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Company registration number:
06746037
TTP Business Services Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2024
TTP Business Services Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of TTP Business Services Ltd
Year ended
31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
TTP Business Services Ltd
for the year ended
31 March 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
TTP Business Services Ltd
, as a body, in accordance with the terms of our engagement letter dated 31 December 2019. Our work has been undertaken solely to prepare for your approval the
financial statements
of
TTP Business Services Ltd
and state those matters that we have agreed to state to the Board of Directors of
TTP Business Services Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
TTP Business Services Ltd
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
TTP Business Services Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
TTP Business Services Ltd
. You consider that
TTP Business Services Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of TTP Business Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Binks Chartered Accountants
84 Manor Road
Lancing
West Sussex
BN15 0HD
United Kingdom
Date:
27 June 2025
TTP Business Services Ltd
Statement of Financial Position
31 March 2024
20242023
Note££
Fixed assets    
Tangible assets 6
117,294
 
117,393
 
Current assets    
Debtors 7
251,721
 
140,986
 
Cash at bank and in hand
2,032
 
4,842
 
253,753
 
145,828
 
Creditors: amounts falling due within one year 8
(190,973
)
(130,414
)
Net current assets
62,780
 
15,414
 
Total assets less current liabilities 180,074   132,807  
Creditors: amounts falling due after more than one year 9
(118,149
)
(48,719
)
Net assets
61,925
 
84,088
 
Capital and reserves    
Called up share capital
20
 
20
 
Revaluation reserve
55,000
 
55,000
 
Profit and loss account
6,905
 
29,068
 
Shareholders funds
61,925
 
84,088
 
For the year ending
31 March 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
27 June 2025
, and are signed on behalf of the board by:
Mr P Binks
Director
Company registration number:
06746037
TTP Business Services Ltd
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
84 Manor Road
,
Lancing
,
West Sussex
,
BN15 0HD
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Current 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.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% reducing balance
Fixtures, fittings and equipment
25% reducing balance

Impairment

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.

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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

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.

4 Average number of employees

The average number of persons employed by the company during the year was
5
(2023:
5.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 April 2023
and
31 March 2024
19,500
 
Amortisation  
At
1 April 2023
and
31 March 2024
19,500
 
Carrying amount  
At
31 March 2024
-  
At 31 March 2023 -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2023
115,000
 
17,215
 
132,215
 
Additions -  
666
 
666
 
At
31 March 2024
115,000
 
17,881
 
132,881
 
Depreciation      
At
1 April 2023
-  
14,822
 
14,822
 
Charge -  
765
 
765
 
At
31 March 2024
-  
15,587
 
15,587
 
Carrying amount      
At
31 March 2024
115,000
 
2,294
 
117,294
 
At 31 March 2023
115,000
 
2,393
 
117,393
 

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
Land and buildingsLand and buildings
20242023
££
Aggregate historical cost 60,000   60,000  
Carrying amount 60,000   60,000  

7 Debtors

20242023
££
Trade debtors
20,066
 
37,617
 
Other debtors
231,655
 
103,369
 
251,721
 
140,986
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
11,237
 
16,974
 
Taxation and social security
128,980
 
102,758
 
Other creditors
50,756
 
10,682
 
190,973
 
130,414
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
37,500
 
48,719
 
Other creditors
80,649
  -  
118,149
 
48,719
 

10 Director's advances, credit and guarantees

During the year Mr P Binks, a director of the company, repaid advances previously made by the company amounting to £99,268.
During the year the company made further advances totalling £110,000 to Mr P Binks. The advances were made for a fixed period and are repayable on demand. Interest is chargeable at the HMRC official rate. The amount owed to the company by Mr P Binks at the year end was £110,000 (the amount owed to the company at 31st March 2023 was £99,268).