Tarrant Valley Interiors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04531990 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

TARRANT VALLEY INTERIORS LTD

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

4,017

5,356

4,017

5,356

Current assets

Stock and work in progress

500

6,500

Cash at bank

-

7,533

500

14,033

Creditors

Amounts falling due within one year

6

23,696

34,943

Net current liabilities

(23,196

)

(20,910

)

Total assets less current liabilities

(19,179

)

(15,554

)

Capital and reserves

Called up share capital

7

2

2

Retained earnings

(19,181

)

(15,556

)

Shareholders' funds

(19,179

)

(15,554

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2020 and were signed on its behalf by:

Mr R Tower - Director

1.	Statutory information

Tarrant Valley Interiors Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number is 04531990. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business

address is 7 Old Manor Farm, Hinton Martell, Wimborne, Dorset, BH21 7HR.

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 company made a loss of £3,625 during the year, and had a deficiency of assets at the year end of £19,179. The

company is dependent upon the continued support of its director. The director has agreed to support the company over

the next 12 months in order that it can meet its day to day working capital requirements.

Turnover

Turnover represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course

of business. Turnover is recognised as soon as the service has been provided to the customer.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life and is now fully

amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the

contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any

losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 2 (2018 - 2 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 November 2018

and 31 October 2019

15,000

Amortisation

At 1 November 2018

and 31 October 2019

15,000

Net book value

At 31 October 2019

-

At 31 October 2018

-

5.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 November 2018

and 31 October 2019

1,761

950

8,865

598

12,174

Depreciation

At 1 November 2018

1,520

941

3,878

479

6,818

Charge for year

60

2

1,247

30

1,339

At 31 October 2019

1,580

943

5,125

509

8,157

Net book value

At 31 October 2019

181

7

3,740

89

4,017

At 31 October 2018

241

9

4,987

119

5,356

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank loans and overdrafts

3,691

-

Trade creditors

140

3,940

Deposits & payments on account

-

12,000

Social security and other taxes

540

640

VAT

1,194

1,048

Other creditors

2,473

2,866

Directors' current accounts

14,263

13,054

Accruals and deferred income

1,395

1,395

23,696

34,943

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1

2

2

8.	Ultimate controlling party

Mr R Tower owns 100% of the issued share capital and is therefore deemed to be the ultimate controlling party.