TSI Snowsports Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07651245 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

TSI Snowsports Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Duffy

S Lee-Duffy

REGISTERED OFFICE:

17 Firs Close

Hazlemere

High Wycombe

Buckinghamshire

HP15 7TF

REGISTERED NUMBER:

07651245 (England and Wales)

ACCOUNTANTS:

EWP Limited

20 Anchor Terrace

3-13 Southwark Bridge Road

London

SE1 9HQ

FIXED ASSETS

Tangible assets

4

636

1,656

CURRENT ASSETS

Stocks

543

543

Debtors

5

5,229

2,250

Cash at bank and in hand

23,204

35,424

28,976

38,217

CREDITORS

Amounts falling due within one year

6

5,798

18,773

NET CURRENT ASSETS

23,178

19,444

TOTAL ASSETS LESS CURRENT LIABILITIES

23,814

21,100

CREDITORS

Amounts falling due after more than one year

7

(20,000

)

-

ACCRUALS AND DEFERRED INCOME

(2,823

)

(5,996

)

NET ASSETS

991

15,104

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

989

15,102

SHAREHOLDERS' FUNDS

991

15,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 14 December 2021 and were signed on its behalf by:

S Lee-Duffy - Director

1.	STATUTORY INFORMATION

TSI Snowsports Limited is a private company, limited by shares , registered in England and Wales. 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 represents net invoiced sales of services provided in the year, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

and 31 May 2021

7,214

DEPRECIATION

At 1 June 2020

5,558

Charge for year

1,020

At 31 May 2021

6,578

NET BOOK VALUE

At 31 May 2021

636

At 31 May 2020

1,656

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Amounts owed by group undertakings

2,150

2,250

Other debtors

3,079

-

5,229

2,250

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Taxation and social security

-

17,702

Other creditors

5,798

1,071

5,798

18,773

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans

20,000

-

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs M Duffy.