TG Development Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06233749

Unaudited Financial Statements for the Year Ended 31 May 2020

for

TG Development Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Gordon

Mrs J Gordon

REGISTERED OFFICE:

Claybrook

17 Infield Road

Glatton

Huntingdon

PE28 5RP

REGISTERED NUMBER:

06233749

ACCOUNTANTS:

Brockhurst Davies Limited

11 The Office Village

North Road

Loughborough

Leicestershire

LE11 1QJ

FIXED ASSETS

Tangible assets

4

10,364

16,126

CURRENT ASSETS

Stocks

4,783

-

Debtors

114,782

13,170

Cash at bank

102,908

114,633

222,473

127,803

CREDITORS

Amounts falling due within one year

120,869

55,226

NET CURRENT ASSETS

101,604

72,577

TOTAL ASSETS LESS CURRENT LIABILITIES

111,968

88,703

CREDITORS

Amounts falling due after more than one year

40,000

-

NET ASSETS

71,968

88,703

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

71,868

88,603

71,968

88,703

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 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2020 and were signed on its behalf by:

Mrs J Gordon - Director

1.	STATUTORY INFORMATION

TG Development Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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

- 25% on reducing balance

Motor Vehicles

- 25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Basic financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2019

40,131

Disposals

(8,333

)

At 31 May 2020

31,798

DEPRECIATION

At 1 June 2019

24,005

Charge for year

3,455

Eliminated on disposal

(6,026

)

At 31 May 2020

21,434

NET BOOK VALUE

At 31 May 2020

10,364

At 31 May 2019

16,126