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REGISTERED NUMBER: 04516906 (England and Wales)















T & S ASSOCIATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T & S ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mrs S Welsh
A Welsh





SECRETARY: Mrs S Welsh





REGISTERED OFFICE: The Workshop,
Suite 5 Cherrytree Offices
Union Road
Sheffield
South Yorkshire
S11 9EF





REGISTERED NUMBER: 04516906 (England and Wales)





ACCOUNTANTS: Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF

T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 6,400 7,200
Tangible assets 5 564,626 502,875
571,026 510,075

CURRENT ASSETS
Stocks 12,612 7,899
Debtors 6 388,625 364,275
Cash at bank and in hand 871,107 635,310
1,272,344 1,007,484
CREDITORS
Amounts falling due within one year 7 1,006,244 853,095
NET CURRENT ASSETS 266,100 154,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

837,126

664,464

CREDITORS
Amounts falling due after more than one
year

8

(84,441

)

(64,289

)

PROVISIONS FOR LIABILITIES (86,488 ) (69,850 )
NET ASSETS 666,197 530,325

CAPITAL AND RESERVES
Called up share capital 10 102 102
Retained earnings 666,095 530,223
SHAREHOLDERS' FUNDS 666,197 530,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

BALANCE SHEET - continued
31 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2025 and were signed on its behalf by:





Mrs S Welsh - Director


T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

T & S Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.Turnover arising from the sale of goods is recognised on delivery and turnover arising from rentals is recognised on a straight line basis over the term of the contract.

Intangible assets
The intangible asset is a franchise fee and is amortised evenly over its estimated useful life of 10 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Straight line over 42 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 8,000
AMORTISATION
At 1 September 2023 800
Charge for year 800
At 31 August 2024 1,600
NET BOOK VALUE
At 31 August 2024 6,400
At 31 August 2023 7,200

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 247,000 728,714 13,417 190,217 1,179,348
Additions - 125,376 727 71,224 197,327
Disposals - - - (25,565 ) (25,565 )
At 31 August 2024 247,000 854,090 14,144 235,876 1,351,110
DEPRECIATION
At 1 September 2023 22,446 546,575 8,103 99,349 676,473
Charge for year 5,881 76,878 1,510 39,324 123,593
Eliminated on disposal - - - (13,582 ) (13,582 )
At 31 August 2024 28,327 623,453 9,613 125,091 786,484
NET BOOK VALUE
At 31 August 2024 218,673 230,637 4,531 110,785 564,626
At 31 August 2023 224,554 182,139 5,314 90,868 502,875

T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 114,475
Additions 71,224
Disposals (25,565 )
At 31 August 2024 160,134
DEPRECIATION
At 1 September 2023 33,409
Charge for year 36,877
Eliminated on disposal (13,582 )
At 31 August 2024 56,704
NET BOOK VALUE
At 31 August 2024 103,430
At 31 August 2023 81,066

The HP agreements are secured on the assets financed

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 363,680 336,106
Other debtors 24,945 28,169
388,625 364,275

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 9) 43,052 31,696
Trade creditors 391,965 321,592
Taxation and social security 59,224 16,559
VAT 36,992 37,926
Other creditors 764 755
Directors' current accounts 10,384 7,160
Accruals and deferred income 328,993 284,132
Accrued expenses 134,870 153,275
1,006,244 853,095

T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 9) 84,441 64,289

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 43,052 31,696
Between one and five years 84,441 64,289
127,493 95,985

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year - 8,144

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary B 1 100 100
2 Ordinary 1 2 2
102 102

T & S ASSOCIATES LIMITED (REGISTERED NUMBER: 04516906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
A Welsh
Balance outstanding at start of year - -
Amounts advanced 6,888 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,888 -

As at 31 August 2024, there was an overdrawn balance on Mr A Welsh's directors loan account of £6,668 (2023: £nil).

No interest has been charged on this balance