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Registration number: 09635382

Tailored Construction (Cheltenham) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Tailored Construction (Cheltenham) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Tailored Construction (Cheltenham) Ltd

Company Information

Director

Mr S Bartlett

Registered office

The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

Tailored Construction (Cheltenham) Ltd

(Registration number: 09635382)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,587

4,221

Current assets

 

Debtors

5

31,967

26,797

Cash at bank and in hand

 

9,543

13,748

 

41,510

40,545

Creditors: Amounts falling due within one year

6

(39,635)

(36,046)

Net current assets

 

1,875

4,499

Total assets less current liabilities

 

5,462

8,720

Creditors: Amounts falling due after more than one year

6

(4,804)

(9,938)

Net assets/(liabilities)

 

658

(1,218)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

648

(1,228)

Shareholders' funds/(deficit)

 

658

(1,218)

 

Tailored Construction (Cheltenham) Ltd

(Registration number: 09635382)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 March 2025
 

.........................................
Mr S Bartlett
Director

 

Tailored Construction (Cheltenham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT
England

These financial statements were authorised for issue by the director on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of these financial statements is pound sterling and rounded to the nearest whole number.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Tailored Construction (Cheltenham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

15% Reducing Balance

Motor Vehicles

20% Straight Line

Fixtures & Fittings

15% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Tailored Construction (Cheltenham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Tailored Construction (Cheltenham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

6,685

524

7,209

At 30 June 2024

6,685

524

7,209

Depreciation

At 1 July 2023

2,829

159

2,988

Charge for the year

579

55

634

At 30 June 2024

3,408

214

3,622

Carrying amount

At 30 June 2024

3,277

310

3,587

At 30 June 2023

3,856

365

4,221

5

Debtors

Current

2024
£

2023
£

Prepayments

209

-

Other debtors

31,758

26,797

 

31,967

26,797

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

5,134

5,007

Taxation and social security

 

32,657

28,947

Accruals and deferred income

 

1,844

2,092

 

39,635

36,046

 

Tailored Construction (Cheltenham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

4,804

9,938

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,804

9,938

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,134

5,007

Bank borrowings

Bounceback Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 31 May 2026. The carrying amount at year end is £9,938 (2023 - £14,945).

Due Less than 1 Year - £5,134
Due 1-2 Years - £4,804

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

5,665

5,665

Later than one year and not later than five years

9,441

15,106

15,106

20,771

The amount of non-cancellable operating lease payments recognised as an expense during the year was £9,318 (2023 - £1,975).

 

Tailored Construction (Cheltenham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mr S Bartlett

Net Transactions

(7,047)

(86,881)

78,102

(15,827)

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr S Bartlett

Net Transactions

(19,375)

(77,447)

89,775

(7,047)

Interest on the directors loan accounts has been charged at HMRC standard rate.