Company registration number 12670282 (England and Wales)
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
COMPANY INFORMATION
Directors
Mr C S Tilbury
Mr M S Tilbury
Company number
12670282
Registered office
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
Accountants
Carpenter Box
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TILBURY SOLUTIONS LTD FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tilbury Solutions Ltd for the year ended 30 June 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Tilbury Solutions Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tilbury Solutions Ltd and state those matters that we have agreed to state to the board of directors of Tilbury Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tilbury Solutions Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Tilbury Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tilbury Solutions Ltd. You consider that Tilbury Solutions Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Tilbury Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
25 March 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
19,660
5,696
Tangible assets
4
143,552
155,206
Investments
5
93,614
125,614
256,826
286,516
Current assets
Debtors
6
111,923
78,596
Cash at bank and in hand
336,301
138,135
448,224
216,731
Creditors: amounts falling due within one year
7
(177,940)
(143,588)
Net current assets
270,284
73,143
Total assets less current liabilities
527,110
359,659
Provisions for liabilities
(35,900)
(38,800)
Net assets
491,210
320,859
Capital and reserves
Called up share capital
8
4
4
Profit and loss reserves
491,206
320,855
Total equity
491,210
320,859
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
BALANCE SHEET (CONTINUED)
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
Mr C S Tilbury
Mr M S Tilbury
Director
Director
Company registration number 12670282 (England and Wales)
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information
Tilbury Solutions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.
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
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
Patents & licences
Over 10 years
1.5
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:
Fixtures and fittings
25% per annum on a diminishing balance basis
Computer equipment
25% per annum on a diminishing balance basis
Motor vehicles
25% per annum on a diminishing balance basis
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
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.
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
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.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
2
Employees
The average monthly number of persons employed by the company during the year was 1 (2023 - 0).
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 July 2023
7,120
Additions
15,284
At 30 June 2024
22,404
Amortisation and impairment
At 1 July 2023
1,424
Amortisation charged for the year
1,320
At 30 June 2024
2,744
Carrying amount
At 30 June 2024
19,660
At 30 June 2023
5,696
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
52,928
63,345
125,880
242,153
Additions
10,515
21,530
32,045
At 30 June 2024
63,443
84,875
125,880
274,198
Depreciation and impairment
At 1 July 2023
11,350
14,541
61,056
86,947
Depreciation charged in the year
12,673
14,820
16,206
43,699
At 30 June 2024
24,023
29,361
77,262
130,646
Carrying amount
At 30 June 2024
39,420
55,514
48,618
143,552
At 30 June 2023
41,578
48,804
64,824
155,206
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
93,614
125,614
Movements in fixed asset investments
Investments
Other investments
Total
£
£
£
Cost or valuation
At 1 July 2023
112,726
12,888
125,614
Additions
30,000
-
30,000
Disposals
(50,000)
(12,000)
(62,000)
At 30 June 2024
92,726
888
93,614
Carrying amount
At 30 June 2024
92,726
888
93,614
At 30 June 2023
112,726
12,888
125,614
TILBURY SOLUTIONS LTD
(FORMERLY TILBURY MULTI-MEDIA LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
54,372
72,609
Other debtors
57,551
5,987
111,923
78,596
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
8,424
58,424
Taxation and social security
163,551
57,982
Other creditors
5,965
27,182
177,940
143,588
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4
4
4
4
9
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
784
14,639
162
15,585
784
14,639
162
15,585