Thames Covers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09060812 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2020

FOR

THAMES COVERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W A Felton

REGISTERED OFFICE:

26 Stroudwater Park

Weybridge

Surrey

KT13 0DT

REGISTERED NUMBER:

09060812 (England and Wales)

ACCOUNTANTS:

H & E Johnson

Chartered Accountants

Sandall House

230 High Street

Herne Bay

Kent

CT6 5AX

FIXED ASSETS

Intangible assets

4

20,000

22,500

CURRENT ASSETS

Stocks

-

4,260

Debtors

5

36,488

7,951

Cash at bank

37,087

20

73,575

12,231

CREDITORS

Amounts falling due within one year

6

36,212

31,192

NET CURRENT ASSETS/(LIABILITIES)

37,363

(18,961

)

TOTAL ASSETS LESS CURRENT LIABILITIES

57,363

3,539

CREDITORS

Amounts falling due after more than one year

7

56,500

-

NET ASSETS

863

3,539

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

862

3,538

863

3,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 September 2020 and were signed by:

W A Felton - Director

1.	STATUTORY INFORMATION

The company's usual place of business is The Boathouse, Sandhills Meadow, Shepperton, TW17 9HY.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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

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 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2019

and 31 May 2020

25,000

AMORTISATION

At 1 June 2019

2,500

Charge for year

2,500

At 31 May 2020

5,000

NET BOOK VALUE

At 31 May 2020

20,000

At 31 May 2019

22,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

3,837

7,804

Other debtors

32,651

147

36,488

7,951

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

3,160

Trade creditors

17,393

19,367

Taxation and social security

11,169

6,513

Other creditors

7,650

2,152

36,212

31,192

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

50,000

-

Other creditors

6,500

-

56,500

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

10,000

-