Tablegard Limited Filleted accounts for Companies House (small and micro)

false false false false false false false false false true false false false false false false false No description of principal activity 2018-12-01 Sage Accounts Production Advanced 2019 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 05283519 2018-12-01 2019-11-30 05283519 2019-11-30 05283519 2018-11-30 05283519 2017-12-01 2018-11-30 05283519 2018-11-30 05283519 core:PlantMachinery 2018-12-01 2019-11-30 05283519 core:MotorVehicles 2018-12-01 2019-11-30 05283519 bus:LeadAgentIfApplicable 2018-12-01 2019-11-30 05283519 bus:Director2 2018-12-01 2019-11-30 05283519 core:PlantMachinery 2018-11-30 05283519 core:MotorVehicles 2018-11-30 05283519 core:PlantMachinery 2019-11-30 05283519 core:MotorVehicles 2019-11-30 05283519 core:WithinOneYear 2019-11-30 05283519 core:WithinOneYear 2018-11-30 05283519 core:ShareCapital 2019-11-30 05283519 core:ShareCapital 2018-11-30 05283519 core:RetainedEarningsAccumulatedLosses 2019-11-30 05283519 core:RetainedEarningsAccumulatedLosses 2018-11-30 05283519 core:MotorVehicles 2018-11-30 05283519 bus:SmallEntities 2018-12-01 2019-11-30 05283519 bus:AuditExemptWithAccountantsReport 2018-12-01 2019-11-30 05283519 bus:FullAccounts 2018-12-01 2019-11-30 05283519 bus:SmallCompaniesRegimeForAccounts 2018-12-01 2019-11-30 05283519 bus:PrivateLimitedCompanyLtd 2018-12-01 2019-11-30

COMPANY REGISTRATION NUMBER: 05283519

Tablegard Limited

Filleted Unaudited Financial Statements

30 November 2019

Tablegard Limited

Financial Statements

Year ended 30th November 2019

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Tablegard Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Tablegard Limited

Year ended 30th November 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tablegard Limited for the year ended 30th November 2019, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of Tablegard Limited, as a body, in accordance with the terms of our engagement letter dated 2nd March 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Tablegard Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tablegard Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tablegard Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tablegard Limited. You consider that Tablegard Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Tablegard Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BMK ACCOUNTING LIMITED Chartered Accountants

43 Lockview Road Stranmillis Belfast BT9 5FJ

17 March 2020

Tablegard Limited

Statement of Financial Position

30 November 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5		1,848	2,904

Current assets

Stocks		178,259	152,172
Debtors	6	216,032	186,302
Cash at bank and in hand		178,199	170,684
		---------	---------
		572,490	509,158

Creditors: amounts falling due within one year	7	181,507		145,346
		---------		---------
Net current assets			390,983	363,812
			---------	---------
Total assets less current liabilities			392,831	366,716
			---------	---------
Net assets			392,831	366,716
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	392,829	366,714
	---------	---------
Shareholders funds	392,831	366,716
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30th November 2019 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 financial statements for the year in question in accordance with section 476 ;

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

Tablegard Limited

Statement of Financial Position (continued)

30 November 2019

These financial statements were approved by the board of directors and authorised for issue on 16 March 2020 , and are signed on behalf of the board by:

Mr R Kelly

Director

Company registration number: 05283519

Tablegard Limited

Notes to the Financial Statements

Year ended 30th November 2019

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 6 Spring Mill, Moor Street, Heywood, OL10 3DD, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or 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.

Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Motor vehicles	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2018: 3 ).

5. Tangible assets

Plant and machinery	Motor vehicles	Total
£	£	£

Cost
At 1st December 2018 and 30th November 2019	4,920	5,280	10,200
	-------	-------	--------
Depreciation
At 1st December 2018	4,920	2,376	7,296
Charge for the year	–	1,056	1,056
	-------	-------	--------
At 30th November 2019	4,920	3,432	8,352
	-------	-------	--------
Carrying amount
At 30th November 2019	–	1,848	1,848
	-------	-------	--------
At 30th November 2018	–	2,904	2,904
	-------	-------	--------

6. Debtors

	2019	2018
	£	£

Trade debtors	154,043	153,102
Amounts owed by group undertakings	33,436	11,681
Other debtors	28,553	21,519
	---------	---------
	216,032	186,302
	---------	---------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£

Trade creditors	139,111	111,207
Corporation tax	12,492	20,261
Social security and other taxes	27,904	11,878
Other creditors	2,000	2,000
	---------	---------
	181,507	145,346
	---------	---------

8. Related party transactions

The company has taken advantage of the exemption under the terms of FRS 102 section 1A, from disclosing related party transactions with entities that are wholly owned subsidiaries of the Talbot Textile & Upholstery Supply Co. Limited group of companies. The following company is considered to be a related party for the purposes of Financial Reporting Standard 102: Company Relationship The Cross Community Company Common director The following related party transaction occurred during the year:- Donations totalling £Nil (2018 - £12,000) were paid to The Cross Community Company.

9. Controlling party

At the reporting date the company's immediate and ultimate parent company was Talbot Textiles & Upholstery Supply Co Limited, a company incorporated in Northern Ireland. At the reporting date the ultimate controlling parties were the shareholders of Talbot Textiles & Upholstery Supply Co. Limited.