REGISTERED NUMBER: SC257368 (Scotland)

TLS Joinery Ltd.

Financial Statements For The Year Ended 31 October 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T Smith

Mrs L Smith

SECRETARY:

Mrs L Smith

REGISTERED OFFICE:

15 Macpherson Street

Hopeman

Moray

IV30 5TG

REGISTERED NUMBER:

SC257368 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

Virgin Money

151 High Street

Elgin

Moray

IV30 IDS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

90,593

11,191

90,593

11,191

CURRENT ASSETS

Debtors

6

692,321

656,925

Cash at bank

11,823

23,753

704,144

680,678

CREDITORS

Amounts falling due within one year

7

98,606

86,627

NET CURRENT ASSETS

605,538

594,051

TOTAL ASSETS LESS CURRENT LIABILITIES

696,131

605,242

CREDITORS

Amounts falling due after more than one year

8

-

(2,917

)

PROVISIONS FOR LIABILITIES

9

(3,110

)

(2,678

)

NET ASSETS

693,021

599,647

CAPITAL AND RESERVES

Called up share capital

10

120

120

Retained earnings

11

692,901

599,527

SHAREHOLDERS' FUNDS

693,021

599,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2026 and were signed on its behalf by:

Mr T Smith - Director

1.	STATUTORY INFORMATION

TLS Joinery Ltd. is a private company, limited by shares , registered in Scotland. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

2,000

AMORTISATION

At 1 November 2024

and 31 October 2025

2,000

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

5.	TANGIBLE FIXED ASSETS

Motor

Computer

Equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2024

33,646

42,360

3,710

79,716

Additions

16,676

80,961

990

98,627

Disposals

(16,710

)

(9,800

)

(300

)

(26,810

)

At 31 October 2025

33,612

113,521

4,400

151,533

DEPRECIATION

At 1 November 2024

28,747

38,022

1,756

68,525

Charge for year

3,508

7,906

1,038

12,452

Eliminated on disposal

(10,035

)

(9,702

)

(300

)

(20,037

)

At 31 October 2025

22,220

36,226

2,494

60,940

NET BOOK VALUE

At 31 October 2025

11,392

77,295

1,906

90,593

At 31 October 2024

4,899

4,338

1,954

11,191

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

87,981

26,211

Other debtors

604,340

630,714

692,321

656,925

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans and overdrafts

2,917

5,000

Trade creditors

3,224

5,204

Taxation and social security

73,112

55,007

Other creditors

19,353

21,416

98,606

86,627

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans

-

2,917

9.	PROVISIONS FOR LIABILITIES

31.10.25

31.10.24

£

£

Deferred tax

3,110

2,678

Deferred

tax

£

Balance at 1 November 2024

2,678

Provided during year

432

Balance at 31 October 2025

3,110

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.25

31.10.24

value:

£

£

60

Ordinary

1

60

60

60

A Ordinary

1

60

60

120

120

11.

RESERVES

Retained

earnings

£

At 1 November 2024

599,527

Profit for the year

93,374

At 31 October 2025

692,901

12.	RELATED PARTY DISCLOSURES

At 31 October 2024 the directors owed the company £128,306. During the year the directors met expenses on behalf of the company totalling £25,666. As at 31 October 2025 the directors owed the company £102,640. This loan is interest free and has no fixed terms of repayment.

At 31 October 2024 and 31October 2025 TLS Properties Ltd, a company under common control, owed the company £456,447. This loan is interest free and has no fixed terms of repayment.