Registered number
07482368
TIDE ACCOUNTING LIMITED
Filleted Accounts
31 December 2024
TIDE ACCOUNTING LIMITED
Registered number: 07482368
Balance Sheet
as at 31 December 2024
2024 2023
£ £
Fixed assets
Tangible assets 78,019 82,393
Current assets
Work in progress 86,258 50,000
Debtors 161,571 118,830
247,829 168,830
Creditors: amounts falling due within one year (133,311) (102,900)
Net current assets 114,518 65,930
Total assets less current liabilities 192,537 148,323
Creditors: amounts falling due after more than one year (187,199) (143,814)
Net assets 5,338 4,509
Capital and reserves
Called up share capital 1 1
Profit and loss account 5,337 4,508
Shareholders' funds 5,338 4,509
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. Hague
Director
Approved by the board on 26 March 2025
TIDE ACCOUNTING LIMITED
Notes to the Accounts
for the year ended 31 December 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 25% reducing balance
Work in progress
Work in progress is 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 22,767 74,498 97,265
Additions 3,865 - 3,865
At 31 December 2024 26,632 74,498 101,130
Depreciation
At 1 January 2024 7,422 7,450 14,872
Charge for the year 1,534 6,705 8,239
At 31 December 2024 8,956 14,155 23,111
Net book value
At 31 December 2024 17,676 60,343 78,019
At 31 December 2023 15,345 67,048 82,393
4 Debtors 2024 2023
£ £
Trade debtors 37,670 49,160
Amounts owed by group undertakings and undertakings in which the company has a participating interest 123,901 69,670
161,571 118,830
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 22,188 22,664
Obligations under finance lease and hire purchase contracts 42,831 49,974
Trade creditors 2,490 6,315
Directors loan account - (14,544)
Corporation tax 35,049 17,565
Value Added Tax 30,375 17,969
Other creditors 378 2,957
133,311 102,900
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 187,199 143,814
7 Other information
TIDE ACCOUNTING LIMITED is a private company limited by shares and incorporated in England.
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