51 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 136,075 6 136,081 136,081 136,075 xbrli:pure xbrli:shares iso4217:GBP NI066167 2023-10-01 2024-09-30 NI066167 2024-09-30 NI066167 2023-09-30 NI066167 2022-10-01 2023-09-30 NI066167 2023-09-30 NI066167 2022-09-30 NI066167 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 NI066167 core:PlantMachinery 2023-10-01 2024-09-30 NI066167 core:FurnitureFittings 2023-10-01 2024-09-30 NI066167 core:MotorVehicles 2023-10-01 2024-09-30 NI066167 bus:Director2 2023-10-01 2024-09-30 NI066167 core:LandBuildings 2023-09-30 NI066167 core:PlantMachinery 2023-09-30 NI066167 core:FurnitureFittingsToolsEquipment 2023-09-30 NI066167 core:MotorVehicles 2023-09-30 NI066167 core:LandBuildings 2024-09-30 NI066167 core:PlantMachinery 2024-09-30 NI066167 core:FurnitureFittingsToolsEquipment 2024-09-30 NI066167 core:MotorVehicles 2024-09-30 NI066167 core:LandBuildings 2023-10-01 2024-09-30 NI066167 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 NI066167 core:WithinOneYear 2024-09-30 NI066167 core:WithinOneYear 2023-09-30 NI066167 core:AfterOneYear 2024-09-30 NI066167 core:LandBuildings 2023-09-30 NI066167 core:ShareCapital 2024-09-30 NI066167 core:ShareCapital 2023-09-30 NI066167 core:RevaluationReserve 2024-09-30 NI066167 core:RevaluationReserve 2023-09-30 NI066167 core:RetainedEarningsAccumulatedLosses 2024-09-30 NI066167 core:RetainedEarningsAccumulatedLosses 2023-09-30 NI066167 core:CostValuation core:Non-currentFinancialInstruments 2023-09-30 NI066167 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-09-30 NI066167 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 NI066167 core:Non-currentFinancialInstruments 2024-09-30 NI066167 core:Non-currentFinancialInstruments 2023-09-30 NI066167 core:PlantMachinery 2023-09-30 NI066167 core:FurnitureFittingsToolsEquipment 2023-09-30 NI066167 core:MotorVehicles 2023-09-30 NI066167 bus:SmallEntities 2023-10-01 2024-09-30 NI066167 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 NI066167 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI066167 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI066167 bus:FullAccounts 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: NI066167
Tenofthose Limited
Filleted Unaudited Financial Statements
30 September 2024
Tenofthose Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,530,088
946,236
Investments
6
136,081
136,075
------------
------------
1,666,169
1,082,311
Current assets
Stocks
525,439
454,485
Debtors
7
479,898
356,604
Cash at bank and in hand
196,311
395,421
------------
------------
1,201,648
1,206,510
Creditors: amounts falling due within one year
8
877,012
731,229
------------
------------
Net current assets
324,636
475,281
------------
------------
Total assets less current liabilities
1,990,805
1,557,592
Creditors: amounts falling due after more than one year
9
320,435
Provisions
Taxation including deferred tax
144,876
145,915
------------
------------
Net assets
1,525,494
1,411,677
------------
------------
Capital and reserves
Called up share capital
10,000
10,000
Revaluation reserve
443,431
434,737
Profit and loss account
1,072,063
966,940
------------
------------
Shareholders funds
1,525,494
1,411,677
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tenofthose Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 10 June 2025 , and are signed on behalf of the board by:
Mr J Carswell
Director
Company registration number: NI066167
Tenofthose Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Company Registration Agent, 6b Upper Water Street, Newry, County Down, Northern Ireland, BT34 1DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
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 is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may crystallise.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Plant & Machinery
-
25% reducing balance
Fixutures & Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 51 (2023: 37 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Investment property
Total
£
£
£
£
£
£
Cost
At 1 Oct 2023
900,000
5,815
66,221
79,308
875
1,052,219
Additions
3,272
35,680
584,211
623,163
Disposals
( 13,495)
( 13,495)
---------
-------
--------
---------
---------
------------
At 30 Sep 2024
900,000
5,815
69,493
101,493
585,086
1,661,887
---------
-------
--------
---------
---------
------------
Depreciation
At 1 Oct 2023
18,000
5,096
58,495
24,392
105,983
Charge for the year
18,000
108
2,512
12,075
32,695
Disposals
( 6,879)
( 6,879)
---------
-------
--------
---------
---------
------------
At 30 Sep 2024
36,000
5,204
61,007
29,588
131,799
---------
-------
--------
---------
---------
------------
Carrying amount
At 30 Sep 2024
864,000
611
8,486
71,905
585,086
1,530,088
---------
-------
--------
---------
---------
------------
At 30 Sep 2023
882,000
719
7,726
54,916
875
946,236
---------
-------
--------
---------
---------
------------
The director considers that the investment properties are disclosed at their fair value.
The freehold property was revalued in 2021 by a suitably qualified valuer at £900,000 on the basis of the market value and the director considers the amount disclosed in the accounts to be the fair value of the property.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Land and buildings
£
At 30 September 2024
Aggregate cost
440,338
Aggregate depreciation
(140,158)
---------
Carrying value
300,180
---------
At 30 September 2023
Aggregate cost
440,338
Aggregate depreciation
(131,351)
---------
Carrying value
308,987
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 October 2023
136,075
Additions
6
---------
At 30 September 2024
136,081
---------
Impairment
At 1 October 2023 and 30 September 2024
---------
Carrying amount
At 30 September 2024
136,081
---------
At 30 September 2023
136,075
---------
7. Debtors
2024
2023
£
£
Trade debtors
288,951
87,931
Amounts owed by group undertakings and undertakings in which the company has a participating interest
159,772
230,791
Other debtors
31,175
37,882
---------
---------
479,898
356,604
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,035
Trade creditors
368,431
278,150
Corporation tax
44,898
35,641
Social security and other taxes
15,099
15,877
Other creditors
432,549
401,561
---------
---------
877,012
731,229
---------
---------
Kingdom Bank Ltd hold a legal charge secured on 23 Eskin Street, Keswick, Cumbria, CA12 4DQ. The charge was registered on 13 October 2023 and is included within bank loans and overdrafts.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
320,435
---------
----
Included within creditors: amounts falling due after more than one year is an amount of £256,295 (2023: £Nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Kingdom Bank Ltd hold a legal charge secured on 23 Eskin Street, Keswick, Cumbria, CA12 4DQ. The charge was registered on 13 October 2023 and is included within bank loans and overdrafts.
10. Directors' advances, credits and guarantees
At the balance sheet date the directors were owed £237,752 (2023: £155,946) by the company.