Registered number
03744076
Trade Advertising Services Ltd
Filleted Accounts
31 July 2024
Trade Advertising Services Ltd
Registered number: 03744076
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,778 6,085
Current assets
Stocks 3,000 3,000
Debtors 4 115,941 115,216
Cash at bank and in hand 80,515 76,281
199,456 194,497
Creditors: amounts falling due within one year 5 (26,855) (34,413)
Net current assets 172,601 160,084
Net assets 203,379 166,169
Capital and reserves
Called up share capital 3 3
Profit and loss account 203,376 166,166
Shareholders' funds 203,379 166,169
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.
P E Jackson
Director
Approved by the board on 26 March 2025
Trade Advertising Services Ltd
Notes to the Accounts
for the year ended 31 July 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:
Motor Vehicles Over 5 years
Plant and machinery 15% Reducing Balance
Fixtures, fittings, tools and equipment 20% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Current tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 100,054 11,846 111,900
Additions 4,319 28,400 32,719
At 31 July 2024 104,373 40,246 144,619
Depreciation
At 1 August 2023 94,403 11,412 105,815
Charge for the year 1,915 6,111 8,026
At 31 July 2024 96,318 17,523 113,841
Net book value
At 31 July 2024 8,055 22,723 30,778
At 31 July 2023 5,651 434 6,085
4 Debtors 2024 2023
£ £
Trade debtors 43,717 42,966
Other debtors 72,224 72,250
115,941 115,216
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 13,604 21,402
Other creditors 13,251 13,011
26,855 34,413
6 Other information
Trade Advertising Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Eastwood Court
Hawarden Industrial Park
Manor Lane
Hawarden
CH5 3QB
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