REGISTERED NUMBER: 13025764 (England and Wales)

TFSLET LIMITED

T/A

GROUND BAKERY

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs E S Davies

Mr T F Simmons

Mrs L E Thomas

REGISTERED OFFICE:

Ground Bakery - 15 Pontcanna Street

Cardiff

CF11 9HQ

REGISTERED NUMBER:

13025764 (England and Wales)

ACCOUNTANTS:

Carston ETL

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Tangible assets

4

620,765

491,151

CURRENT ASSETS

Stocks

24,168

20,685

Debtors

5

60,397

48,367

Cash at bank and in hand

15,708

17,540

100,273

86,592

CREDITORS

Amounts falling due within one year

6

365,620

303,211

NET CURRENT LIABILITIES

(265,347

)

(216,619

)

TOTAL ASSETS LESS CURRENT LIABILITIES

355,418

274,532

CREDITORS

Amounts falling due after more than one year

7

623,242

522,007

NET LIABILITIES

(267,824

)

(247,475

)

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Share premium

119,400

119,400

Retained earnings

(388,424

)

(368,075

)

SHAREHOLDERS' FUNDS

(267,824

)

(247,475

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

Mr T F Simmons - Director

1.	STATUTORY INFORMATION

Tfslet Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Straight line over 10 years

Plant and machinery

-

Straight line over 10 years

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 Statement of Income and Retained Earnings, 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 balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2023 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

117,447

492,286

-

609,733

Additions

-

169,786

30,516

200,302

At 31 December 2024

117,447

662,072

30,516

810,035

DEPRECIATION

At 1 January 2024

22,256

96,326

-

118,582

Charge for year

11,745

58,943

-

70,688

At 31 December 2024

34,001

155,269

-

189,270

NET BOOK VALUE

At 31 December 2024

83,446

506,803

30,516

620,765

At 31 December 2023

95,191

395,960

-

491,151

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

26,294

7,742

Other debtors

34,103

40,625

60,397

48,367

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

33,599

22,430

Hire purchase contracts

33,948

39,177

Trade creditors

146,656

137,918

Taxation and social security

62,076

65,156

Other creditors

89,341

38,530

365,620

303,211

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

232,889

170,389

Hire purchase contracts

38,675

39,080

Other creditors

351,678

312,538

623,242

522,007

DBW Investments Limited has a fixed and floating charge which covers all property and undertaking of the company, and contains a negative pledge.

Included within other creditors are assets held under hire purchase contracts which are secured over the assets to which they relate.

8.	RELATED PARTY DISCLOSURES

At the end of the year the company owed £121,006 (2023: £107,483) to two companies in which the directors have a significant interest.