Tradesmen Facilities Services UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08124555 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Tradesmen Facilities Services UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Carwithen

REGISTERED OFFICE:

Unit 181

Avenue M Second Floor

Stoneleigh Park

Kenilworth

Warwickshire

CV8 2LG

REGISTERED NUMBER:

08124555 (England and Wales)

ACCOUNTANTS:

M Franklins Chart. Cert. Accountants

84 Albion Court

Attleborough Road

Nuneaton

Warwickshire

CV11 4JJ

FIXED ASSETS

Tangible assets

4

32,017

41,923

CURRENT ASSETS

Stocks

38,000

5,876

Debtors

5

361,210

98,558

Cash at bank

5,208

21,877

404,418

126,311

CREDITORS

Amounts falling due within one year

6

762,250

115,517

NET CURRENT (LIABILITIES)/ASSETS

(357,832

)

10,794

TOTAL ASSETS LESS CURRENT LIABILITIES

(325,815

)

52,717

CREDITORS

Amounts falling due after more than one year

7

(16,744

)

(30,172

)

PROVISIONS FOR LIABILITIES

(831

)

(1,649

)

NET (LIABILITIES)/ASSETS

(343,390

)

20,896

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

19,750

19,750

Retained earnings

(364,140

)

146

(343,390

)

20,896

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 director acknowledges his 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 director on 23 December 2019 and were signed by:

R Carwithen - Director

1.	STATUTORY INFORMATION

Tradesmen Facilities Services UK 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.

The financial statements are prepared in sterling, which is the functional currency

of the company. Monetary amounts in these financial statements are rounded to

the nearest £

The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted are set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable,

excluding discounts, rebates, value added tax and other sales taxes.

Revenue contracts for provision of services is recognised by reference to the stage

of completion when the stage of completion , costs and costs to complete can be

estimated reliably. The stage of completion is calculated by comparing costs

incurred, mainly in relation to contractual hourly staff rates and materials as a

proportion of total costs. Where the outcome cannot be estimated reliably , revenue

is recognised only to the extent of the expenses recognised that are recoverable

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on cost

Stocks & work in progress

Stocks are valued at the lower of cost and net realiable value, after making

allowance for obsolete and slow moving items

Work in progress is valued at the lower of cost and net realisable value based on

the level of completion of the work and after allowing for items not recoverable

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial

Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all

its financial instruments.

Financial instrumements are recognised in the company's balance sheet when the

company becomes party to the contractual provisions of the instrument

Financial assets and liabilities are offset, with the net amounts presented in the

financial statements, when there is a legally enforceable right to set off the

recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously

Debtors and creditors with no stated interest rate and receivable and payable

within one year are recorded at transaction price. Any losses arising from

impairment are recognised in the profit and loss account in other administrative

expenses.

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

Finance charges relating to hire purchase agreements are charged to profit & loss

on a straight line basis over the period of the agreement

Rentals paid operating leases are charged to profit or loss account 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.

Going concern

The Company has made losses of £364,286 during the year and the Balance Sheet

shows a net deficit of £343,390. After taking appropriate professional advice the

Company agreed and entered in to a Company Voluntary Arrangement (CVA) with

its creditors dated 20th February 2019. Details of this arrangement are available

from Companies House. All assets and liabilities included in these financial

statements are shown at full fair value and no discount applied to reflect the CVA

arrangement

The director has produced projections and budgets for a period of over twelve

months from the date of this report that indicate the company will be able to meet

its commitments under the CVA and to pay all new liabilities as they fall due. To

the date of these financial statements approval the company has met its liabilities

and its CVA commitments on time and in full.

The director therefore concludes that it is appropriate to prepare the financial

statements on a going concern basis and no restatement of the assets or liabilities

is necessary to reflect any alternative basis

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

47,503

Additions

1,200

At 31 March 2019

48,703

DEPRECIATION

At 1 April 2018

5,580

Charge for year

11,106

At 31 March 2019

16,686

NET BOOK VALUE

At 31 March 2019

32,017

At 31 March 2018

41,923

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

309,081

62,844

Other debtors

52,129

35,714

361,210

98,558

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

10,503

10,503

Trade creditors

370,766

31,978

Taxation and social security

286,354

24,491

Other creditors

94,627

48,545

762,250

115,517

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

16,744

30,172

8.	ULTIMATE CONTROLLING PARTY

The controlling party is R Carwithen.