The T-Shirt Guy Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05690529 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

The T-Shirt Guy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

Mrs S E Booth

R J Booth

SECRETARY:

Mrs S E Booth

REGISTERED OFFICE:

c/o Charnwood Accountants

The Point, Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

REGISTERED NUMBER:

05690529 (England and Wales)

ACCOUNTANTS:

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

FIXED ASSETS

Tangible assets

4

127,520

62,032

CURRENT ASSETS

Stocks

66,326

320,877

Debtors

5

344,340

317,460

Cash at bank and in hand

1,044,888

394,255

1,455,554

1,032,592

CREDITORS

Amounts falling due within one year

6

1,051,822

535,826

NET CURRENT ASSETS

403,732

496,766

TOTAL ASSETS LESS CURRENT LIABILITIES

531,252

558,798

PROVISIONS FOR LIABILITIES

24,230

12,406

NET ASSETS

507,022

546,392

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

506,022

545,392

SHAREHOLDERS' FUNDS

507,022

546,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 July 2018 and were signed on its behalf by:

R J Booth - Director

1.	STATUTORY INFORMATION

The T-Shirt Guy 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

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 20 (2017 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2017

24,431

40,222

3,500

64,421

132,574

Additions

57,524

9,300

-

18,539

85,363

Disposals

-

-

-

(12,101

)

(12,101

)

At 31 March 2018

81,955

49,522

3,500

70,859

205,836

DEPRECIATION

At 1 April 2017

9,622

10,611

817

49,492

70,542

Charge for year

3,694

4,333

700

10,799

19,526

Eliminated on disposal

-

-

-

(11,752

)

(11,752

)

At 31 March 2018

13,316

14,944

1,517

48,539

78,316

NET BOOK VALUE

At 31 March 2018

68,639

34,578

1,983

22,320

127,520

At 31 March 2017

14,809

29,611

2,683

14,929

62,032

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

275,478

257,763

Other debtors

68,862

59,697

344,340

317,460

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

211,358

110,464

Amounts owed to group undertakings

713,793

364,793

Taxation and social security

114,284

35,906

Other creditors

12,387

24,663

1,051,822

535,826

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

1,000

Ordinary

£1

1,000

1,000

8.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mr R and Mrs S Booth by virtue of their shareholding in T-Shirt

Guy Holdings Limited.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of The T-Shirt Guy Limited for the year ended 31 March 2018 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of The T-Shirt Guy Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The T-Shirt Guy Limited and state those matters that we have agreed to state to the Board of Directors of The T-Shirt Guy Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The T-Shirt Guy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The T-Shirt Guy Limited. You consider that The T-Shirt Guy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The T-Shirt Guy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

24 July 2018