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Registration number: 11807641

T2Z Care Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

T2Z Care Services Ltd

Contents

Director's Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

T2Z Care Services Ltd

Director's Report for the Year Ended 29 February 2024

The director presents his report and the financial statements for the year ended 29 February 2024.

Director of the company

The director who held office during the year was as follows:

Mr T Zimbalatti

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 10 February 2025
 

.........................................
Mr T Zimbalatti
Director

 

T2Z Care Services Ltd

(Registration number: 11807641)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,237

Current assets

 

Stocks

-

500

Debtors

5

55,929

103,564

Cash at bank and in hand

 

17,143

16,584

 

73,072

120,648

Creditors: Amounts falling due within one year

6

(239,113)

(99,034)

Net current (liabilities)/assets

 

(166,041)

21,614

Net (liabilities)/assets

 

(166,041)

22,851

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

(166,241)

22,651

Shareholders' (deficit)/funds

 

(166,041)

22,851

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Approved and authorised by the director on 10 February 2025
 

.........................................
Mr T Zimbalatti
Director

 

T2Z Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Bearland Lodge
45-47 Longsmith Street
Gloucester
Gloucestershire
GL1 2HT
England

These financial statements were authorised for issue by the director on 10 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

T2Z Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

T2Z Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 9).

 

T2Z Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

2,498

2,498

At 29 February 2024

2,498

2,498

Depreciation

At 1 March 2023

1,261

1,261

Charge for the year

1,237

1,237

At 29 February 2024

2,498

2,498

Carrying amount

At 29 February 2024

-

-

At 28 February 2023

1,237

1,237

5

Debtors

Current

2024
£

2023
£

Trade debtors

25,970

17,015

Prepayments

-

2,028

Other debtors

29,959

84,521

 

55,929

103,564

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,496

7,176

Trade creditors

 

19,000

1

Taxation and social security

 

198,427

86,944

Accruals and deferred income

 

2,208

1,794

Other creditors

 

13,253

3,119

Directors loan account

 

729

-

 

239,113

99,034

 

T2Z Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

140

140

140

140

Ordinary B shares of £1 each

40

40

40

40

Ordinary C shares of £1 each

20

20

20

20

200

200

200

200

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

5,496

7,176

9

Dividends

2024

2023

£

£

Interim dividend of £175.00 (2023 - £14.28) per ordinary share

22,651

2,000

 

 
 

T2Z Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

10

Related party transactions

As at 29 February 2024, T Zimbalatti, Director, was owed £729 by the Company (2023: £56,143 owed to the company). The maximum amount owed to the Company in the year was £71,348. The balance is included in Other Creditors (2023: Other Debtors). There are no fixed repayment terms and interest is charged at 2.5%.