Company registration number 06748596 (England and Wales)
TOTAL PROTECTIVE SOLUTIONS 360 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TOTAL PROTECTIVE SOLUTIONS 360 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
TOTAL PROTECTIVE SOLUTIONS 360 LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
376,556
288,489
Investments
4
11
11
376,567
288,500
Current assets
Stocks
197,769
278,496
Debtors
6
1,082,164
903,808
Cash at bank and in hand
485,763
304,566
1,765,696
1,486,870
Creditors: amounts falling due within one year
7
(1,085,292)
(800,898)
Net current assets
680,404
685,972
Total assets less current liabilities
1,056,971
974,472
Creditors: amounts falling due after more than one year
8
(87,789)
(103,708)
Provisions for liabilities
(77,437)
(61,785)
Net assets
891,745
808,979
Capital and reserves
Called up share capital
9
123
123
Capital redemption reserve
147
147
Profit and loss reserves
891,475
808,709
Total equity
891,745
808,979

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 May 2025 and are signed on its behalf by:
Mr D  Watkins
Director
Company registration number 06748596 (England and Wales)
TOTAL PROTECTIVE SOLUTIONS 360 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
1
Accounting policies
Company information

Total Protective Solutions 360 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit E, 26 Sir Alfred Owen Way, Pontygwindy Industrial Estate, Caerphilly, CF83 3HU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
0%
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

TOTAL PROTECTIVE SOLUTIONS 360 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

TOTAL PROTECTIVE SOLUTIONS 360 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
37
33
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
27,822
471,920
77,204
175,248
752,194
Additions
11,565
56,946
37,955
94,528
200,994
Disposals
-
0
(57,500)
-
0
(15,000)
(72,500)
At 30 November 2024
39,387
471,366
115,159
254,776
880,688
Depreciation and impairment
At 1 December 2023
-
0
345,759
50,194
67,752
463,705
Depreciation charged in the year
-
0
29,740
10,098
34,890
74,728
Eliminated in respect of disposals
-
0
(24,482)
-
0
(9,819)
(34,301)
At 30 November 2024
-
0
351,017
60,292
92,823
504,132
Carrying amount
At 30 November 2024
39,387
120,349
54,867
161,953
376,556
At 30 November 2023
27,822
126,161
27,010
107,496
288,489
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
11
11
TOTAL PROTECTIVE SOLUTIONS 360 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
5
Financial instruments
2024
2023
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
11
11
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
530,833
673,434
Amounts owed by group undertakings
179,025
-
0
Other debtors
372,306
230,374
1,082,164
903,808
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
21,010
20,000
Trade creditors
447,622
390,567
Corporation tax
109,169
30,728
Other taxation and social security
317,476
86,864
Other creditors
190,015
272,739
1,085,292
800,898
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,509
31,667
Other creditors
75,280
72,041
87,789
103,708

The loans are secured over the assets to which the hire purchases relate.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
-
11,667
TOTAL PROTECTIVE SOLUTIONS 360 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
12,300
12,300
123
123
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
464,083
61,500
11
Directors' transactions

Dividends totalling £93,940 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

12
Parent company

TPS 360 Holdings Ltd own 100% of the ordinary shares and total voting rights in Total Protective Solutions 360 Limited.

 

The registered office of TPS 360 Holdings Ltd is Unit E, 26 Sir Alfred Owen Way, Pontygwindy Industrial Estate, Caerphilly, CF83 3HU.

 

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