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Registered number: 06814374










TNJ PIPE CLIPS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
TNJ PIPE CLIPS LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 5


 
TNJ PIPE CLIPS LIMITED
REGISTERED NUMBER: 06814374

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

  

Tangible assets
 4 
-
-

Current assets
  

Stocks
  
18,919
18,384

Debtors: amounts falling due within one year
 5 
28,672
20,912

Cash at bank and in hand
  
24,978
29,303

  
72,569
68,599

Creditors: amounts falling due within one year
 6 
(72,087)
(65,623)

Net current assets
  
 
 
482
 
 
2,976

  

Net assets
  
482
2,976


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
479
2,973

  
482
2,976


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 February 2025.




N.J. Jordan-Goodman
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
TNJ PIPE CLIPS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

TNJ Pipe Clips Limited (the Company) is a private company limited by shares and incorporated and domiciled in England. The address of the registered office and principal place of business is H4 New Yatt Business Centre, New Yatt Road, New Yatt, Witney, OX29 6TJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 (£).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
TNJ PIPE CLIPS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

  
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Page 3

 
TNJ PIPE CLIPS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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



3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets







Office equipment

£



Cost


At 1 March 2023
1,090



At 29 February 2024

1,090



Depreciation


At 1 March 2023
1,090



At 29 February 2024

1,090



Net book value



At 29 February 2024
-



At 28 February 2023
-



Page 4

 
TNJ PIPE CLIPS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
22,536
12,816

Other debtors
5,944
7,888

Prepayments and accrued income
192
208

28,672
20,912



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
23,322
37,887

Corporation tax
7,960
8,144

Other taxation and social security
15,233
517

Accruals and deferred income
25,572
19,075

72,087
65,623



7.


Directors' benefits: advances, credits and guarantees

At the year end a director owed £2,972 (2023: £3,944) to the company, the balance being unsecured, interest-free and with no fixed repayment date. Payments of £8,028 (2023: £8,028) were made to the director with repayments of £9,000 (2023: £3,537) to the company, and the maximum balance outstanding during the year was £4,613 (2023: £3,537).
At the year end another director owed £2,972 (2023: £3,944) to the company, the balance being unsecured, interest-free and with no fixed repayment date. Payments of £8,028 (2023: £8,028) were made to the director with repayments of £9,000 (2023: £3,537) to the company, and the maximum balance outstanding during the year was £4,613 (2023: £3,537).

 
Page 5