| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2023 |
| for |
| TGS Products Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2023 |
| for |
| TGS Products Limited |
| TGS Products Limited (Registered number: 06525820) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| TGS Products Limited |
| Company Information |
| for the Year Ended 31 December 2023 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Reading Road |
| Pangbourne |
| Reading |
| Berkshire |
| RG8 7LY |
| TGS Products Limited (Registered number: 06525820) |
| Statement of Financial Position |
| 31 December 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| TGS Products Limited (Registered number: 06525820) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2023 |
| 1. | STATUTORY INFORMATION |
| TGS Products Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| TGS Products Limited (Registered number: 06525820) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | SECURED DEBTS |
| Praetura Invoice Finance Limited have a fixed and floating charge over all the property and undertakings of the Company together with a negative pledge. |
| 7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| As at 31 December 2023, R A Gidden, the director owed the company £210,561 (2022 : £67,162). During the year there were withdrawals totalling £143,876 and capital introduced totalling £477 This loan is interest free and repayable on demand. The maximum amount outstanding in the period was £210,561. |
| 8. | RELATED PARTY DISCLOSURES |
| As at 31 December 2023 the company was owed £32,335 (2022 ; £17,181 owed to Dynamo 44 Ltd) from Dynamo 44 Ltd, a company controlled by the Director R A Gidden. This loan is interest free and repayable on demand. |