T.I. Holdings Limited - Period Ending 2018-12-31

T.I. Holdings Limited - Period Ending 2018-12-31


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Registration number: 05392575

T.I. Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2018

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

T.I. Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

T.I. Holdings Limited

Company Information

Directors

J Ivory

N Ivory

D J Tainton

T Tainton

E Vaithianathan

Company secretary

J Ivory

Registered office

523 Gloucester Road
Horfield
Bristol
BS7 8UG

Accountants

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

T.I. Holdings Limited

(Registration number: 05392575)
Balance Sheet as at 31 December 2018

Note

2018
£

2017
£

Fixed assets

 

Investments

3

500,000

500,000

Current assets

 

Debtors

4

182,825

152,209

Cash at bank and in hand

 

22,310

82,726

 

205,135

234,935

Creditors: Amounts falling due within one year

5

(51,215)

(33,377)

Net current assets

 

153,920

201,558

Net assets

 

653,920

701,558

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

328,354

328,354

Profit and loss account

324,566

372,204

Total equity

 

653,920

701,558

For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

T.I. Holdings Limited

(Registration number: 05392575)
Balance Sheet as at 31 December 2018

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 has been taken.

Approved and authorised by the Board on 27 September 2019 and signed on its behalf by:
 

.........................................

J Ivory

Company secretary and director

 

T.I. Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

1

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

T.I. Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2017 - 5).

3

Investments

2018
£

2017
£

Investments in subsidiaries

500,000

500,000

Subsidiaries

£

Cost or valuation

At 1 January 2018

1,170,632

Provision

At 1 January 2018

670,632

Carrying amount

At 31 December 2018

500,000

At 31 December 2017

500,000

 

T.I. Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2018

2017

Subsidiary undertakings

David Fear Electrical Limited

523 Gloucester Road, Horfield, Bristol, BS7 8UG

Ordinary shares

100%

100%

 

United Kingdom

     

David Fear Electrical Contractors Limited

523 Gloucester Road, Horfield, Bristol, BS7 8UG

Ordinary shares

100%

100%

 

United Kingdom

     

The principal activity of David Fear Electrical Limited is electrical contractors.

The principal activity of David Fear Electrical Contractors Limited is electrical contractors.

The profit for the financial period of David Fear Electrical Limited was £20,566 and the aggregate amount of capital and reserves at the end of the period was £134,035.

The profit for the financial period of David Fear Electrical Contractors Limited was £333,782 and the aggregate amount of capital and reserves at the end of the period was £2,196,117.

4

Debtors

Note

2018
£

2017
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

7

4,773

11,430

Other debtors

 

178,052

140,779

 

182,825

152,209

 

T.I. Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

5

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

27,084

-

Taxation and social security

 

4,668

4,033

Accruals and deferred income

 

1,163

1,491

Other creditors

 

18,300

27,853

 

51,215

33,377

The company has granted a fixed and floating charge over the assets of the company in respect of group bank overdrafts. At 31 December 2018 the contingent liability was £nil (2017 - £nil)

6

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

7

Related party transactions

Transactions with directors

2018

At 1 January 2018
£

Advances to directors
£

At 31 December 2018
£

D J Tainton

Amounts due to/(from) the director

(116,083)

(31,617)

(147,700)

       
     

 

2017

At 1 July 2016
£

Advances to directors
£

At 31 December 2017
£

D J Tainton

Amounts due to/(from) the director

(98,302)

(17,781)

(116,083)

       
     

 
 

T.I. Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

Income and receivables from related parties

2018

Subsidiary
£

Receipt of services

168,231

2017

Subsidiary
£

Receipt of services

233,253

Loans to related parties

2018

Subsidiary
£

Advanced

4,773

Loans from related parties

2018

Subsidiary
£

Advanced

27,084

8

Parent and ultimate parent undertaking

The ultimate parent is JCH Holdings and DT Holdings (Bristol) Limited, incorporated in United Kingdom.

 The ultimate controlling party is Ms J Ivory and Mr D J Tainton by virtue of their respective shareholdings in JCH Holdings Limited and DT Holdings (Bristol) Limited.