TIGHTEN-UP LIMITED
TIGHTEN-UP LIMITED
TIGHTEN-UP LIMITED
Company Registration Number:
03769060 (England and Wales)
Unaudited statutory accounts for the year ended 31 August 2021
Period of accounts
Start date: 1 September 2020
End date: 31 August 2021
TIGHTEN-UP LIMITED
Contents of the Financial Statements
for the Period Ended 31 August 2021
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
TIGHTEN-UP LIMITED
Profit And Loss Account
for the Period Ended
2021 | 2020 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | | |
Profit(or loss) before tax: | | |
Tax: | ( | ( |
Profit(or loss) for the financial year: | | |
TIGHTEN-UP LIMITED
Balance sheet
As at
Notes | 2021 | 2020 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Tangible assets: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | 4 | | |
Debtors: | 5 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 6 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 7 | ( | ( |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | | | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
TIGHTEN-UP LIMITED
Balance sheet statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
TIGHTEN-UP LIMITED
Notes to the Financial Statements
for the Period Ended 31 August 2021
-
1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Tangible fixed assets depreciation policy
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Intangible fixed assets amortisation policy
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Other accounting policies
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably
TIGHTEN-UP LIMITED
Notes to the Financial Statements
for the Period Ended 31 August 2021
-
2. Employees
2021 2020 Average number of employees during the period 6 8
TIGHTEN-UP LIMITED
Notes to the Financial Statements
for the Period Ended 31 August 2021
3. Tangible assets
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 September 2020 | | | | |||
Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 August 2021 | | | | |||
Depreciation | ||||||
At 1 September 2020 | | | | |||
Charge for year | | | | |||
On disposals | ||||||
Other adjustments | ||||||
At 31 August 2021 | | | | |||
Net book value | ||||||
At 31 August 2021 | | | | |||
At 31 August 2020 | | | |
TIGHTEN-UP LIMITED
Notes to the Financial Statements
for the Period Ended 31 August 2021
4. Stocks
2021 | 2020 | |
---|---|---|
£ | £ | |
Stocks | | |
Total | | |
TIGHTEN-UP LIMITED
Notes to the Financial Statements
for the Period Ended 31 August 2021
5. Debtors
2021 | 2020 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Total | | |
TIGHTEN-UP LIMITED
Notes to the Financial Statements
for the Period Ended 31 August 2021
6. Creditors: amounts falling due within one year note
2021 | 2020 | |
---|---|---|
£ | £ | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Other creditors | | |
Total | | |
TIGHTEN-UP LIMITED
Notes to the Financial Statements
for the Period Ended 31 August 2021
7. Creditors: amounts falling due after more than one year note
2021 | 2020 | |
---|---|---|
£ | £ | |
Other creditors | | |
Total | | |