Tick Finance Ltd Filleted Accounts 31 October 2024 **Registered number 07526461** **Charity Registration No 1144676** ## **Tick Finance Ltd Registered number:** 07526461 **Balance Sheet as at 31 October 2024** |**Notes**
**Current assets**
Debtors
3
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
4
**Net current liabilities**
**Net liabilities**
**Capital and reserves**
Profit and loss account
**Retained earnings**|**2024**
**£**
48,790
3,450
52,240
(63,891)
(11,651)
(11,651)
(11,651)
(11,651)|**2023**
**£**
35,410
14,702
50,112
(60,834)
(10,722)
(10,722)
(10,722)
(10,722)| |---|---|---| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The member has not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. Mr Grahame McGirr Director Approved by the board on 29 August 2025 1 **Tick Finance Ltd Notes to the Accounts for the year ended 31 October 2024** ## **1 Accounting policies** ## _**Basis of preparation**_ The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). ## _**Turnover**_ Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. ## _**Debtors**_ Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. ## _**Creditors**_ Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |**2**
**Employees**
Average number of persons employed by the company
**3**
**Debtors**
Trade debtors
Other debtors
**4**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors|**2024**
**Number**
0
**2024**
**£**
18,615
30,175
48,790
**2024**
**£**
36,705
27,186
63,891|**2023**
**Number**
3
**2023**
**£**
-
35,410
35,410
**2023**
**£**
-
60,834
60,834| |---|---|---| 2 ## **Tick Finance Ltd Notes to the Accounts for the year ended 31 October 2024** ## **5 Controlling party** Company is under the control of the directors. ## **6 Other information** Tick Finance Ltd is a charity limited by guarantee and incorporated in England. Its registered office is: Baird House City West Business Pa Scotswood Road Newcastle upon Tyne NE4 7DF 3 Tick Finance Ltd Report and Accounts 31 October 2024 **Registered number 07526461** **Charity Registration No 1144676** ## **Tick Finance Ltd Report and accounts Contents** ||**Page**| |---|---| |Company information|2| |Trustees report|3 - 4| |Independent examiner's report|5| |Income and expenditure|6| |Balance sheet|7| |Notes to the accounts|8 - 10| 1 ## **Tick Finance Ltd Legal and Administrative Information** ## **Trustees** Mr Christopher Imrie Mr Grahame McGirr ## **Accountants** Hurren & Jubb Accountants Limited Unit 2 - 4 Protection House Albion Road North Shields Tyne & Wear NE30 2RH ## **Registered office** Baird House City West Business Park Scotswood Road Newcastle upon Tyne NE4 7DF **Registered number** 07526461 2 **Tick Finance Ltd Registered number: 07526461 Trustees Report** The directors present their report and accounts for the year ended 31 October 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005. ## **Structure, governance and management** The Smarterbuys Store Limited is a company limited by guarantee. The trustees, who are also the directors for the pupose of company law and served during the year were: Ms Geraldine Kay(Resigned 31/10/2022) Mrs Lesley Richardson(Resigned 31/10/2022) Mr Keith Tallintire(Resigned 31/10/2022) Mr Mark Davinson (Resigned 31/10/2022) Mr Christopher Imrie(Appointed 31/10/2022) Mr Grahame McGirr (Appointed 31/10/2022) ## **Political donations** None of the trustees has any beneficial interest in the company. ## **Third party indemnity provisions** The trustees have assessed the major risks to which the company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Objectives and activities** ## **Employment of disabled persons** The main objective of the charity is the prevention or relief of poverty throughout the UK by providing affordable items and services to individuals in need and to work in partnership with other charities or organisations working to prevent or relieve poverty. An addition charitable objective is to relieve unemployment for public benefit of communities throughout County Durham in such a way as thought fit. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the company should undertake. 3 **Tick Finance Ltd Registered number: 07526461 Trustees Report** ## **Achievements and performance** The furniture scheme lanched 2015 is to provide low cost furniture rental ownership of the goods at the end of the rental period (2 years) with a competitive APR has been well recieved by stakeholders. The scheme is open to all UK residents but is primarily focused on those living in the North East of England. A number of social landlords operating throughout the UK have shown interest in the scheme with firm commitments to adopt the Smarterbuys Store project. This demonstrates the scalability of the model and its ability to help those in financial need no matter where they are in the UK. The governance arrangements are being reviewed and the Trustees are confident of the businesses continued success. ## **Financial review** The company is a not for profit company which is limited by guarantee. Any reserves are recirculated into charitable activities within The Smarterbuys Store Limited. This report was approved by the board on 29 August 2025 and signed on its behalf. Mr Grahame McGirr Director 4 ## **Tick Finance Ltd** ## **Independent Examiner's Report** ## **To the Trustees of the Smarterbuyers Store Limited** ## **Respective responsibilities of an examiner** The trustees, who are also the directors of the The Smarterbuys Store Limited for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011, the Charities Act, and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination being a Qualified Accountant. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: (i) examine the accounts under section 145 of the Charities Act: (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5) (b) of the Charities Act; and (iii) to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directors given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes considerstion of the unusual items or disclosures in the accounts, and seeking, explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: (a) which gives me reasonable cause to believe that in any material respect the requirements: (i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and (ii) to prepare accounts which accord with the accounting records, comply with the accounting requirements of 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities; (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Qualified Accountant Shaun Jubb ACA for and on behalf of Hurren & Jubb Accountants Limited Unit 2-4 Protection House Albion Road North Shields Tyne & Wear NE30 2RH 29 August 2025 5 ## **Tick Finance Ltd** ## **Profit and Loss Account** ## **for the year ended 31 October 2024** |**Incoming resources from generated funds**
Costs of generating funds
**Net incoming resources available**
Governance costs
Other operating income
**Net income for the year**|**2024**
**£**
11,076
(61,121)
(50,045)
(45,582)
94,698
(929)|**2023**
**£**
567
(33,553)
(32,986)
(108,316)
106,635
(34,667)| |---|---|---| 6 ## **Tick Finance Ltd Registered number:** 07526461 **Balance Sheet as at 31 October 2024** |**Notes**
**Current assets**
Debtors
3
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
4
**Net current liabilities**
**Net liabilities**
**Capital and reserves**
Profit and loss account
**Retained earnings**|**2024**
**£**
48,790
3,450
52,240
(63,891)
(11,651)
(11,651)
(11,651)
(11,651)|**2023**
**£**
35,410
14,702
50,112
(60,834)
(10,722)
(10,722)
(10,722)
(10,722)| |---|---|---| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The member has not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. Mr Grahame McGirr Director Approved by the board on 29 August 2025 7 ## **Tick Finance Ltd Statement of Changes in Equity for the year ended 31 October 2024** |**At 1 November 2022**
Loss for the financial year
**At 31 October 2023**
**At 1 November 2023**
Loss for the financial year
**At 31 October 2024**|**Share**
**capital**
**£**
-
-
-
-|**Share**
**premium**
**£**
-
-
-
-|**Re-**
**valuation**
**reserve**
**£**
-
-
-
-|**Profit**
**and loss**
**account**
**£**
23,945
(34,667)
(10,722)
(10,722)
(929)
(11,651)|**Total**
**£**
23,945
(34,667)
(10,722)
(10,722)
(929)
(11,651)| |---|---|---|---|---|---| 8 **Tick Finance Ltd Notes to the Accounts for the year ended 31 October 2024** ## **1 Accounting policies** ## _**Basis of preparation**_ The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). ## _**Turnover**_ Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. ## _**Debtors**_ Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. ## _**Creditors**_ Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |**2**
**Employees**
Average number of persons employed by the company
**3**
**Debtors**
Trade debtors
Other debtors
**4**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors|**2024**
**Number**
0
**2024**
**£**
18,615
30,175
48,790
**2024**
**£**
36,705
27,186
63,891|**2023**
**Number**
3
**2023**
**£**
-
35,410
35,410
**2023**
**£**
-
60,834
60,834| |---|---|---| 9 ## **Tick Finance Ltd Notes to the Accounts for the year ended 31 October 2024** ## **5 Controlling party** Company is under the control of the directors. ## **6 Other information** Tick Finance Ltd is a charity limited by guarantee and incorporated in England. Its registered office is: Baird House City West Business Pa Scotswood Road Newcastle upon Tyne NE4 7DF 10