T A Drilling (Sales) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06444154 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

FOR

T A DRILLING (SALES) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P J Benford

Mr J W Styles

REGISTERED OFFICE:

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

REGISTERED NUMBER:

06444154 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

FIXED ASSETS

Tangible assets

4

81,937

81,656

CURRENT ASSETS

Stocks

5

1,902,208

1,683,591

Debtors

6

707,426

749,531

Cash at bank and in hand

685,717

768,439

3,295,351

3,201,561

CREDITORS

Amounts falling due within one year

7

1,655,967

1,758,658

NET CURRENT ASSETS

1,639,384

1,442,903

TOTAL ASSETS LESS CURRENT LIABILITIES

1,721,321

1,524,559

PROVISIONS FOR LIABILITIES

8

15,568

13,355

NET ASSETS

1,705,753

1,511,204

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,705,653

1,511,104

SHAREHOLDERS' FUNDS

1,705,753

1,511,204

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 17 April 2020 and were signed on its behalf by:

Mr P J Benford - Director

1.	STATUTORY INFORMATION

T A Drilling (Sales) 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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 10 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 August 2018

36,008

5,303

94,050

135,361

Additions

2,800

-

28,140

30,940

Disposals

(9,690

)

-

(12,270

)

(21,960

)

At 31 July 2019

29,118

5,303

109,920

144,341

Depreciation

At 1 August 2018

20,838

4,111

28,756

53,705

Charge for year

2,181

179

19,782

22,142

Eliminated on disposal

(5,134

)

-

(8,309

)

(13,443

)

At 31 July 2019

17,885

4,290

40,229

62,404

Net book value

At 31 July 2019

11,233

1,013

69,691

81,937

At 31 July 2018

15,170

1,192

65,294

81,656

5.

STOCKS

2019

2018

£

£

Finished goods

1,902,208

1,683,591

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

691,289

734,301

Prepayments and accrued income

16,137

15,230

707,426

749,531

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

522,016

662,742

Amounts owed to participating interests

811,128

811,128

Tax

56,823

39,429

Social security and other taxes

6,708

8,567

VAT

37,330

53,697

Directors' current accounts

148,000

110,000

Accruals and deferred income

73,962

73,095

1,655,967

1,758,658

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

15,568

13,355

Deferred

tax

£

Balance at 1 August 2018

13,355

Provided during year

2,213

charge for the year

Balance at 31 July 2019

15,568

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

At balance sheet date, there was an amount due to directors' of £148,000 (2018 : £110,000). This is an interest

free advance to the company and does not have a fixed date of repayment.

Tunnelling Accessories Limited is a company ultimately controlled by P J Benford and family members.

Tradecreditors due within one year includes £26,767 due to that company. Trade debtors includes £529 due from

that company.

P J Benford is also a partner in Tunnelling Accessories. Included in these accounts are management charges of

£144,042 on normal trading terms. Creditors due within one year includes £600 due to Tunnelling Accessories.

Trade debtors includes £187 due from Tunnelling Accessories.

J W Styles is a director of Brosterfield Engineering Services Limited who act as service engineers. Included in

these accounts are charges from that company of £35,832. Trade creditors due within one year includes £6,077.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P J Benford.