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Tubado Ltd
Financial Statements
For The Year Ended 31 October 2024
Hampson and Co Accountants & Tax Consultants
42 Langford Drive
Pennington
Leigh
Lancs
WN7 3LE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09268021
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,120 17,220
14,120 17,220
CURRENT ASSETS
Debtors 5 1,542 1,487
Cash at bank and in hand 612 580
2,154 2,067
Creditors: Amounts Falling Due Within One Year 6 (139,598 ) (138,051 )
NET CURRENT ASSETS (LIABILITIES) (137,444 ) (135,984 )
TOTAL ASSETS LESS CURRENT LIABILITIES (123,324 ) (118,764 )
NET LIABILITIES (123,324 ) (118,764 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (123,326 ) (118,766 )
SHAREHOLDERS' FUNDS (123,324) (118,764)
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Naylor
Director
Mr Carl Naylor
Director
18th July 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tubado Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09268021 . The registered office is 5-6 Kemplay Foot, Eamont Bridge, Penrith, Cumbria, CA10 2BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18%
Motor Vehicles 18%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2023 28,736 36,339 65,075
As at 31 October 2024 28,736 36,339 65,075
Depreciation
As at 1 November 2023 21,796 26,059 47,855
Provided during the period 1,249 1,851 3,100
As at 31 October 2024 23,045 27,910 50,955
Net Book Value
As at 31 October 2024 5,691 8,429 14,120
As at 1 November 2023 6,940 10,280 17,220
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 506 506
Other debtors 1,036 981
1,542 1,487
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 748 -
Bank loans and overdrafts 1,362 2,427
Directors' loan accounts 137,488 135,624
139,598 138,051
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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