General Information
Tila London Limited is a private company, limited by shares, registered in England and Wales, registration number 12810382, registration address 27 Bruton Place, London England, W1J 6NQ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 |
5% Straight Line |
| Plant and Machinery |
20% Straight Line
|
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 32 (2023 : 13).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 January 2024 |
7,064,908 |
|
1,985,776 |
|
9,050,684 |
| Additions |
33,782 |
|
28,349 |
|
62,131 |
| Disposals |
- |
|
- |
|
- |
| At 31 December 2024 |
7,098,690 |
|
2,014,125 |
|
9,112,815 |
| Depreciation |
| At 01 January 2024 |
530,662 |
|
197,175 |
|
727,837 |
| Charge for year |
353,246 |
|
393,181 |
|
746,427 |
| On disposals |
- |
|
- |
|
- |
| At 31 December 2024 |
883,908 |
|
590,356 |
|
1,474,264 |
| Net book values |
| Closing balance as at 31 December 2024 |
6,214,782 |
|
1,423,769 |
|
7,638,551 |
| Opening balance as at 01 January 2024 |
6,534,246 |
|
1,710,777 |
|
8,245,023 |
|
| 4. |
Investments
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 January 2024 |
2 |
|
2 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 December 2024 |
2 |
|
2 |
|
| 5. |
Stocks
|
2024
£ |
|
2023
£ |
| Finished Goods |
45,698 |
|
0 |
|
45,698 |
|
0 |
|
| 6. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Debtors |
26,656 |
|
0 |
| Amount Owed by Group Undertakings |
513,667 |
|
227,886 |
| Other Debtors |
299,683 |
|
682,987 |
|
840,006 |
|
910,873 |
|
| 7. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Creditors |
659,873 |
|
1,623,211 |
| PAYE,VAT & Social Security |
64,217 |
|
18,364 |
| Other Creditors |
221,316 |
|
51,744 |
|
945,406 |
|
1,693,319 |
|
| 8. |
Creditors: amount falling due after more than one year
|
2024
£ |
|
2023
£ |
| Other Creditors |
7,150,440 |
|
4,968,136 |
|
7,150,440 |
|
4,968,136 |
|
| 9. |
Share premium account
|
2024
£ |
|
2023
£ |
| Equity Share Premium b/fwd |
4,999,999 |
|
2,999,999 |
| Equity Share Premium - New Issue |
0 |
|
2,000,000 |
|
4,999,999 |
|
4,999,999 |
|
| 10. |
Related party transactions
At the year end the company owed £159,455 (2023- £42454 was owed by) to directors of the, in respect of a interest free loan repayable on demand.
|
2
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