS CURRENT LIABILITIES 23,657 39,350
Creditors: Amounts Falling Due After More Than One Year 8 - (16,241 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,242 ) (7,242 )
NET ASSETS 16,415 15,867
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 16,413 15,865
SHAREHOLDERS' FUNDS 16,415 15,867
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For the year ending 29 February 2024 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 DARREN BUNTING
Director
27/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
T and D Ventilations Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 7518008 . The registered office is 32 Station Road, Rainham, Kent, ME8 7PH.
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 ten 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:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 1 1
Manufacturing 1 1
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 10,000
As at 29 February 2024 10,000
Amortisation
As at 1 March 2023 10,000
As at 29 February 2024 10,000
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 2,269 40,041 1,441 43,751
Additions 391 24,450 637 25,478
Disposals - (34,990 ) - (34,990 )
As at 29 February 2024 2,660 29,501 2,078 34,239
Depreciation
As at 1 March 2023 2,281 2,512 841 5,634
Provided during the period - 7,112 309 7,421
Disposals - (1,458 ) - (1,458 )
As at 29 February 2024 2,281 8,166 1,150 11,597
Net Book Value
As at 29 February 2024 379 21,335 928 22,642
As at 1 March 2023 (12 ) 37,529 600 38,117
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles - 37,529
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,363 14,008
VAT - 4,055
8,363 18,063
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 4,500
Trade creditors 380 260
Corporation tax 5,256 745
Other taxes and social security 500 671
VAT 3,181 -
Other creditors - 2,885
Director's loan account 382 8,701
9,699 17,762
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 16,241
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 4,500
Later than one year and not later than five years - 16,241
- 20,741
- 20,741
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 5,000 12,000
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr D Bunting by virtue of his ownership of 100% of the issued share capital in the company.
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