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TRUE DISTRIBUTION LIMITED

Registered Number
08162493
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

TRUE DISTRIBUTION LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

GROOMS, Russell

Registered Address

84a Woodrow House Warren Road
Brighton
BN2 6BA

Registered Number

08162493 (England and Wales)
TRUE DISTRIBUTION LIMITED
Statement of Financial Position
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets314,72316,904
14,72316,904
Current assets
Stocks425,40340,153
Debtors15,1937,407
Cash at bank and on hand113,86268,989
154,458116,549
Creditors amounts falling due within one year5(27,028)(16,685)
Net current assets (liabilities)127,43099,864
Total assets less current liabilities142,153116,768
Creditors amounts falling due after one year6-(14,335)
Provisions for liabilities7(3,682)(3,550)
Net assets138,47198,883
Capital and reserves
Called up share capital100100
Profit and loss account138,37198,783
Shareholders' funds138,47198,883
The financial statements were approved and authorised for issue by the Director on 23 April 2025, and are signed on its behalf by:
GROOMS, Russell
Director
Registered Company No. 08162493
TRUE DISTRIBUTION LIMITED
Notes to the Financial Statements
for the year ended 31 July 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
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.
Interest income
Interest income is recognised using the effective interest rate method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at the lower of cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-3
Fixtures and fittings20-
Office Equipment-3
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 August 237,18931,7761,23740,202
Additions3679236891,979
Disposals(3,012)(750)-(3,762)
At 31 July 244,54431,9491,92638,419
Depreciation and impairment
At 01 August 232,96120,15118623,298
Charge for year2,483--2,483
On disposals(1,864)(220)-(2,084)
Other adjustments(1)--(1)
At 31 July 243,57919,93118623,696
Net book value
At 31 July 2496512,0181,74014,723
At 31 July 234,22811,6251,05116,904
4.Stocks

2024

2023

££
Other stocks25,40340,153
Total25,40340,153
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,001-
Taxation and social security23,85716,685
Accrued liabilities and deferred income170-
Total27,02816,685
6.Creditors: amounts due after one year

2024

2023

££
Other creditors-14,335
Total-14,335
During the year the company repaid the £14,335 director loan in full. No amount is owing at the current balance sheet date. Last year, the amount was included within other creditors, amounts falling due after more than one year. No interest was payable on the unsecured loan advance.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,6823,550
Total3,6823,550
8.Events after reporting date
The company changed the Registered office address on 24 March 2025 to 35 Greenbank Avenue, Saltdean, Brighton BN2 8QS.
9.Related party transactions
The company repaid the £14,335 director's loan during the year in full. The amount was included within other creditors, amounts falling due after more than one year. No interest was payable on the unsecured loan advance.