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Registered number: 08045955
Titians A M Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Phelan Cloud Accounting
Chartered Certified Accountants
8A Basepoint Business Centre
Waterberry Drive
Waterlooville
Hampshire
PO7 7TH
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 08045955
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 785 1,547
785 1,547
CURRENT ASSETS
Debtors 6 - 15,610
Cash at bank and in hand 46,931 58,721
46,931 74,331
Creditors: Amounts Falling Due Within One Year 7 (19,858 ) (36,158 )
NET CURRENT ASSETS (LIABILITIES) 27,073 38,173
TOTAL ASSETS LESS CURRENT LIABILITIES 27,858 39,720
NET ASSETS 27,858 39,720
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 27,758 39,620
SHAREHOLDERS' FUNDS 27,858 39,720
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms A Meadows
Director
4 September 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Titians A M Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08045955 . The registered office is 8A Basepoint Business Centre, Waterberry Drive, Waterlooville, Hampshire, PO7 7TH.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 10,600
As at 31 December 2024 10,600
Amortisation
As at 1 January 2024 10,600
As at 31 December 2024 10,600
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2024 4,270
As at 31 December 2024 4,270
Depreciation
As at 1 January 2024 2,723
Provided during the period 762
As at 31 December 2024 3,485
Net Book Value
As at 31 December 2024 785
As at 1 January 2024 1,547
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 13,948
Other debtors - 1,662
- 15,610
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 186 -
Other creditors 19,073 35,570
Taxation and social security 599 588
19,858 36,158
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Page 4
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4