Teesside Taping Contractors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06650961 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Teesside Taping Contractors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Watson

Mrs H Watson

SECRETARY:

Mrs H Watson

REGISTERED OFFICE:

33 Westmoreland Grove

Stockton-On-Tees

Cleveland

TS20 1PA

REGISTERED NUMBER:

06650961 (England and Wales)

ACCOUNTANTS:

Switch Accountants

Switch House

City West Business Park

St John's Road

Meadowfield

Durham

DH7 8ER

FIXED ASSETS

Intangible assets

4

35,250

35,250

Tangible assets

5

2,309

2,816

37,559

38,066

CURRENT ASSETS

Stocks

6

60,044

60,044

Debtors

7

27,811

-

Cash at bank

41,378

5,128

129,233

65,172

CREDITORS

Amounts falling due within one year

8

90,863

71,276

NET CURRENT ASSETS/(LIABILITIES)

38,370

(6,104

)

TOTAL ASSETS LESS CURRENT LIABILITIES

75,929

31,962

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

75,927

31,960

SHAREHOLDERS' FUNDS

75,929

31,962

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 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 and authorised for issue on 26 November 2020 and were signed on its behalf by:

Mrs H Watson - Director

1.	STATUTORY INFORMATION

Teesside Taping Contractors 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

35,250

NET BOOK VALUE

At 31 March 2020

35,250

At 31 March 2019

35,250

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2019

and 31 March 2020

10,841

DEPRECIATION

At 1 April 2019

8,025

Charge for year

507

At 31 March 2020

8,532

NET BOOK VALUE

At 31 March 2020

2,309

At 31 March 2019

2,816

6.

STOCKS

31.3.20

31.3.19

£

£

Stocks

60,044

60,044

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

27,811

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

69,427

2,395

Tax

14,420

13,277

Social security and other taxes

(8,407

)

(8,407

)

VAT

14,529

19,670

Directors' current accounts

144

43,591

Accruals and deferred income

750

750

90,863

71,276

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

2

Ordinary

£1

2

2