Tavcom Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03120861 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

TAVCOM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Gill

K S Matthew

G McCormick

SECRETARY:

G McCormick

REGISTERED OFFICE:

1 High Street

Thatcham

Berks

RG19 3JG

REGISTERED NUMBER:

03120861 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Tangible assets

4

282,633

292,147

CURRENT ASSETS

Debtors

5

232,351

329,709

Cash at bank and in hand

486,186

259,194

718,537

588,903

CREDITORS

Amounts falling due within one year

6

242,096

189,241

NET CURRENT ASSETS

476,441

399,662

TOTAL ASSETS LESS CURRENT LIABILITIES

759,074

691,809

PROVISIONS FOR LIABILITIES

1,274

2,265

NET ASSETS

757,800

689,544

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

757,700

689,444

SHAREHOLDERS' FUNDS

757,800

689,544

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 applicable to companies subject to the small companies regime.

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 10 December 2019 and were signed on its behalf by:

D J Gill - Director

1.	STATUTORY INFORMATION

Tavcom 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.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

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.

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 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

363,912

119,525

483,437

DEPRECIATION

At 1 April 2018

80,707

110,583

191,290

Charge for year

7,278

2,236

9,514

At 31 March 2019

87,985

112,819

200,804

NET BOOK VALUE

At 31 March 2019

275,927

6,706

282,633

At 31 March 2018

283,205

8,942

292,147

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

191,729

305,961

Amounts owed by group undertakings

20,000

19,803

Other debtors

20,622

3,945

232,351

329,709

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

53,840

27,489

Amounts owed to group undertakings

99,544

29,495

Taxation and social security

27,508

70,409

Other creditors

61,204

61,848

242,096

189,241

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

100

Ordinary A

£1

100

100

10

Ordinary B

£1

-

-

10

Ordinary C

£1

-

-

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2018

689,444

Profit for the year

68,256

At 31 March 2019

757,700

9.	CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st March 2019 and at 31st March 2018.

10.	RELATED PARTY DISCLOSURES

During the year the company made the following related party transactions:

Management charges have been paid in the year amounting to £141,400 (2018 - £21,600) to Linx International

Limited,

The directors are of the view that the transactions have all been carried out on a normal commercial basis.

At the year end the following was due to / due from the following related parties:

Arc Training International Limited - £20,000 (2018 - £19,803) was due from Arc Training International Limited

Linx International Limited - £99,944 (2018 - £26,235) was due to Linx International Limited

Perpetuity Training Limited - £nil (2018 - £3,260) was due to Perpetuity Training Limited.

11.	ULTIMATE CONTROLLING PARTY

Linx International Ltd controls the company with 70% of the ordinary share capital which was acquired on 1st

May 2015.

The other 30% is owned by Mr Paul Tennent, a director.