Registration number:
Tilon C G Ltd
for the Year Ended 30 April 2022
Tilon C G Ltd
(Registration number: 08495145)
Balance Sheet as at 30 April 2022
Note |
2022 |
2021 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Total assets |
1,591,887 |
568,151 |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Revaluation reserve |
|
|
|
Retained earnings |
( |
( |
|
(444,485) |
90,135 |
||
Creditors: Amounts falling due within one year |
( |
( |
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Total liabilities |
1,591,887 |
568,151 |
Tilon C G Ltd
(Registration number: 08495145)
Balance Sheet as at 30 April 2022
For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Tilon C G Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax payable.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Tilon C G Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
Asset class |
Depreciation method and rate |
Plant and Machinery |
10% straight line |
Office equipment |
33% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Tilon C G Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
Taxation |
2022 |
2021 |
||
£ |
£ |
||
Corporation tax |
(34,670) |
(62,898) |
|
Deferred tax |
- |
- |
|
(34,670) |
(62,898) |
Other operating income |
2022 |
2021 |
||
£ |
£ |
||
Government grants |
- |
833 |
|
Rental income |
- |
- |
|
Miscellaneous other income |
25,585 |
- |
|
25,585 |
833 |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tilon C G Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
Tangible assets |
Plant and machinery |
Office equipment |
Total |
|
Cost or valuation |
|||
At 1 May 2021 |
|
|
|
Additions |
|
- |
|
At 30 April 2022 |
|
|
|
Depreciation |
|||
At 1 May 2021 |
|
|
|
Charge for the year |
|
|
|
At 30 April 2022 |
|
|
|
Carrying amount |
|||
At 30 April 2022 |
|
|
|
At 30 April 2021 |
|
|
|
The fixed assets were revalued as part of the acquisition of the trade of another company.
Tilon C G Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
Stocks |
2022 |
2021 |
|
Raw materials and consumables |
|
|
Finished goods and goods for resale |
|
|
|
|
Debtors |
Current |
Note |
2022 |
2021 |
Trade debtors |
|
|
|
Amounts owed by related parties |
- |
|
|
Prepayments |
|
|
|
Other debtors |
- |
|
|
|
|
Tilon C G Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
|
Due within one year |
||
Loans and borrowings |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
|
Due after one year |
|||
Loans and borrowings |
|
|
|
Other non-current financial liabilities |
|
- |
|
1,112,306 |
43,333 |
The Waste and Resources Action Programme has a charge dated 30th November 2021 in respect of a grant of £300,000 to fund fixed assets. £240,210 was received in the year and will be released to the profit and loss account to match the depreciation.
£841,950 included in amounts due after more than one year related to monies converted to equity after the year end.
Tilon C G Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
Loans and borrowings |
2022 |
2021 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
2022 |
2021 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
Other borrowings |
|
- |
|
|
Related party transactions |
Summary of transactions with key management
Transactions with directors |
Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Companies House
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
|||
No. |
£ |
No. |
£ |
|
|
|
150,050 |
|
150,050 |