Technical Tunnelling Components Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06646221 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2019

for

Technical Tunnelling Components Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J P Robertshaw

Mrs G A Jakes

Mr P Benford

REGISTERED OFFICE:

Unit K, Radius Court

Tungston Park

Off Coventry Road

Hinckley

Leicestershire

LE10 3BE

REGISTERED NUMBER:

06646221 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

4

29,722

33,708

Tangible assets

5

27,224

43,043

56,946

76,751

CURRENT ASSETS

Stocks

77,644

37,430

Debtors

6

264,275

131,560

Cash at bank and in hand

409,140

497,437

751,059

666,427

CREDITORS

Amounts falling due within one year

7

242,015

236,178

NET CURRENT ASSETS

509,044

430,249

TOTAL ASSETS LESS CURRENT LIABILITIES

565,990

507,000

PROVISIONS FOR LIABILITIES

5,172

8,178

NET ASSETS

560,818

498,822

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

560,718

498,722

SHAREHOLDERS' FUNDS

560,818

498,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2020 and were signed on its behalf by:

Mrs G A Jakes - Director

1.	STATUTORY INFORMATION

Technical Tunnelling Components 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 represents the value, net of value added tax, of goods and services provided to customers.

Patents and licences

Patents and licences acquired from 2013 to 2018 are being amortised evenly over their estimated useful life of

ten years.

Tangible fixed assets

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

Tooling

-

20% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 August 2018

46,745

Additions

765

At 31 July 2019

47,510

AMORTISATION

At 1 August 2018

13,037

Amortisation for year

4,751

At 31 July 2019

17,788

NET BOOK VALUE

At 31 July 2019

29,722

At 31 July 2018

33,708

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Tooling

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2018

98,747

1,411

2,336

102,494

Additions

860

-

-

860

At 31 July 2019

99,607

1,411

2,336

103,354

DEPRECIATION

At 1 August 2018

56,522

1,398

1,531

59,451

Charge for year

16,054

13

612

16,679

At 31 July 2019

72,576

1,411

2,143

76,130

NET BOOK VALUE

At 31 July 2019

27,031

-

193

27,224

At 31 July 2018

42,225

13

805

43,043

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

240,702

125,822

Other debtors

23,573

5,738

264,275

131,560

- Other debtors includes prepayments and accrued income of £3,777 (2018: £5,738).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade creditors

206,151

130,292

Taxation and social security

11,695

34,158

Other creditors

24,169

71,728

242,015

236,178

- Other creditors includes accruals and deferred income of £3,500 (2018: £4,428).

8.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance

sheet as at 31 July 2019 is £7,458 (2018: £14,298)