Tisa Injection Mouldings Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03308217 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

TISA INJECTION MOULDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R W Perry

T Singh

P M Stanley

REGISTERED OFFICE:

Mr R Perry

3 Malthouse Road

Tipton

West Midlands

DY4 9AE

REGISTERED NUMBER:

03308217 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Tangible assets

4

3,790

-

CURRENT ASSETS

Stocks

51,489

37,922

Debtors

5

403,775

375,666

455,264

413,588

CREDITORS

Amounts falling due within one year

6

(485,853

)

(431,301

)

NET CURRENT LIABILITIES

(30,589

)

(17,713

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(26,799

)

(17,713

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(26,899

)

(17,813

)

SHAREHOLDERS' FUNDS

(26,799

)

(17,713

)

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 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 26 July 2023 and were signed on its behalf by:

R W Perry - Director

1.	STATUTORY INFORMATION

Tisa Injection Mouldings 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.

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

-

at varying rates on cost

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of overheads.

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.

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.

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at the balance sheet date. A full valuation is obtained from a qualified valuer for each property every five years, with an interim valuation three years after the previous full valuation, and in any year where it is likely that there has been a material change in value.

Revaluation gains and losses are recognised in the statement of total recognised gains and losses unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the losses are recognised in the Profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 November 2021

91,811

Additions

4,459

At 31 October 2022

96,270

DEPRECIATION

At 1 November 2021

91,811

Charge for year

669

At 31 October 2022

92,480

NET BOOK VALUE

At 31 October 2022

3,790

At 31 October 2021

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by related parties

366,709

366,709

Other debtors

33,582

7,918

Deferred tax asset

3,484

1,039

403,775

375,666

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed to related parties

478,237

396,651

Other creditors

7,616

34,650

485,853

431,301

7.	DEFERRED TAX

£

Balance at 1 November 2021

(1,039

)

Movement of losses

(3,200

)

Accelerated capital allowances

755

Balance at 31 October 2022

(3,484

)

8.	CONTINGENT LIABILITIES

TISA Injection Mouldings Limited and its fellow subsidiaries of TWP Manufacturing Limited are cross guaranteeing the 10 year bank loan In TWP Manufacturing Limited 2022: £261,473 (2021: £297,067).

9.	ULTIMATE CONTROLLING PARTY

On 21st December 2018 TWP Manufacturing Limited's directors are now the ultimate controlling party.