Total Protection (Painting Solutions) Lt - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07786205 (England and Wales)

Financial Statements

for the Year Ended 31st March 2019

for

TOTAL PROTECTION (PAINTING SOLUTIONS)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M J Morley

Mr G S J Bollen

Mr C L Burton

SECRETARY:

Mr G J Raven

REGISTERED OFFICE:

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

BUSINESS ADDRESS:

The Coach House

West Hanningfield Road

Baddow Park

Chelmsford

Essex

CM2 7SY

REGISTERED NUMBER:

07786205 (England and Wales)

SENIOR STATUTORY AUDITOR:

Peter Sartain FCCA

AUDITORS:

CBHC Limited Statutory Auditors

Suite 3, First Floor

The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

FIXED ASSETS

Tangible assets

4

129,093

76,507

Investments

5

100

100

129,193

76,607

CURRENT ASSETS

Stocks

81,360

82,599

Debtors

6

2,647,989

1,532,226

Cash at bank and in hand

126,799

85,670

2,856,148

1,700,495

CREDITORS

Amounts falling due within one year

7

2,217,986

1,142,260

NET CURRENT ASSETS

638,162

558,235

TOTAL ASSETS LESS CURRENT LIABILITIES

767,355

634,842

CREDITORS

Amounts falling due after more than one year

8

(15,413

)

(8,977

)

PROVISIONS FOR LIABILITIES

(24,528

)

(14,536

)

NET ASSETS

727,414

611,329

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

727,214

611,129

SHAREHOLDERS' FUNDS

727,414

611,329

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 17th December 2019 and were signed on its behalf by:

Mr M J Morley - Director

Mr G S J Bollen - Director

1.	STATUTORY INFORMATION

Total Protection (Painting Solutions) 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 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. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The company and its parent comprise a small group. The company has therefore taken advantage of the

exemption provided in section 398 of the Companies Act 2006 not to prepare group financial statements and

accordingly these financial statements present information about the company as a single undertaking.

Turnover

The turnover is measured as the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes. The following criteria must also be met before the revenue is

recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-

the Company has transferred the significant risks and rewards of ownership to the buyer;

-

the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the transaction; and

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in

accordance with the stage of completion of the contract when all of the following conditions are satisfied:

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the contract;

-

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

-

the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment

losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and

condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less residual value over their estimated useful lives,

using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings

- 25% Straight line

Motor vehicles

- 20% Straight line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are

recognised in profit or loss.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on

the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and

attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If Stock is impaired, the carrying amount is

reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in

profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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

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.

The company operates a money purchase scheme. Contributions payable to the company's pension scheme are

charged to the profit and loss account in the period to which they relate.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future payments discounted at a market rate of

interest. Such instruments are subsequently carried at amortised cost using effective interest method, less any

impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amount of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2018

100,024

Additions

96,947

Disposals

(36,740

)

At 31st March 2019

160,231

DEPRECIATION

At 1st April 2018

23,517

Charge for year

23,212

Eliminated on disposal

(15,591

)

At 31st March 2019

31,138

NET BOOK VALUE

At 31st March 2019

129,093

At 31st March 2018

76,507

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st April 2018

and 31st March 2019

100

NET BOOK VALUE

At 31st March 2019

100

At 31st March 2018

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

2,614,565

1,523,048

Other debtors

33,424

9,178

2,647,989

1,532,226

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 9)

10,550

17,905

Trade creditors

279,736

185,379

Amounts owed to group undertakings

940,296

470,735

Taxation and social security

215,762

80,902

Other creditors

771,642

387,339

2,217,986

1,142,260

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 9)

15,413

8,977

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2019

2018

£

£

Net obligations repayable:

Within one year

10,550

17,905

Between one and five years

15,413

8,977

25,963

26,882

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

25,963

26,882

Invoice finance

269,664

13,113

295,627

39,995

The hire purchase liability is secured against the assets to which they relate.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Sartain FCCA (Senior Statutory Auditor)

for and on behalf of CBHC Limited Statutory Auditors

12.	RELATED PARTY DISCLOSURES

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.

13.	ULTIMATE PARENT COMPANY

Total Protection (Great Britain) Limited is the immediate parent company for the current and preceding year due

to its shareholding in the company. Total Protection (Holdings) Limited is the ultimate parent company for the

current and preceding year due to its shareholding in the immediate parent company. Total Protection (Holdings)

Limited prepares consolidated financial statements and these may be obtained from their registered office at

Monometer House, Rectory Grove, Leigh on Sea, Essex, SS9 2HL.