Registered number
11126010
TShirt Guru Limited
Filleted Accounts
31 December 2023
TShirt Guru Limited
Registered number: 11126010
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 116,886 111,035
Investments 4 240,000 240,000
356,886 351,035
Current assets
Stocks 15,237 13,642
Debtors 5 366,756 387,717
Cash at bank and in hand 177,439 71,960
559,432 473,319
Creditors: amounts falling due within one year 6 (373,560) (350,219)
Net current assets 185,872 123,100
Total assets less current liabilities 542,758 474,135
Provisions for liabilities (29,221) (21,097)
Net assets 513,537 453,038
Capital and reserves
Called up share capital 250 250
Profit and loss account 513,287 452,788
Shareholder's funds 513,537 453,038
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G S Hayre
Director
Approved by the board on 20 December 2024
TShirt Guru Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and equipment 15% reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 8
3 Tangible fixed assets
Plant, machinery and equipment
£
Cost
At 1 January 2023 203,747
Additions 26,478
At 31 December 2023 230,225
Depreciation
At 1 January 2023 92,712
Charge for the year 20,627
At 31 December 2023 113,339
Net book value
At 31 December 2023 116,886
At 31 December 2022 111,035
4 Investments
Other
investments
£
Cost
At 1 January 2023 240,000
At 31 December 2023 240,000
5 Debtors 2023 2022
£ £
Trade debtors 174,765 326,517
Other debtors 191,991 61,200
366,756 387,717
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 238,452 217,376
Taxation and social security costs 125,231 113,551
Other creditors 9,877 19,292
373,560 350,219
7 Controlling party
Controlling party is Mr G S Hayre.
8 Other information
TShirt Guru Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hayre Building
Ulverscroft Road
Leicester
LE4 6BY
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