Company Registration No. 03670618 (England and Wales)
Tailored Systems Ltd
Unaudited Filleted accounts
for the year ended 31 March 2026
Tailored Systems Ltd
Statement of financial position
as at 31 March 2026
Tangible assets
71,526
109,675
Inventories
303,810
266,403
Cash at bank and in hand
238,029
283,877
Creditors: amounts falling due within one year
(445,740)
(371,003)
Net current assets
465,068
502,753
Total assets less current liabilities
536,594
612,428
Creditors: amounts falling due after more than one year
(4,482)
(21,614)
Provisions for liabilities
Deferred tax
(17,882)
(27,419)
Net assets
514,230
563,395
Called up share capital
1,451
1,451
Capital redemption reserve
9,050
9,050
Profit and loss account
503,729
552,894
Shareholders' funds
514,230
563,395
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 October 2026 and were signed on its behalf by
Steven Christopher Grannell
Director
Company Registration No. 03670618
Tailored Systems Ltd
Notes to the Accounts
for the year ended 31 March 2026
Tailored Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 03670618. The registered office is Unit A2, Lecturers Close, Bolton, Lancashire, BL3 6DG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
33% straight line
Motor vehicles
33% reducing balance
Computer equipment
33% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Trade and other debtors are recognised at the transaction price less any provision for impairment. A provision for impairment is made where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable. Balances written off and specific provisions are charged to the profit and loss account.
The tax expense for the year comprises current and deferred tax. Current tax is the amount of corporation tax payable in respect of the taxable profit for the year, calculated using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity.
Tailored Systems Ltd
Notes to the Accounts
for the year ended 31 March 2026
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of hire purchase obligations is charged to the profit and loss account in equal monthly amounts over the term of the agreement.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost.
Plant and equipment repairs of £40,154 for the year ended 31 March 2025 have been reclassified from administrative expenses to cost of sales so that the comparative figures are presented on the same basis as the current year. The reclassification has no effect on the profit for that year or on net assets.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2025
3,970
31,002
206,334
24,695
266,001
At 31 March 2026
3,970
31,002
206,334
24,695
266,001
At 1 April 2025
3,970
28,614
103,185
20,557
156,326
Charge for the year
-
2,388
34,381
1,380
38,149
At 31 March 2026
3,970
31,002
137,566
21,937
194,475
At 31 March 2026
-
-
68,768
2,758
71,526
At 31 March 2025
-
2,388
103,149
4,138
109,675
Tailored Systems Ltd
Notes to the Accounts
for the year ended 31 March 2026
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
21,331
31,995
Amounts falling due within one year
Trade debtors
347,708
304,187
Accrued income and prepayments
21,261
19,289
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Creditors: amounts falling due within one year
2026
2025
Bank loans and overdrafts
3,685
9,580
Obligations under finance leases and hire purchase contracts
13,446
13,446
Trade creditors
303,549
209,908
Taxes and social security
101,420
116,368
Bank loans and overdrafts are secured by a fixed and floating charge over the company’s assets.
The Bounce Back Loan was received in May 2020 under the Government's Covid-19 Bounce Back Loan Scheme and carries interest at 2.5% per annum. The carrying amount at the year end is £3,685 (2025: £13,265), all due within one year.
Finance leases are secured on the assets concerned.
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Creditors: amounts falling due after more than one year
2026
2025
Obligations under finance leases and hire purchase contracts
4,482
17,929
Finance leases are secured on the assets concerned.
8
Operating lease commitments
2026
2025
At 31 March 2026 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
101,164
100,110
Later than one year and not later than five years
133,638
167,167
Tailored Systems Ltd
Notes to the Accounts
for the year ended 31 March 2026
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Average number of employees
During the year the average number of employees was 24 (2025: 24).