Company Registration No. 07637189 (England and Wales)
Tea People Ltd.
Unaudited accounts
for the year ended 31 March 2023
Tea People Ltd.
Unaudited accounts
Contents
Tea People Ltd.
Company Information
for the year ended 31 March 2023
Directors
Neeraj Agarwal
Vishaka Agarwal
Company Number
07637189 (England and Wales)
Registered Office
Unit 5, Broughton Close
115 Loverock Road
Reading
United Kingdom
RG30 1DZ
Accountants
Kubed Solutions Ltd
11 Sycamore Avenue
Hatfield
AL10 8LZ
Tea People Ltd.
Statement of financial position
as at 31 March 2023
Tangible assets
6,566
6,391
Inventories
107,000
102,000
Cash at bank and in hand
22,505
25,526
Creditors: amounts falling due within one year
(74,468)
(48,229)
Net current assets
221,132
193,838
Total assets less current liabilities
227,698
200,229
Creditors: amounts falling due after more than one year
(76,383)
(90,786)
Net assets
151,315
109,443
Called up share capital
1,000
1,000
Profit and loss account
150,315
108,443
Shareholders' funds
151,315
109,443
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2023 and were signed on its behalf by
Neeraj Agarwal
Director
Company Registration No. 07637189
Tea People Ltd.
Notes to the Accounts
for the year ended 31 March 2023
Tea People Ltd. is a private company, limited by shares, registered in England and Wales, registration number 07637189. The registered office is Unit 5, Broughton Close, 115 Loverock Road, Reading, United Kingdom, RG30 1DZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
-
12,590
9,012
2,302
23,904
Additions
64
-
381
1,466
1,911
At 31 March 2023
64
12,590
9,393
3,768
25,815
At 1 April 2022
-
12,590
4,392
531
17,513
Charge for the year
13
-
1,000
723
1,736
At 31 March 2023
13
12,590
5,392
1,254
19,249
At 31 March 2023
51
-
4,001
2,514
6,566
At 31 March 2022
-
-
4,620
1,771
6,391
Amounts falling due within one year
Trade debtors
89,394
10,737
Amounts falling due after more than one year
Amounts due from group undertakings etc.
67,573
94,477
Tea People Ltd.
Notes to the Accounts
for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
52,937
26,194
Amounts owed to group undertakings and other participating interests
2,713
-
Taxes and social security
10,985
15,253
Loans from directors
6,709
6,782
7
Creditors: amounts falling due after more than one year
2023
2022
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Transactions with related parties
Tea People Limited and Tea People Trading Limited are wholly owned by Vishaka Agarwal (50%) and Neeraj Agarwal (50%). Thus, making them Associated companies.
During the year there were the following related-party transactions:
Tea People Limited sold £ 33,917 (2022: £ 37,946) of stock to Tea People Trading Limited.
Tea People Limited purchased £ 21,498 (2022: £ 27,184) of stock from Tea People Trading Limited.
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Average number of employees
During the year the average number of employees was 13 (2022: 12).
