Tich Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04781489 (England and Wales)

Financial Statements for the Year Ended 31 October 2022

for

TICH LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

Mr D M Inzani

SECRETARY:

Mr J Cordani

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

04781489 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

& Statutory Auditors

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

50,914

56,768

50,914

56,768

CURRENT ASSETS

Stocks

1,504

1,465

Debtors

6

9,560

9,560

Cash at bank and in hand

1,674,941

1,524,545

1,686,005

1,535,570

CREDITORS

Amounts falling due within one year

7

(440,084

)

(268,336

)

NET CURRENT ASSETS

1,245,921

1,267,234

TOTAL ASSETS LESS CURRENT LIABILITIES

1,296,835

1,324,002

CREDITORS

Amounts falling due after more than one year

8

-

(40,417

)

PROVISIONS FOR LIABILITIES

(7,969

)

(9,144

)

NET ASSETS

1,288,866

1,274,441

CAPITAL AND RESERVES

Called up share capital

10

51

51

Capital redemption reserve

11

49

49

Retained earnings

11

1,288,766

1,274,341

SHAREHOLDERS' FUNDS

1,288,866

1,274,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 24 July 2023 and were signed by:

Mr D M Inzani - Director

1.	STATUTORY INFORMATION

Tich 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill has been fully written off.

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.

Short leasehold

-

Over the lease period

Plant and machinery

-

20% straight line basis

Fixtures and fittings

-

20% straight line basis

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 17 (2021 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2021

and 31 October 2022

200,000

AMORTISATION

At 1 November 2021

and 31 October 2022

200,000

NET BOOK VALUE

At 31 October 2022

-

At 31 October 2021

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 November 2021

and 31 October 2022

103,364

129,494

78,992

311,850

DEPRECIATION

At 1 November 2021

54,657

131,795

68,630

255,082

Charge for year

4,134

(2,301

)

4,021

5,854

At 31 October 2022

58,791

129,494

72,651

260,936

NET BOOK VALUE

At 31 October 2022

44,573

-

6,341

50,914

At 31 October 2021

48,707

(2,301

)

10,362

56,768

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Prepayments

9,560

9,560

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans and overdrafts (see note 9)

-

9,583

Trade creditors

35,939

38,300

Amounts owed to participating interests

316,896

184,000

Taxation and social security

56,934

28,696

Other creditors

30,315

7,757

440,084

268,336

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans (see note 9)

-

40,417

9.

LOANS

An analysis of the maturity of loans is given below:

31.10.22

31.10.21

£

£

Amounts falling due within one year or on demand:

Bank loans

-

9,583

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

9,787

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

30,630

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.22

31.10.21

value:

£

£

51

Ordinary

£1

51

51

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 November 2021

1,274,341

49

1,274,390

Profit for the year

66,175

66,175

Dividends

(51,750

)

(51,750

)

At 31 October 2022

1,288,766

49

1,288,815

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021:

31.10.22

31.10.21

£

£

Mr D M Inzani

Balance outstanding at start of year

(350

)

9,858

Amounts advanced

76,768

47,579

Amounts repaid

(76,560

)

(57,787

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(142

)

(350

)

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £26,382 (2021 - £22,431) were paid to the director .