Registration number:
Total Concrete Products Limited
for the Year Ended 31 May 2020
Total Concrete Products Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Total Concrete Products Limited
Company Information
Directors |
Mr Daniel Beecroft Mr Jonathon David Beeson |
Registered office |
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Accountants |
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Total Concrete Products Limited
(Registration number: 08266892)
Balance Sheet as at 31 May 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Stocks |
- |
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Debtors |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
- |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
- |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
Total Concrete Products Limited
(Registration number: 08266892)
Balance Sheet as at 31 May 2020
For the financial year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account or director report has been taken.
Approved and authorised by the
.........................................
Director
Total Concrete Products Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors and other related parties. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.
Total Concrete Products Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
Judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover represents net invoiced sales of goods, excluding value added tax deriving from ordinary activities. Income is recognised when sufficient risks and rewards of ownership of the goods have been transferred to the buyer, and the right to consideration has arisen.
Tax
The tax amount for the period comprises deferred tax.
Deferred tax is recognised in respect of all timing differences between the treatment of certain items for taxation and accounting purposes. The differences that have originated but not reversed at the balance sheet date are measured at the rate expected to apply in future periods upon reversal. Deferred tax liabilities and assets are not discounted.
Tangible assets
Tangible assets are stated in the statement of financial position at their revalued amount, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
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.
Asset class |
Depreciation method and rate |
Improvements to property (land and buildings) |
1% on cost |
Plant and machinery (other tangible assets) |
15% on reducing balance |
Fixtures and fittings ( furniture, fittings and equipment) |
25% on reducing balance |
Motor vehicles |
25% on reducing balance |
Computer equipment (furniture, fixtures and equipment) |
33% on cost |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Total Concrete Products Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
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Cost or valuation |
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At 1 June 2019 |
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Additions |
- |
- |
- |
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Disposals |
( |
( |
( |
( |
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At 31 May 2020 |
- |
- |
- |
- |
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Depreciation |
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At 1 June 2019 |
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Eliminated on disposal |
( |
( |
( |
( |
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At 31 May 2020 |
- |
- |
- |
- |
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Carrying amount |
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At 31 May 2020 |
- |
- |
- |
- |
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At 31 May 2019 |
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Total |
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Cost or valuation |
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At 1 June 2019 |
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Additions |
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Disposals |
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At 31 May 2020 |
- |
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Depreciation |
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At 1 June 2019 |
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Eliminated on disposal |
( |
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At 31 May 2020 |
- |
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Carrying amount |
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At 31 May 2020 |
- |
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At 31 May 2019 |
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Total Concrete Products Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
Debtors |
2020 |
2019 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
- |
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Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Due within one year |
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Other borrowings |
- |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
2020 |
2019 |
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Due after one year |
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Other borrowings |
- |
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Total Concrete Products Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
Related party transactions |
Summary of transactions with other related parties
These amounts were still outstanding at the year end and are shown in other creditors. These amounts are interest free and repayable on demand.
At the year end the company showed loans totalling £383,911 (2019 £408,911) from Land Recovery Limited and £145,000 (2019 £50,000) from Land Recovery Rail Limited. Land Recovery Limited and Land Recovery (Rail) Limited are related parties due to the fact Mr D Beecroft is also a shareholder in both companies.
These amounts were still outstanding at the year end and are shown in other creditors. These amounts are interest free and repayable on demand.