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TSN (NORTHEAST) LIMITED

Registered Number
14153921
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

TSN (NORTHEAST) LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

MASOOD, Tariq

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

14153921 (England and Wales)
TSN (NORTHEAST) LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks31,9313,281
Debtors4134,79286,613
Cash at bank and on hand11,60312,291
148,326102,185
Creditors amounts falling due within one year5(96,572)(91,101)
Net current assets (liabilities)51,75411,084
Total assets less current liabilities51,75411,084
Net assets51,75411,084
Capital and reserves
Called up share capital100100
Profit and loss account51,65410,984
Shareholders' funds51,75411,084
The financial statements were approved and authorised for issue by the Director on 27 May 2025, and are signed on its behalf by:
MASOOD, Tariq
Director
Registered Company No. 14153921
TSN (NORTHEAST) LIMITED
Notes to the Financial Statements
for the year ended 31 August 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
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Stocks and work in progress
Stocks 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 year159
3.Stocks

2024

2023

££
Raw materials and consumables1,9313,281
Total1,9313,281
4.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings130,54867,059
Other debtors-13,767
Prepayments and accrued income4,2445,787
Total134,79286,613
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables30,52431,343
Amounts owed to related parties29,66315,600
Taxation and social security12,28722,062
Other creditors21,76416,975
Accrued liabilities and deferred income2,3345,121
Total96,57291,101
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Related party transactions
At the year-end, Amount owed by/to group undertaking balances include £8,193 (2023 :£7,131) due to ATM (North East) Ltd and £21,469 (2023: £8,469) due to KTM (North East) Ltd and £8,100 (2023: £8,100) due from TM (Holdings) Ltd and £118,448 (2023: £48,959) due from SBM (Northern) Ltd and £4,000 (2023: £10,000) due from KATS (Stockton) Ltd, where Mr T Masood is also director of those companies. Included in other debtors is an amount of £7,347 (2023: £13,767) which relates to Lounge (MBR) Limited, where Mr. T Masood is also director and shareholder of the company.