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Registered number: 01916090
Tringhams Luxury Lampshades Ltd
Unaudited Financial Statements
For the Period 1 January 2023 to 31 March 2024
Lillian Gray Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01916090
31 March 2024 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 54,646 77,350
54,646 77,350
CURRENT ASSETS
Stocks 5 32,500 31,860
Debtors 6 137,917 79,428
Cash at bank and in hand 46,948 688,327
217,365 799,615
Creditors: Amounts Falling Due Within One Year 7 (91,228 ) (71,774 )
NET CURRENT ASSETS (LIABILITIES) 126,137 727,841
TOTAL ASSETS LESS CURRENT LIABILITIES 180,783 805,191
NET ASSETS 180,783 805,191
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 180,683 805,091
SHAREHOLDERS' FUNDS 180,783 805,191
Page 1
Page 2
For the period ending 31 March 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 George Tringham
Director
02/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Tringhams Luxury Lampshades Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01916090 . The registered office is Unit 11 & 12, Sapcote Trading, Centre, 374 High Road, London, NW10 2DH.
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. 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 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 13 (2022: 23)
13 23
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 173,236 45,170 38,844 30,089 287,339
Additions - 18,444 - 2,263 20,707
Disposals - (45,170 ) - - (45,170 )
As at 31 March 2024 173,236 18,444 38,844 32,352 262,876
Depreciation
As at 1 January 2023 135,375 16,668 28,971 28,975 209,989
Provided during the period 7,099 5,234 1,851 725 14,909
Disposals - (16,668 ) - - (16,668 )
As at 31 March 2024 142,474 5,234 30,822 29,700 208,230
Net Book Value
As at 31 March 2024 30,762 13,210 8,022 2,652 54,646
As at 1 January 2023 37,861 28,502 9,873 1,114 77,350
5. Stocks
31 March 2024 31 December 2022
£ £
Stock 32,500 31,860
6. Debtors
31 March 2024 31 December 2022
£ £
Due within one year
Trade debtors 133,927 71,918
Other debtors 3,990 7,510
137,917 79,428
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 December 2022
£ £
Trade creditors 12,746 10,777
Other creditors 9,189 8,070
Taxation and social security 69,293 52,927
91,228 71,774
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8. Share Capital
31 March 2024 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
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