2023-11-012024-10-312024-10-31false14439520TELFORD BARS 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TELFORD BARS LTD

Registered Number
14439520
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

TELFORD BARS LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

DAVIES, Paul Julian

Registered Address

102 Haybridge Avenue
Hadley
Telford
TF1 5JS

Registered Number

14439520 (England and Wales)
TELFORD BARS LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3900900
Tangible assets43,173975
4,0731,875
Current assets
Stocks53,9423,921
Debtors1,6344
Cash at bank and on hand9,1228,583
14,69812,508
Creditors amounts falling due within one year6(1,796)(4,869)
Net current assets (liabilities)12,9027,639
Total assets less current liabilities16,9759,514
Provisions for liabilities7(138)(185)
Net assets16,8379,329
Capital and reserves
Called up share capital11
Profit and loss account16,8369,328
Shareholders' funds16,8379,329
The financial statements were approved and authorised for issue by the Director on 8 April 2025, and are signed on its behalf by:
DAVIES, Paul Julian
Director
Registered Company No. 14439520
TELFORD BARS LTD
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 November 231,2001,200
At 31 October 241,2001,200
Amortisation and impairment
At 01 November 23300300
At 31 October 24300300
Net book value
At 31 October 24900900
At 31 October 23900900
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 November 231,3001,300
Additions2,5002,500
At 31 October 243,8003,800
Depreciation and impairment
At 01 November 23325325
Charge for year302302
At 31 October 24627627
Net book value
At 31 October 243,1733,173
At 31 October 23975975
5.Stocks

2024

2023

££
Other stocks3,9423,921
Total3,9423,921
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2344
Taxation and social security1,4942,542
Other creditors300482
Accrued liabilities and deferred income-1,501
Total1,7964,869
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)138185
Total138185