Registered number
08900858
Tictak Limited
Filleted Accounts
30 June 2024
Tictak Limited
Registered number: 08900858
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 50,216 62,770
Current assets
Debtors 4 30,960 16,957
Cash at bank and in hand 8,472 19,900
39,432 36,857
Creditors: amounts falling due within one year 5 (44,105) (20,200)
Net current (liabilities)/assets (4,673) 16,657
Total assets less current liabilities 45,543 79,427
Creditors: amounts falling due after more than one year 6 (42,559) (74,202)
Net assets 2,984 5,225
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,884 5,125
Shareholders' funds 2,984 5,225
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R J T Malyon
Director
Approved by the board on 9 January 2025
Tictak Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
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
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery at 20% reducing balance
Motor vehicle at 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 July 2023 3,102 78,161 81,263
At 30 June 2024 3,102 78,161 81,263
Depreciation
At 1 July 2023 2,102 16,391 18,493
Charge for the year 200 12,354 12,554
At 30 June 2024 2,302 28,745 31,047
Net book value
At 30 June 2024 800 49,416 50,216
At 30 June 2023 1,000 61,770 62,770
4 Debtors 2024 2023
£ £
Trade debtors 30,960 15,852
Other debtors - 1,105
30,960 16,957
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,700 754
Obligations under finance lease and hire purchase contracts 15,170 -
Taxation and social security costs 14,514 796
Other creditors 671 18,650
44,105 20,200
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,920 26,867
Obligations under finance lease and hire purchase contracts 35,639 47,335
42,559 74,202
7 Other information
Tictak Limited is a private company limited by shares and incorporated in England. Its registered office is:
45 Morrish Road
London
SW2 4EE
Tictak Limited 08900858 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2024 R J T Malyon No description of principal activity 08900858 2022-07-01 2023-06-30 08900858 core:WithinOneYear 2023-06-30 08900858 core:AfterOneYear 2023-06-30 08900858 core:ShareCapital 2023-06-30 08900858 core:RetainedEarningsAccumulatedLosses 2023-06-30 08900858 2023-07-01 2024-06-30 08900858 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08900858 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08900858 bus:Director40 2023-07-01 2024-06-30 08900858 1 2023-07-01 2024-06-30 08900858 2 2023-07-01 2024-06-30 08900858 core:PlantMachinery 2023-07-01 2024-06-30 08900858 core:Vehicles 2023-07-01 2024-06-30 08900858 countries:England 2023-07-01 2024-06-30 08900858 bus:FRS102 2023-07-01 2024-06-30 08900858 bus:FilletedAccounts 2023-07-01 2024-06-30 08900858 2024-06-30 08900858 core:WithinOneYear 2024-06-30 08900858 core:AfterOneYear 2024-06-30 08900858 core:ShareCapital 2024-06-30 08900858 core:RetainedEarningsAccumulatedLosses 2024-06-30 08900858 core:PlantMachinery 2024-06-30 08900858 core:Vehicles 2024-06-30 08900858 2023-06-30 08900858 core:PlantMachinery 2023-06-30 08900858 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure