31/03/2018
2018-03-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
false
No description of principal activities is disclosed
2017-04-01
Sage Accounts Production 18.30 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
09910092
2017-04-01
2018-03-31
09910092
2018-03-31
09910092
2016-04-01
2017-03-31
09910092
2017-03-31
09910092
bus:RegisteredOffice
2017-04-01
2018-03-31
09910092
bus:LeadAgentIfApplicable
2017-04-01
2018-03-31
09910092
bus:Director1
2017-04-01
2018-03-31
09910092
bus:Director2
2017-04-01
2018-03-31
09910092
core:WithinOneYear
2018-03-31
09910092
core:WithinOneYear
2017-03-31
09910092
core:ShareCapital
2016-04-01
2017-03-31
09910092
core:RetainedEarningsAccumulatedLosses
2016-04-01
2017-03-31
09910092
core:RetainedEarningsAccumulatedLosses
2017-04-01
2018-03-31
09910092
core:AfterOneYear
2017-03-31
09910092
core:ShareCapital
2018-03-31
09910092
core:ShareCapital
2017-03-31
09910092
core:RetainedEarningsAccumulatedLosses
2018-03-31
09910092
core:RetainedEarningsAccumulatedLosses
2017-03-31
09910092
bus:SmallEntities
2017-04-01
2018-03-31
09910092
bus:AuditExempt-NoAccountantsReport
2017-04-01
2018-03-31
09910092
bus:FullAccounts
2017-04-01
2018-03-31
09910092
bus:SmallCompaniesRegimeForAccounts
2017-04-01
2018-03-31
09910092
bus:PrivateLimitedCompanyLtd
2017-04-01
2018-03-31
Company registration number:
09910092
TLS (Southwark Street) Limited
Unaudited filleted financial statements
31 March 2018
TLS (Southwark Street) Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
TLS (Southwark Street) Limited
Directors and other information
|
|
|
|
Directors
|
Mr J J Chadd
|
|
|
Mr S G Pycroft
|
|
|
|
|
|
|
|
Company number
|
09910092
|
|
|
|
|
|
|
|
Registered office
|
7-7c
|
|
|
Snuff Street
|
|
|
Devizes
|
|
|
Wiltshire
|
|
|
SN10 1DU
|
|
|
|
|
|
|
|
Accountants
|
Charlton Baker Limited
|
|
|
7-7c Snuff Street
|
|
|
Devizes
|
|
|
Wiltshire
|
|
|
SN10 1DU
|
|
|
|
TLS (Southwark Street) Limited
Statement of financial position
31 March 2018
|
|
|
2018
|
|
|
|
2017
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
12,309,099
|
|
|
|
7,924,079
|
|
|
Debtors
|
|
4
|
182,387
|
|
|
|
72,915
|
|
|
Cash at bank and in hand
|
|
|
441,662
|
|
|
|
1,109,134
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
12,933,148
|
|
|
|
9,106,128
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
5
|
(
12,956,297)
|
|
|
|
(
2,015,055)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current (liabilities)/assets
|
|
|
|
|
(
23,149)
|
|
|
|
7,091,073
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
(
23,149)
|
|
|
|
7,091,073
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
6
|
|
|
-
|
|
|
|
(
7,102,251)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net liabilities
|
|
|
|
|
(
23,149)
|
|
|
|
(
11,178)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
101
|
|
|
|
101
|
Profit and loss account
|
|
|
|
|
(
23,250)
|
|
|
|
(
11,279)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders deficit
|
|
|
|
|
(
23,149)
|
|
|
|
(
11,178)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 December 2018
, and are signed on behalf of the board by:
Mr J J Chadd
Director
Company registration number:
09910092
TLS (Southwark Street) Limited
Statement of changes in equity
Year ended 31 March 2018
|
|
Called up share capital
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2016
|
|
-
|
|
-
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the year
|
|
|
|
(
11,279)
|
(
11,279)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
(
11,279)
|
(
11,279)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares
|
|
101
|
|
|
101
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total investments by and distributions to owners
|
|
101
|
|
-
|
101
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2017 and 1 April 2017
|
|
101
|
|
(
11,279)
|
(
11,178)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the year
|
|
|
|
(
11,971)
|
(
11,971)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
(
11,971)
|
(
11,971)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2018
|
|
101
|
|
(
23,250)
|
(
23,149)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TLS (Southwark Street) Limited
Notes to the financial statements
Year ended 31 March 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7-7c, Snuff Street, Devizes, Wiltshire, SN10 1DU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4.
Debtors
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
28,800
|
-
|
|
Other debtors
|
|
153,587
|
72,915
|
|
|
|
_______
|
_______
|
|
|
|
182,387
|
72,915
|
|
|
|
_______
|
_______
|
|
|
|
|
|
5.
Creditors: amounts falling due within one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
12,372,192
|
1,402,986
|
|
Trade creditors
|
|
469,903
|
608,583
|
|
Other creditors
|
|
114,202
|
3,486
|
|
|
|
_______
|
_______
|
|
|
|
12,956,297
|
2,015,055
|
|
|
|
_______
|
_______
|
|
|
|
|
|
6.
Creditors: amounts falling due after more than one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Other loan
|
|
-
|
7,102,251
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value
|
|
Balance owed by/(owed to)
|
|
|
|
2018
|
2017
|
2018
|
2017
|
|
|
£
|
£
|
£
|
£
|
|
Tranche Limited
|
977,237
|
850,396
|
(
8,079,488)
|
(
7,102,251)
|
|
Tailored Living Solutions Limited
|
(4,178)
|
596
|
(4,774)
|
(596)
|
|
TLS (Alma Yard) Limited
|
103,254
|
-
|
103,254
|
-
|
|
TLS (Haydon's Road) Limited
|
300
|
-
|
300
|
-
|
|
TLS (Peckham road) Limited
|
300
|
-
|
300
|
-
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
Tranche Limited
Tranche Limited, which is ultimately controlled by Mr S Pycroft, has a participating interest in
TLS (Southwark Street) Limited
. During the year Tranche Limited has provided a further loan of £400,000 (2017: £6,484,451). The loan is interest bearing and accrued interest charged of £577,237 (2017 : £617,800) for the year. At the end of the year, the outstanding amount is £8,079,488 (2017 : £7,102,251) and payable within a year.
Tailored Living Solutions Limited
During the year the company received £4,178 (2017: £596) in loans from Tailored Living Solutions Limited, a company ultimately controlled by Mr J Chadd. The balance of £4,774 (2017: £596) is outstanding at the year end.
TLS (Alma Yard) Limited
The company has made an interest free loan of £103,254 to TLS (Alma Yard) Limited during the year, a company which is ultimately controlled by
Mr S G Pycroft
. The balance was repaid in full post the year end.
TLS (Haydons Road) Limited
During the year TLS (Southwark Street) Limited has settled liability of TLS (Haydons Road) Limited. The director, Mr J Chadd has participating interest in these companies. At the year end the total outstanding amount is £300 (2017: £0) and has been included in other debtors.
TLS (Peckham Road) Limited
During the year TLS (Southwark Street) Limited has settled liability of TLS (Peckham Road) Limited. The director, Mr J Chadd has participating interest in these companies. At the year end the total outstanding amount is £300 (2017: £0) and has been included in other debtors.
8.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2016.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.