Tour Construction Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07333498 (England and Wales)

TOUR CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Biggin

Mrs J Biggin

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

07333498 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

NatWest

5 Market Place

Chesterfield

S40 1TJ

FIXED ASSETS

Tangible assets

5

53,350

67,695

CURRENT ASSETS

Debtors

6

284,785

385,231

Cash at bank and in hand

155,624

36,100

440,409

421,331

CREDITORS

Amounts falling due within one year

7

248,181

219,278

NET CURRENT ASSETS

192,228

202,053

TOTAL ASSETS LESS CURRENT LIABILITIES

245,578

269,748

CREDITORS

Amounts falling due after more than one year

8

(20,537

)

(38,459

)

PROVISIONS FOR LIABILITIES

(9,070

)

(12,862

)

NET ASSETS

215,971

218,427

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

215,871

218,327

SHAREHOLDERS' FUNDS

215,971

218,427

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 May 2019 and were signed on its behalf by:

Mr J Biggin - Director

Mrs J Biggin - Director

1.	STATUTORY INFORMATION

Tour Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The significant judgements and estimates are as follows:

Amounts recoverable on contracts are valued at cost plus profit earned on that contract to date. This value is

supported by certified values on each job by the internal and external surveyors. If the two valuations differ the

residual amount is held as amounts recoverable on contracts until completion on the job, where on the final

account valuation this amount is then recoverable.

The depreciation policies are set in line with the estimated useful life of the assets, given the use of those assets

and changes in technology or legislation. The rates are annually reviewed in line to what the directors believe the

assets are worth taken into account the income streams generated by those assets.

Turnover

Turnover represents the value excluding Value Added Tax of construction services provided to customers during

the year. In respect of construction services provided, all income is taken to profit and loss at the same point as

the right to receive consideration has been acquired.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt

instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as

such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited

direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2017

20,382

4,156

102,977

6,421

133,936

Additions

-

-

-

1,966

1,966

At 31 August 2018

20,382

4,156

102,977

8,387

135,902

DEPRECIATION

At 1 September 2017

8,330

2,352

50,524

5,035

66,241

Charge for year

1,807

272

13,115

1,117

16,311

At 31 August 2018

10,137

2,624

63,639

6,152

82,552

NET BOOK VALUE

At 31 August 2018

10,245

1,532

39,338

2,235

53,350

At 31 August 2017

12,052

1,804

52,453

1,386

67,695

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 September 2017

and 31 August 2018

84,102

DEPRECIATION

At 1 September 2017

35,610

Charge for year

12,124

At 31 August 2018

47,734

NET BOOK VALUE

At 31 August 2018

36,368

At 31 August 2017

48,492

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

42,888

104,965

Amounts recoverable on contract

218,826

247,466

Other debtors

23,071

32,800

284,785

385,231

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

17,922

19,367

Trade creditors

129,570

145,340

Amounts owed to related parties

42,057

33,057

Taxation and social security

56,048

19,053

Other creditors

2,584

2,461

248,181

219,278

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

20,537

38,459

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

38,459

57,826

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary share

£1

100

100

11.	CAPITAL COMMITMENTS

The company had no capital commitments, or contingent liabilities at the balance sheet date.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2018 and

31 August 2017:

2018

2017

£

£

Mr J Biggin

Balance outstanding at start of year

17,452

11,858

Amounts advanced

16,952

5,594

Amounts repaid

(17,452

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,952

17,452

The loan is interest free and repayable on demand.

13.	RELATED PARTY DISCLOSURES

Key management personnel remuneration in the year totalled £23,292 (2017: £22,728).