Town & City Secretaries Ltd - Limited company accounts 20.1

REGISTERED NUMBER: 06247712 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2019

FOR

TOWN & CITY SECRETARIES LTD

Page

Company Information

1

Report of the Directors

2

Statement of Income and Retained Earnings

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

P W Bigge

Mrs S E Johnson

SECRETARY:

Mrs S E Johnson

REGISTERED OFFICE:

2nd Floor North Point

Faverdale North

Darlington

Co. Durham

DL3 0PH

REGISTERED NUMBER:

06247712 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 31st December 2019.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2019 to the date of this report.

P W Bigge

Mrs S E Johnson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P W Bigge - Director

19th May 2020

TURNOVER

54,847

64,997

Administrative expenses

2,053

2,209

OPERATING PROFIT

52,794

62,788

Interest receivable and similar income

4

35

52,798

62,823

Interest payable and similar expenses

22

-

PROFIT BEFORE TAXATION

52,776

62,823

Tax on profit

4

10,027

11,936

PROFIT FOR THE FINANCIAL YEAR

42,749

50,887

Dividends

5

(42,749

)

(50,887

)

CURRENT ASSETS

Debtors

6

601

3,236

Cash at bank

-

158

601

3,394

CREDITORS

Amounts falling due within one year

7

600

3,393

NET CURRENT ASSETS

1

TOTAL ASSETS LESS CURRENT
LIABILITIES

1

CAPITAL AND RESERVES

Called up share capital

8

1

SHAREHOLDERS' FUNDS

1

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 10th June 2020 and were signed on
its behalf by:

P W Bigge - Director

1.	STATUTORY INFORMATION

Town & City Secretaries Ltd 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.

Turnover

Turnover represents insurance commission receivable.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained

Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31/12/19

31/12/18

£

Current tax:

UK corporation tax

10,027

11,936

Tax on profit

10,027

11,936

5.

DIVIDENDS

31/12/19

31/12/18

£

Ordinary share of £1

Final

42,749

50,887

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

Amount due from Parent Company

601

3,236

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

Tax

-

2,792

Accrued expenses

600

601

600

3,393

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/19

31/12/18

value:

£

1

Ordinary

£1

1

9.	ULTIMATE CONTROLLING PARTY

The parent company is Town & City Management Ltd, a company registered in England and Wales. Town & City

Management Ltd owns the whole of the issued share capital in the company.

The ultimate controlling party is Mr P W Bigge who jointly owns, with his wife, the whole of the issued share capital in

Town & City Management Ltd. Mr P W Bigge and Mrs S E Johnson are also directors of Town & City Management Ltd.