Thobani Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08457115 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Thobani Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Alnazir Thobani

Amin Thobani

REGISTERED OFFICE:

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

REGISTERED NUMBER:

08457115 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

FIXED ASSETS

Intangible assets

4

277,667

294,667

Tangible assets

5

939,404

963,500

Investment property

6

581,107

581,107

1,798,178

1,839,274

CURRENT ASSETS

Debtors

7

295,702

326,026

Cash at bank and in hand

181,580

96,929

477,282

422,955

CREDITORS

Amounts falling due within one year

8

409,781

539,241

NET CURRENT ASSETS/(LIABILITIES)

67,501

(116,286

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,865,679

1,722,988

CREDITORS

Amounts falling due after more than one year

9

1,137,743

1,236,691

NET ASSETS

727,936

486,297

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

727,836

486,197

727,936

486,297

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.

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 18 June 2019 and were signed on its behalf by:

Alnazir Thobani - Director

1.	STATUTORY INFORMATION

Thobani Services 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 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

10% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2018 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

340,000

AMORTISATION

At 1 April 2018

45,333

Charge for year

17,000

At 31 March 2019

62,333

NET BOOK VALUE

At 31 March 2019

277,667

At 31 March 2018

294,667

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

974,331

70,624

1,044,955

Additions

-

2,538

2,538

At 31 March 2019

974,331

73,162

1,047,493

DEPRECIATION

At 1 April 2018

63,979

17,476

81,455

Charge for year

19,487

7,147

26,634

At 31 March 2019

83,466

24,623

108,089

NET BOOK VALUE

At 31 March 2019

890,865

48,539

939,404

At 31 March 2018

910,352

53,148

963,500

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

581,107

NET BOOK VALUE

At 31 March 2019

581,107

At 31 March 2018

581,107

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

295,702

326,026

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

136,735

141,127

Taxation and social security

74,643

60,672

Other creditors

198,403

337,442

409,781

539,241

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

1,137,743

1,236,691

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,137,743

1,236,691

10.	RELATED PARTY DISCLOSURES

As at balance sheet date, other debtors include a loan due from Thobani Properties Limited of £294,302 (2018 -

£324,431). The loan is interest free. Amin Thobani, is a director and shareholder of Thobani Properties Limited

as well as Thobani Services Ltd.