Totally Natural Solutions Ltd - Accounts to registrar (filleted) - small 18.2

TOTALLY NATURAL SOLUTIONS LTD

Financial Statements

for the Year Ended 31 July 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

C Wilson

Registered office:

Unit 2, Eastlands Estate Maidstone Road

Paddock Wood

Tonbridge

Kent

TN12 6BU

Registered number:

08410460 (England and Wales)

Fixed assets

Intangible assets

4

76,740

74,063

Tangible assets

5

534,824

330,111

611,564

404,174

Current assets

Stocks

546,968

371,370

Debtors

6

946,220

434,307

Cash at bank and in hand

1,328,420

955,503

2,821,608

1,761,180

Creditors

Amounts falling due within one year

7

419,904

317,251

Net current assets

2,401,704

1,443,929

Total assets less current liabilities

3,013,268

1,848,103

Creditors

Amounts falling due after more than one year

8

(162,089

)

-

Provisions for liabilities

10

(117,910

)

(47,008

)

Net assets

2,733,269

1,801,095

Capital and reserves

Called up share capital

1,000

1,000

Retained earnings

2,732,269

1,800,095

2,733,269

1,801,095

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 17 November 2021 and were signed by:

C Wilson - Director

1.	Statutory information

Totally Natural Solutions Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Amounts in these financial statements are rounded to the nearest £.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised in the period to which it relates, based on order fulfilment.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed 10 years.

The estimated useful lives range as follows:

Patents

-

straight line up to July 2035

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following basis:

Plant and machinery

-

3-10 years straight line

Fixtures and fittings

-

15% straight line

Office equipment

-

33% straight line

Leasehold property improvements

-

10% straight line

Motor vehicles

-

20% straight line

The assets residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of profit and loss.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Debtors

Short term debtors are measured at transaction price, less any impairment

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Operating lease incentives

The benefits of lease incentives are charged to the Income Statement on a straight line basis over the lease term.

Pensions: defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of profit and loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Going concern

The current economic conditions, together with the COVID-19 pandemic, present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

3.	Employees and directors

The average number of employees during the year was 22 (2020 - 15 ) .

4.	Intangible fixed assets

Patents and

licences

£

Cost

At 1 August 2020

87,279

Additions

7,811

At 31 July 2021

95,090

Amortisation

At 1 August 2020

13,216

Amortisation for year

5,134

At 31 July 2021

18,350

Net book value

At 31 July 2021

76,740

At 31 July 2020

74,063

5.	Tangible fixed assets

Fixtures

Improvements

Plant and

and

to property

machinery

fittings

£

£

£

Cost

At 1 August 2020

91,836

296,757

31,098

Additions

62,643

203,225

7,295

Disposals

-

(38,646

)

-

At 31 July 2021

154,479

461,336

38,393

Depreciation

At 1 August 2020

9,138

96,809

9,867

Charge for year

10,857

52,310

4,683

Eliminated on disposal

-

(25,366

)

-

At 31 July 2021

19,995

123,753

14,550

Net book value

At 31 July 2021

134,484

337,583

23,843

At 31 July 2020

82,698

199,948

21,231

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 August 2020

-

57,676

477,367

Additions

14,345

15,723

303,231

Disposals

-

(710

)

(39,356

)

At 31 July 2021

14,345

72,689

741,242

Depreciation

At 1 August 2020

-

31,442

147,256

Charge for year

478

16,722

85,050

Eliminated on disposal

-

(522

)

(25,888

)

At 31 July 2021

478

47,642

206,418

Net book value

At 31 July 2021

13,867

25,047

534,824

At 31 July 2020

-

26,234

330,111

6.

Debtors

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

849,756

384,642

Tax

-

7,354

VAT

45,610

15,330

Prepayments

22,354

18,481

917,720

425,807

Amounts falling due after more than one year:

Other debtors

28,500

8,500

Aggregate amounts

946,220

434,307

7.

Creditors: amounts falling due within one year

2021

2020

£

£

Bank and other loans

87,911

56,438

Trade creditors

108,514

106,128

Amounts owed to group undertakings

43,271

-

Tax

15,829

56,532

Social security and other taxes

28,178

16,869

Other creditors

2,678

593

Accruals and deferred income

133,523

80,691

419,904

317,251

8.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Bank and other loans

162,089

-

9.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

156,133

58,000

Between one and five years

581,033

232,000

In more than five years

466,133

14,500

1,203,299

304,500

10.	Provisions for liabilities

2021

2020

£

£

Deferred tax

99,776

47,008

Other provisions

18,134

-

117,910

47,008

Deferred tax

£

Balance at 1 August 2020

47,008

Provided during year

52,768

Balance at 31 July 2021

99,776