2 01/11/2023 31/10/2024 2024-10-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-11-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 06715578 2023-11-01 2024-10-31 06715578 2024-10-31 06715578 2023-10-31 06715578 2022-11-01 2023-10-31 06715578 2023-10-31 06715578 2022-10-31 06715578 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 06715578 core:MotorVehicles 2023-11-01 2024-10-31 06715578 bus:RegisteredOffice 2023-11-01 2024-10-31 06715578 bus:LeadAgentIfApplicable 2023-11-01 2024-10-31 06715578 bus:Director1 2023-11-01 2024-10-31 06715578 bus:Director2 2023-11-01 2024-10-31 06715578 core:FurnitureFittingsToolsEquipment 2023-10-31 06715578 core:MotorVehicles 2023-10-31 06715578 core:FurnitureFittingsToolsEquipment 2024-10-31 06715578 core:MotorVehicles 2024-10-31 06715578 core:WithinOneYear 2024-10-31 06715578 core:WithinOneYear 2023-10-31 06715578 core:ShareCapital 2024-10-31 06715578 core:ShareCapital 2023-10-31 06715578 core:RetainedEarningsAccumulatedLosses 2024-10-31 06715578 core:RetainedEarningsAccumulatedLosses 2023-10-31 06715578 core:FurnitureFittingsToolsEquipment 2023-10-31 06715578 core:MotorVehicles 2023-10-31 06715578 bus:Director1 2023-10-31 06715578 bus:Director1 2024-10-31 06715578 bus:Director2 2023-10-31 06715578 bus:Director2 2024-10-31 06715578 bus:Director1 2022-10-31 06715578 bus:Director1 2023-10-31 06715578 bus:Director2 2022-10-31 06715578 bus:Director2 2023-10-31 06715578 bus:Director1 2022-11-01 2023-10-31 06715578 bus:Director2 2022-11-01 2023-10-31 06715578 bus:SmallEntities 2023-11-01 2024-10-31 06715578 bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 06715578 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 06715578 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 06715578 bus:FullAccounts 2023-11-01 2024-10-31
Company registration number: 06715578
Truefix Solutions Ltd
Unaudited filleted financial statements
31 October 2024
Truefix Solutions Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Truefix Solutions Ltd
Directors and other information
Directors Mr S Thackrah
Mr K Tudor
Company number 06715578
Registered office 27 Margaret Street
Outwood
Wakefield
West Yorkshire
WF1 2NJ
Accountants Streets Andrew Wright
10 Cliff Parade
Wakefield
West Yorkshire
WF1 2TA
Truefix Solutions Ltd
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 242,943 124,630
_______ _______
242,943 124,630
Current assets
Debtors 6 699,748 1,056,818
Cash at bank and in hand 939,215 1,344,973
_______ _______
1,638,963 2,401,791
Creditors: amounts falling due
within one year 7 ( 395,031) ( 853,322)
_______ _______
Net current assets 1,243,932 1,548,469
_______ _______
Total assets less current liabilities 1,486,875 1,673,099
_______ _______
Net assets 1,486,875 1,673,099
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,486,775 1,672,999
_______ _______
Shareholders funds 1,486,875 1,673,099
_______ _______
For the year ending 31 October 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.
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.
These financial statements were approved by the board of directors and authorised for issue on 30 May 2025 , and are signed on behalf of the board by:
Mr S Thackrah
Director
Company registration number: 06715578
Truefix Solutions Ltd
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 27 Margaret Street, Outwood, Wakefield, West Yorkshire, WF1 2NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in 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 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Debt instruments are subsequently measured at amortised cost.
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 in finance costs 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 2 (2023: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2023 21,930 155,952 177,882
Additions - 131,500 131,500
_______ _______ _______
At 31 October 2024 21,930 287,452 309,382
_______ _______ _______
Depreciation
At 1 November 2023 14,683 38,569 53,252
Charge for the year 1,812 11,375 13,187
_______ _______ _______
At 31 October 2024 16,495 49,944 66,439
_______ _______ _______
Carrying amount
At 31 October 2024 5,435 237,508 242,943
_______ _______ _______
At 31 October 2023 7,247 117,383 124,630
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 682,342 1,052,113
Other debtors 17,406 4,705
_______ _______
699,748 1,056,818
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 94,250 130,062
Corporation tax 49,606 386,633
Social security and other taxes 118,623 256,915
Other creditors 132,552 79,712
_______ _______
395,031 853,322
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr S Thackrah ( 2,447) - 1,693 ( 754)
Mr K Tudor ( 2,447) - 1,693 ( 754)
_______ _______ _______ _______
( 4,894) - 3,386 ( 1,508)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr S Thackrah ( 6,928) 4,481 - ( 2,447)
Mr K Tudor ( 6,927) 4,480 - ( 2,447)
_______ _______ _______ _______
( 13,855) 8,961 - ( 4,894)
_______ _______ _______ _______