Silverfin false false 29/02/2024 01/03/2023 29/02/2024 Mr P M Bruce 23/05/2024 19/04/2022 Mr P Harrison 23/05/2024 29 November 2024 The principal activity of the Company was that of the manufacture of custom steel product and the provision of powder coating services. 13811485 2024-02-29 13811485 bus:Director1 2024-02-29 13811485 bus:Director2 2024-02-29 13811485 2023-02-28 13811485 core:CurrentFinancialInstruments 2024-02-29 13811485 core:CurrentFinancialInstruments 2023-02-28 13811485 core:ShareCapital 2024-02-29 13811485 core:ShareCapital 2023-02-28 13811485 core:RetainedEarningsAccumulatedLosses 2024-02-29 13811485 core:RetainedEarningsAccumulatedLosses 2023-02-28 13811485 core:PlantMachinery 2023-02-28 13811485 core:PlantMachinery 2024-02-29 13811485 2023-03-01 2024-02-29 13811485 bus:FilletedAccounts 2023-03-01 2024-02-29 13811485 bus:SmallEntities 2023-03-01 2024-02-29 13811485 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13811485 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13811485 bus:Director1 2023-03-01 2024-02-29 13811485 bus:Director2 2023-03-01 2024-02-29 13811485 core:PlantMachinery 2023-03-01 2024-02-29 13811485 2021-12-21 2023-02-28 iso4217:GBP xbrli:pure

Company No: 13811485 (England and Wales)

TILSON MANUFACTURING LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

TILSON MANUFACTURING LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

TILSON MANUFACTURING LIMITED

COMPANY INFORMATION

For the financial year ended 29 February 2024
TILSON MANUFACTURING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 29 February 2024
DIRECTOR Mr P M Bruce (Resigned 23 May 2024)
Mr P Harrison (Appointed 23 May 2024)
REGISTERED OFFICE Carlyle House
78 Chorley New Road
Bolton
BL1 4BY
United Kingdom
COMPANY NUMBER 13811485 (England and Wales)
CHARTERED ACCOUNTANTS Barlow Andrews LLP
Carlyle House
78 Chorley New Road
Bolton
TILSON MANUFACTURING LIMITED

BALANCE SHEET

As at 29 February 2024
TILSON MANUFACTURING LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 29.02.2024 28.02.2023
£ £
Fixed assets
Tangible assets 4 39,845 45,905
39,845 45,905
Current assets
Stocks 5,000 5,000
Debtors 5 21,472 30,814
Cash at bank and in hand 13,441 16,179
39,913 51,993
Creditors: amounts falling due within one year 6 ( 268,628) ( 197,817)
Net current liabilities (228,715) (145,824)
Total assets less current liabilities (188,870) (99,919)
Net liabilities ( 188,870) ( 99,919)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 188,970 ) ( 100,019 )
Total shareholders' deficit ( 188,870) ( 99,919)

For the financial 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.

Director's responsibilities:

The financial statements of Tilson Manufacturing Limited (registered number: 13811485) were approved and authorised for issue by the Director on 29 November 2024. They were signed on its behalf by:

Mr P Harrison
Director
TILSON MANUFACTURING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
TILSON MANUFACTURING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Tilson Manufacturing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Carlyle House, 78 Chorley New Road, Bolton, BL1 4BY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

Year ended
29.02.2024
Period from
21.12.2021 to
28.02.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 6

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 March 2023 52,198 52,198
Additions 944 944
At 29 February 2024 53,142 53,142
Accumulated depreciation
At 01 March 2023 6,293 6,293
Charge for the financial year 7,004 7,004
At 29 February 2024 13,297 13,297
Net book value
At 29 February 2024 39,845 39,845
At 28 February 2023 45,905 45,905

5. Debtors

29.02.2024 28.02.2023
£ £
Trade debtors 15,337 29,330
Other debtors 6,135 1,484
21,472 30,814

6. Creditors: amounts falling due within one year

29.02.2024 28.02.2023
£ £
Trade creditors 27,987 46,547
Other taxation and social security 2,429 7,258
Other creditors 238,212 144,012
268,628 197,817

7. Related party transactions

As at the balance sheet date the company was owed the following amounts by related companies. The amounts are disclosed as Other debtors :
Tradescape Holdings Limited £100 (2023:£100).

As at the balance sheet date the company owed the following amounts to related companies. The amounts are disclosed as Other creditors :
Tradescape Limited £57,550 (2023:£2,447) &
Surfaces Group Limited £149,538 (2023:£139,020).