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Registered Number: 02375226
England and Wales

 

 

 

TIRSUL LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 501,892    517,348 
501,892    517,348 
Current assets      
Debtors 4 2,155,025    2,267,478 
Cash at bank and in hand 78,236    117,939 
2,233,261    2,385,417 
Creditors: amount falling due within one year 5 (1,298,470)   (1,238,775)
Net current assets 934,791    1,146,642 
 
Total assets less current liabilities 1,436,683    1,663,990 
Provisions for liabilities 6 (1,304)   (1,530)
Net assets 1,435,379    1,662,460 
 

Capital and reserves 		     
Called up share capital 1,200    1,200 
Profit and loss account 1,434,179    1,661,260 
Shareholders' funds 1,435,379    1,662,460 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 September 2025 and were signed on its behalf by:


-------------------------------
Rajesh Malhotra
Director
1
General Information
Tirsul Limited is a private company, limited by shares, registered in England and Wales, registration number 02375226, registration address 91-95 Blandford Street, Newcastle upon Tyne, NE1 3PZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the going concern and the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
As with most businesses the company has been impacted by the Coronavirus (Covid-19). This has had an impact on operations, customers, suppliers and staff. The Company has utilised the grants and benefits available from the Government and is taking the steps it can to protect the future of the business. Although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Straight Line
Plant and Machinery 15% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 38 (2023 : 35).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 January 2024 720,836    123,772    844,608 
Additions -    -    - 
Disposals -    -    - 
At 31 December 2024 720,836    123,772    844,608 
Depreciation
At 01 January 2024 211,732    115,528    327,260 
Charge for year 14,219    1,237    15,456 
On disposals -    -    - 
At 31 December 2024 225,951    116,765    342,716 
Net book values
Closing balance as at 31 December 2024 494,885    7,007    501,892 
Opening balance as at 01 January 2024 509,104    8,244    517,348 


4.

Debtors: amounts falling due within one year

2024
£		   2023
£
Amount Owed by Group Undertakings 2,137,054    2,264,438 
Prepayments & Accrued Income 0    3,040 
Corporation Tax 17,971    0 
2,155,025    2,267,478 

5.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 69,276    45,530 
Corporation Tax 0    5,473 
PAYE & Social Security 18,274    931 
Accrued Expenses 366,175    336,537 
Other Creditors 21,876    21,876 
Pension Control Account 15,993    1,421 
Directors' Current Accounts 806,876    827,007 
1,298,470    1,238,775 

6.

Provisions for liabilities

2024
£		   2023
£
Deferred tax - brought forward 1,530    1,795 
Deferred tax - charged against provision (226)   (265)
1,304    1,530 

7.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Directors of £806,876 (2023 - £827,007)
2