TRS Construction Solutions Ltd Filleted accounts for Companies House (small and micro)

TRS CONSTRUCTION SOLUTIONS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 4739262

TRS Construction Solutions Ltd

Filleted Unaudited Financial Statements

30 April 2020

TRS Construction Solutions Ltd

Statement of Financial Position

30 April 2020

	2020	2019
Note	£	£

Fixed assets

Tangible assets	5	1	1

Current assets

Stocks		88,826	231,279
Debtors	6	257,180	272,748
Cash at bank and in hand		484,230	354,004
		---------	---------
		830,236	858,031

Creditors: amounts falling due within one year	7	463,273	494,750
		---------	---------
Net current assets		366,963	363,281
		---------	---------
Total assets less current liabilities		366,964	363,282
		---------	---------
Net assets		366,964	363,282
		---------	---------

Capital and reserves

Called up share capital	200	200
Profit and loss account	366,764	363,082
	---------	---------
Shareholders funds	366,964	363,282
	---------	---------

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 Section 1A of 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 30 April 2020 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 .

TRS Construction Solutions Ltd

Statement of Financial Position (continued)

30 April 2020

These financial statements were approved by the board of directors and authorised for issue on 25 August 2020 , and are signed on behalf of the board by:

C Wright

Director

Company registration number: 4739262

TRS Construction Solutions Ltd

Notes to the Financial Statements

Year ended 30 April 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Copp Barn, Westerleigh Road, Westerleigh, Bristol, BS37 8QH.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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.

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:

	Equipment	-	25% 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.

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.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2019: 8 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 May 2019 and 30 April 2020	2,495	2,495
	-------	-------
Depreciation
At 1 May 2019 and 30 April 2020	2,494	2,494
	-------	-------
Carrying amount
At 30 April 2020	1	1
	-------	-------
At 30 April 2019	1	1
	-------	-------

6. Debtors

	2020	2019
	£	£
Trade debtors	229,034	251,652
Other debtors	28,146	21,096
	---------	---------
	257,180	272,748
	---------	---------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	288,991	356,685
Corporation tax	46,989	68,571
Social security and other taxes	74,608	6,900
Other creditors	52,685	62,594
	---------	---------
	463,273	494,750
	---------	---------

8. Events after the end of the reporting period

The directors are monitoring the impact of Covid19 closely and at present do not believe Covid will have a significant impact upon the business over the next twelve months.

9. Directors' advances, credits and guarantees

The directors have a current account with the company. During the year advances and repayments were made and at 30 April 2020 the directors owed the company £16,592 (2019 the company owed the directors £5,871) which amount is included in debtors (2019 creditors) in these financial statements.

10. Related party transactions

There is no overall controlling party of the company. The company has received advances and credits from Total Roofing Solutions & Building Services Limited, (a company owned by the directors, S Massey and C Wright ). At 30 April 2020 £51,320 (2019 £56,847) was outstanding and included in creditors in these financial statements. Dividends of £188,887 ( 2019 £153,195) were paid to the directors during the year.