TSquared E1 Ltd - Accounts to registrar (filleted) - small 18.2

TSquared E1 Ltd - Accounts to registrar (filleted) - small 18.2

T-SQUARED E1 LTD - Company Information

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REGISTERED NUMBER: SC413628 (Scotland)















Financial Statements for the Year Ended 31 March 2022

for

TSQUARED E1 LTD
TSQUARED E1 LTD (REGISTERED NUMBER: SC413628)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TSQUARED E1 LTD

Company Information
for the Year Ended 31 March 2022







DIRECTORS: G Malcolm
A Simpson
D Callan
C A Paterson
P Haddock



SECRETARY: M McFarlane



REGISTERED OFFICE: Optimus Building
2 Robroyston Oval
Nova Technology Park
Glasgow
G33 1AP



REGISTERED NUMBER: SC413628 (Scotland)



AUDITORS: Sharles Audit Limited
Statutory Auditor
29 Brandon Street
Hamilton
ML3 6DA



BANKERS: Bank of Scotland
41 Princes Mall
East Kilbride
G74 1LS
Page 1
TSQUARED E1 LTD (REGISTERED NUMBER: SC413628)

Balance Sheet
31 March 2022

31/3/22 31/3/21
Notes £    £   
CURRENT ASSETS
Stocks 5 62,750 27,790
Debtors 6 996,116 843,391
Cash at bank 1,393,650 519,668
2,452,516 1,390,849
CREDITORS
Amounts falling due within one year 7 1,892,983 857,645
NET CURRENT ASSETS 559,533 533,204
TOTAL ASSETS LESS CURRENT
LIABILITIES
559,533
533,204

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 558,533 532,204
SHAREHOLDERS' FUNDS 559,533 533,204

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 Board of Directors and authorised for issue on 27 July 2022 and were signed on its behalf by:





A Simpson - Director


The notes form part of these financial statements

Page 2
TSQUARED E1 LTD (REGISTERED NUMBER: SC413628)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

TSquared E1 Ltd is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from the various activities of the company operating as a contractor providing specialist design and construction services.

Turnover therefore represents the fair value of work done and service supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Stocks
Long term contracts are stated at net cost less foreseeable losses less any applicable payments on account. The amount recorded as turnover in respect of long term contracts is ascertained by reference to the value of the work carried out to date. Attributable profit is recognised as the difference between recorded turnover and related costs.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Page 3 continued...
TSQUARED E1 LTD (REGISTERED NUMBER: SC413628)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 8 ) .

5. STOCKS
31/3/22 31/3/21
£    £   
Long term contracts 62,750 27,790

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Trade debtors 994,216 132,919
Amounts owed by group undertakings - 708,572
Other debtors 1,900 1,900
996,116 843,391

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Payments on account 1,018,131 403,162
Trade creditors 372,666 137,997
Amounts owed to group undertakings 83,153 -
Taxation and social security 341,034 278,964
Other creditors 77,999 37,522
1,892,983 857,645

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Keith Edwards (Senior Statutory Auditor)
for and on behalf of Sharles Audit Limited

9. RELATED PARTY DISCLOSURES

The company operates a loan account with its parent company, TSquared Group Ltd. This loan is unsecured, interest free and has no fixed repayment term. At the year end the company was owed £83,153 (2021 - £708,572) by TSquared Group Ltd.

10. CONTROLLING PARTY

The controlling party is TSquared Group Ltd.

The company is a subsidiary of TSquared Group Ltd, a UK registered company, which prepares consolidated financial statements and has the same registered office address.

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