Company registration number 07394715 (England and Wales)
TI BRANDS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
TI BRANDS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TI BRANDS LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
848,103
825,142
Current assets
Debtors
4
60,269
14,581
Cash at bank and in hand
45,774
26,128
106,043
40,709
Creditors: amounts falling due within one year
Loans and overdrafts
46,048
40,062
Taxation and social security
24,464
-
0
Other creditors
32,575
12,192
103,087
52,254
Net current assets/(liabilities)
2,956
(11,545)
Total assets less current liabilities
851,059
813,597
Creditors: amounts falling due after more than one year
Loans and overdrafts
602,010
653,145
(602,010)
(653,145)
Provisions for liabilities
(14,739)
(11,964)
Net assets
234,310
148,488
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
234,210
148,388
Total equity
234,310
148,488
TI BRANDS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 30 January 2025
Mr P Telling
Director
Company registration number 07394715 (England and Wales)
TI BRANDS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

TI Brands Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, England, SL9 7QE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% straight line and 25% reducing balance
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

TI BRANDS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
TI BRANDS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
751,146
25,470
2,571
163,294
942,481
Additions
13,428
-
0
1,620
32,800
47,848
Disposals
-
0
-
0
(151)
-
0
(151)
At 30 April 2024
764,574
25,470
4,040
196,094
990,178
Depreciation and impairment
At 1 May 2023
-
0
18,458
873
98,008
117,339
Depreciation charged in the year
-
0
2,302
679
21,790
24,771
Eliminated in respect of disposals
-
0
-
0
(35)
-
0
(35)
At 30 April 2024
-
0
20,760
1,517
119,798
142,075
Carrying amount
At 30 April 2024
764,574
4,710
2,523
76,296
848,103
At 30 April 2023
751,146
7,012
1,698
65,286
825,142
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
45,420
-
0
Corporation tax recoverable
-
0
1,635
Other debtors
14,849
12,946
60,269
14,581
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
46,048
40,062
Trade creditors
6,793
-
0
Corporation tax
24,464
-
0
Other creditors
25,782
12,192
103,087
52,254
TI BRANDS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
372,010
423,145
Other creditors
230,000
230,000
602,010
653,145
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
207,823
274,810
7
Secured Debts

The following secured debts are included within creditors as at the reporting date.

 

Bank loans; £413,059 (2023 : £448,207).

 

The debt above is secured by the property concerned.

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