Trojan Paving Limited,Ltd - AccountsLtd - Accounts

Trojan Paving Limited,Ltd - AccountsLtd - Accounts

TROJAN PAVING LIMITED - Company Information

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2019-04-01 05848307 2020-03-31 05848307 2019-04-01 2020-03-31 05848307 uk-bus:RegisteredOffice 2019-04-01 2020-03-31 05848307 uk-bus:Director1 2019-04-01 2020-03-31 05848307 uk-bus:Director1 2020-03-31 05848307 uk-bus:Director2 2019-04-01 2020-03-31 05848307 uk-bus:Director2 2020-03-31 05848307 uk-bus:Director3 2019-04-01 2020-03-31 05848307 uk-bus:Director3 2020-03-31 05848307 2019-03-31 05848307 2018-04-01 2019-03-31 05848307 uk-core:WithinOneYear 2019-03-31 05848307 uk-core:WithinOneYear 2020-03-31 05848307 uk-core:AfterOneYear 2019-03-31 05848307 uk-core:AfterOneYear 2020-03-31 05848307 uk-core:ShareCapital 2020-03-31 05848307 uk-core:ShareCapital 2019-03-31 05848307 uk-core:RetainedEarningsAccumulatedLosses 2020-03-31 05848307 uk-core:RetainedEarningsAccumulatedLosses 2019-03-31 05848307 uk-core:OtherMiscellaneousReserve 2020-03-31 05848307 uk-core:MotorVehicles 2019-04-01 2020-03-31 05848307 uk-core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 05848307 uk-core:FurnitureFittingsToolsEquipment 2019-03-31 05848307 uk-core:MotorVehicles 2019-03-31 05848307 uk-core:MotorVehicles 2020-03-31 05848307 uk-core:FurnitureFittingsToolsEquipment 2020-03-31 05848307 uk-core:WithinOneYear 2019-04-01 2020-03-31 05848307 1 uk-bus:Director1 2019-04-01 2020-03-31 05848307 1 uk-bus:Director1 2020-03-31 05848307 1 uk-bus:Director1 2019-03-31 05848307 3 uk-bus:Director3 2019-04-01 2020-03-31 05848307 3 uk-bus:Director3 2020-03-31 05848307 3 uk-bus:Director3 2019-03-31 05848307 4 uk-bus:Director2 2019-04-01 2020-03-31 05848307 4 uk-bus:Director2 2020-03-31 05848307 4 uk-bus:Director2 2019-03-31 iso4217:GBP xbrli:pure 05848307 uk-bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 05848307 uk-bus:FRS102 2019-04-01 2020-03-31 05848307 uk-bus:FullAccounts 2019-04-01 2020-03-31 05848307 uk-bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31
Trojan Paving Limited
Registered Number:05848307
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2020
Trojan Paving Limited
Contents Page
Company Information
1
2
Directors' Report
3
Chartered Accountants' Report
4
Income Statement
5
Statement of Financial Position
6 to 9
Notes to the Financial Statements
3
For the year ended 31 March 2020
Trojan Paving Limited
Company Information
F C Champion
Directors
M V Caers
P Hurford
P Hurford
Company Secretary
05848307
Registered Number
Doublebois Industrial Estate
Registered Office
Doublebois
Liskeard
Cornwall
PL14 6LE
Turnbull & Co Accountants Limited
Accountants
Chartered Accountants
Pilgrim House
Oxford Place
Plymouth
PL1 5AJ
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4
For the year ended 31 March 2020
Trojan Paving Limited
Directors' Report
The directors present their report and financial statements for the year ended 31 March 2020.
Principal activities
The principal activity of the company continued to be that of pavers. Directors Responsibilities Company law requires the directors to prepare financial statements for each financial year which give a true and fair view. In preparing those financial statements, the directors are required to: Select suitable accounting policies and then apply them on a consistent basis, making judgements and estimates that are prudent and reasonable; State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; Prepare the financial statements on the going concern basis unless it is not appropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records, for safeguarding the assets of the company, and for taking reasonable steps for the prevention and detection of fraud and other irregularitites.
Directors
The directors who served the company throughout the year were as follows:
F C Champion
M V Caers
P Hurford
P Hurford
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
21 October 2020
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5
For the year ended 31 March 2020
Trojan Paving Limited
Chartered Accountants' Report
Chartered Accountants' report to the Directors on the preparation of the unaudited statutory accounts of
Trojan Paving Limited for the year ended 31 March 2020
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts
of Trojan Paving Limited for the year ended 31 March 2020 which comprise the Income Statement, the Statement of
Financial Position and the related notes from the company's accounting records and from information and
explanations you have given us.
As a practising firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its
ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Trojan Paving Limited, as a body, in accordance with the terms
of our engagement letter dated 16 May 2014. Our work has been undertaken solely to prepare for your approval the
accounts of Trojan Paving Limited and state those matters that we have agreed to state to the Board of Directors of
Trojan Paving Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To
the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trojan Paving
Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Trojan Paving Limited has kept adequate accounting records to prepare statutory
accounts that give a true and fair view of the assets, liabilities, financial position and profit of Trojan Paving Limited.
You consider that Trojan Paving Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Trojan Paving Limited. For this
reason, we have not verified the accuracy or completeness of the accounting records or information and explanations
you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Turnbull & Co Accountants Limited
Chartered Accountants
Pilgrim House
Oxford Place
Plymouth
PL1 5AJ
Date:
21 October 2020
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6
For the year ended 31 March 2020
Trojan Paving Limited
Income Statement
2019
£
2020
£
Turnover
1,424,350
1,274,272
(1,059,445)
Cost of sales
(1,245,109)
214,827
Gross profit
179,241
Administrative expenses
(78,887)
(79,413)
Operating profit
100,354
135,414
Interest payable and similar charges
(498)
(457)
99,856
134,957
Profit before taxation
(19,553)
(26,392)
Taxation
80,303
Profit for the financial year
108,565
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7
As at 31 March 2020
Trojan Paving Limited
Statement of Financial Position
Registered Number :
05848307
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
23,387
31,353
2
23,387
31,353
Current assets
Inventories
18,740
43,700
3
Trade and other receivables
278,098
280,646
4
47,955
Cash and cash equivalents
50,153
374,499
344,793
Trade and other payables: amounts falling due within one
year
(175,963)
(220,402)
5
168,830
154,097
Net current assets
Total assets less current liabilities
177,484
200,183
Trade and other payables: amounts falling due after more
than one year
(8,164)
(5,475)
6
(4,444)
(5,957)
Provisions for liabilities
167,565
Net assets
186,062
Capital and reserves
Called up share capital
200
200
Retained earnings
167,363
185,860
Other reserves
2
2
167,565
186,062
Shareholders' funds
For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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 in accordance with the provisions applicable to companies subject to the small companies regime.
P Hurford
These financial statements were approved and authorised for issue by the Board on 21 October 2020 and were signed by:
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8
For the year ended 31 March 2020
Trojan Paving Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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9
For the year ended 31 March 2020
Trojan Paving Limited
Notes to the Financial Statements
Statutory Information
Trojan Paving Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 05848307.
Registered address:
Doublebois Industrial Estate
Doublebois
Liskeard
Cornwall
PL14 6LE
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention.
Revenue recognition
Turnover represents income from the provision of paving services at invoice value, net of value added tax.
Property, plant and equipment
Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Motor vehicles
25% Reducing balance
Equipment
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs at purchase invoice price.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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10
For the year ended 31 March 2020
Trojan Paving Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Equipment
Motor vehicles
£
£
£
Cost or
valuation
At 01 April 2019
47,719
10,479
37,240
(1,352)
-
Disposals
(1,352)
At 31 March 2020
37,240
9,127
46,367
Provision for depreciation and impairment
At 01 April 2019
16,366
7,056
9,310
Charge for year
7,796
813
6,983
(1,182)
(1,182)
-
On disposal
At 31 March 2020
22,980
6,687
16,293
At 31 March 2020
Net book value
20,947
2,440
23,387
At 31 March 2019
27,930
3,423
31,353
3. Inventories
2019
2020
£
£
Stocks
43,700
18,740
4. Trade and other receivables
2019
2020
£
£
Trade debtors
264,998
258,617
Other debtors
15,648
19,481
278,098
280,646
5. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Trade creditors
167,565
124,463
Taxation and social security
24,786
25,364
Other creditors
28,051
26,136
220,402
175,963
Included within taxation and social security is corporation tax of £21,066 (2019: £22,778).
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For the year ended 31 March 2020
Trojan Paving Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2019
2020
£
£
Other creditors
5,475
8,164
7. Related party transactions
Dividends of £98,800 were paid to the directors in the year.
The company is under the effective control of its directors.
8. Directors advances and guarantees
At 01/04/2019
Loaned
At 31/03/2020
£
£
£
F C Champion
Directors loan
(90)
(90)
-
(90)
(90)
-
P Hurford
Directors loan
(7)
(52)
45
(7)
(52)
45
M V Caers
Directors loan
(18)
(18)
-
(18)
(18)
-
9. Average number of persons employed
During the year the average number of employees was 2 (2019 : 2)
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