Thanet Commercials Limited 31/03/2022 iXBRL
Thanet Commercials Limited 31/03/2022 iXBRL
Company registration number:
04501907
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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100 High Street | ||
Whitstable | ||
Kent | ||
CT5 1AZ | ||
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Thanet Commercials Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thanet Commercials Limited for the year ended 31 March 2022 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Thanet Commercials Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Thanet Commercials Limited and state those matters that we have agreed to state to the board of directors of Thanet Commercials Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thanet Commercials Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Thanet Commercials Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thanet Commercials Limited. You consider that Thanet Commercials 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 financial statements of Thanet Commercials 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 financial statements.
Chartered Certified Accountants
100 High Street
Whitstable
Kent
CT5 1AZ
24 October 2022
Statement of financial position
31 March 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 | - | - | ||||||
Tangible assets | 6 |
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Current assets | |||||||||
Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 9 |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 October 2022
, and are signed on behalf of the board by:
Director
Director
Company registration number:
04501907
Notes to the financial statements
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Uint 12 Hornet Close, Pysons Road Industrial Estate, Broadstairs, Kent, CT10 2YD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Operating leases
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise | - |
Over
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
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:
Plant and machinery | - |
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Fittings fixtures and equipment | - |
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Motor vehicles | - |
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Impairment
Government grants
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2021:
8
).
5.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 April 2021 and 31 March 2022 |
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Amortisation | |||
At 1 April 2021 and 31 March 2022 |
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Carrying amount | |||
At 31 March 2022 | - | - | |
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At 31 March 2021 | - | - | |
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6.
Tangible assets
Short leasehold property | Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | £ | ||
Cost | ||||||
At 1 April 2021 |
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Disposals | - | - | - |
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At 31 March 2022 |
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Depreciation | ||||||
At 1 April 2021 |
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Charge for the year |
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Disposals | - | - | - |
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At 31 March 2022 |
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Carrying amount | ||||||
At 31 March 2022 |
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At 31 March 2021 |
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7.
Debtors
2022 | 2021 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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8.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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HSBC Bank Plc hold a fixed and floating charges over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital, buildings, fixtures, fixed plant and machinery dated 16 September 2002.
9.
Creditors: amounts falling due after more than one year
2022 | 2021 | |||
£ | £ | |||
Bank loans and overdrafts |
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10.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
2022 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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2021 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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(36,297) | |
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38,983 | |
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