T.P. Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01999397 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

T.P. Enterprises Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Taylor

L Taylor

S C Taylor

SECRETARY:

B O'Hare

REGISTERED OFFICE:

Meadowfield Avenue

Green Lane Industrial Estate

Spennymoor

Durham

DL16 6YJ

REGISTERED NUMBER:

01999397 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Kepier House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

334,904

290,154

Investments

5

75,000

75,000

409,904

365,154

CURRENT ASSETS

Debtors

6

92,901

438,122

Cash at bank and in hand

788,394

199,831

881,295

637,953

CREDITORS

Amounts falling due within one year

127,243

211,834

NET CURRENT ASSETS

754,052

426,119

TOTAL ASSETS LESS CURRENT LIABILITIES

1,163,956

791,273

CREDITORS

Amounts falling due after more than one year

(33,406

)

-

PROVISIONS FOR LIABILITIES

8

(20,738

)

(11,298

)

NET ASSETS

1,109,812

779,975

CAPITAL AND RESERVES

Called up share capital

13,757

13,757

Capital redemption reserve

11,250

11,250

Retained earnings

1,084,805

754,968

1,109,812

779,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 May 2019 and were signed on its behalf by:

S C Taylor - Director

1.	STATUTORY INFORMATION

T.P. Enterprises 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year, and also have been consistently applied within the same

accounts.

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.

Income Recognition

Income is recognised upon completion of the service.

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.

Freehold property and land

-

2% on cost and not provided

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

No depreciation has been charged on the land aspect of the freehold property as the value is not expected to

diminish.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

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.

Group exemption

The financial statements contain information about T.P. Enterprises Limited as an individual company, and do

not contain consolidated financial information as the parent of a group. The company is exempt under Section

398 of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries and joint ventures

Investment in subsidiary undertakings and joint ventures are recognised at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

638,472

Additions

69,089

At 31 March 2019

707,561

DEPRECIATION

At 1 April 2018

348,318

Charge for year

24,339

At 31 March 2019

372,657

NET BOOK VALUE

At 31 March 2019

334,904

At 31 March 2018

290,154

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

Totals

£

COST

At 1 April 2018

57,690

Additions

52,467

Transfer to ownership

(57,690

)

At 31 March 2019

52,467

DEPRECIATION

At 1 April 2018

40,882

Charge for year

7,481

Transfer to ownership

(45,084

)

At 31 March 2019

3,279

NET BOOK VALUE

At 31 March 2019

49,188

At 31 March 2018

16,808

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2018

and 31 March 2019

75,000

NET BOOK VALUE

At 31 March 2019

75,000

At 31 March 2018

75,000

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other debtors

-

343,644

7.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

41,067

4,650

Hire purchase contracts are secured on the assets to which they relate.

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

20,738

11,298

Deferred

tax

£

Balance at 1 April 2018

11,298

Charged to Income Statement

9,440

Balance at 31 March 2019

20,738

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2019 and

31 March 2018:

2019

2018

£

£

S C Taylor and L Taylor

Balance outstanding at start of year

343,644

242,752

Amounts advanced

146,610

310,480

Amounts repaid

(496,649

)

(209,588

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(6,395

)

343,644

10.	RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions other than

those listed below

2019

2019

£

£

Directors loan account owed from/(to) the company

6,395

(363,644)

Balance owed from joint venture

17,075

16,795

There was no interest charged on these balances.

11.	SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

2019 £

2018 £

13,750

'A' Ordinary

£1

13,750

13,750

3

'B' Ordinary

£1

3

3

1

'C' Ordinary

£1

1

1

1

'D' Ordinary

£1

1

1

1

'E' Ordinary

£1

1

1

1

'F' Ordinary

£1

1

1

13,757

13,757