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Registration number: 04776491

Total Gaming Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 July 2024

 

Total Gaming Solutions Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Total Gaming Solutions Limited

(Registration number: 04776491)
Balance Sheet as at 30 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

728

1,019

Current assets

 

Debtors

5

63,580

78,209

Cash at bank and in hand

 

64,427

79,094

 

128,007

157,303

Creditors: Amounts falling due within one year

6

(482,007)

(507,784)

Net current liabilities

 

(354,000)

(350,481)

Total assets less current liabilities

 

(353,272)

(349,462)

Creditors: Amounts falling due after more than one year

6

(14,404)

(24,300)

Net liabilities

 

(367,676)

(373,762)

Capital and reserves

 

Called up share capital

7

766,655

766,655

Retained earnings

(1,134,331)

(1,140,417)

Shareholders' deficit

 

(367,676)

(373,762)

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 April 2025 and signed on its behalf by:
 

.........................................
N M Palich
Director

 

Total Gaming Solutions Limited

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

1

General information

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

The address of its registered office is:
Ribble Court
Mead Way
Padiham
Burnley
Lancashire
BB12 7NG

These financial statements were authorised for issue by the Board on 7 April 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.

Going concern

The financial statements have been prepared on a going concern basis due to the continued support of the shareholders.

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 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.

 

Total Gaming Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 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

Fixtures and fittings

20% on cost.

Computer equipment

33% 0n cost.

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.

 

Total Gaming Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Total Gaming Solutions Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 31 July 2023

7,808

7,808

At 30 July 2024

7,808

7,808

Depreciation

At 31 July 2023

6,789

6,789

Charge for the year

291

291

At 30 July 2024

7,080

7,080

Carrying amount

At 30 July 2024

728

728

At 30 July 2023

1,019

1,019

5

Debtors

2024
£

2023
£

Trade debtors

38,641

63,266

Other debtors

4,154

1,441

Prepayments

20,785

13,502

63,580

78,209

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

9,648

9,648

Trade creditors

 

2,179

-

Taxation and social security

 

7,681

12,574

Accruals and deferred income

 

462,482

485,544

Other creditors

 

17

18

 

482,007

507,784

 

Total Gaming Solutions Limited

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

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

14,404

24,300

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

766,655

766,655

766,655

766,655

       

8

Related party transactions

Transactions with directors

2024

At 31 July 2023
£

Advances to director
£

At 30 July 2024
£

B C Kilby

Directors loan account

-

2,918

2,918

9

Control

The ultimate controlling party is Mr B C Kilby.

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,404

24,300

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,648

9,648