2023-05-012024-04-302024-04-30false10149452TSHC (THE SMART HOME COMPANY) 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TSHC (THE SMART HOME COMPANY) LTD

Registered Number
10149452
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

TSHC (THE SMART HOME COMPANY) LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

CARTER, Jesse Conrad
CARTER, Stephen James

Registered Address

11a Kimberley Park Road
Falmouth
TR11 2DA

Registered Number

10149452 (England and Wales)
TSHC (THE SMART HOME COMPANY) LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets311,34313,325
11,34313,325
Current assets
Stocks41,2303,500
Debtors516,5706,695
Cash at bank and on hand2,8583,496
20,65813,691
Creditors amounts falling due within one year6(30,817)(21,369)
Net current assets (liabilities)(10,159)(7,678)
Total assets less current liabilities1,1845,647
Creditors amounts falling due after one year7(7,348)(13,350)
Provisions for liabilities8(1,928)(2,157)
Net assets(8,092)(9,860)
Capital and reserves
Called up share capital22
Profit and loss account(8,094)(9,862)
Shareholders' funds(8,092)(9,860)
The financial statements were approved and authorised for issue by the Board of Directors on 20 November 2024, and are signed on its behalf by:
CARTER, Jesse Conrad
Director
Registered Company No. 10149452
TSHC (THE SMART HOME COMPANY) LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles10
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 May 2314,74612,0005006,08733,333
At 30 April 2414,74612,0005006,08733,333
Depreciation and impairment
At 01 May 2311,2474,2243364,20120,008
Charge for year700778334711,982
At 30 April 2411,9475,0023694,67221,990
Net book value
At 30 April 242,7996,9981311,41511,343
At 30 April 233,4997,7761641,88613,325
4.Stocks

2024

2023

££
Other stocks1,2303,500
Total1,2303,500
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,8171,646
Other debtors13,7535,049
Total16,5706,695
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts6,1526,152
Taxation and social security6,2092,191
Other creditors7,89412,587
Accrued liabilities and deferred income10,562439
Total30,81721,369
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,34813,350
Total7,34813,350
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,9282,157
Total1,9282,157