Technical Recovery Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08631357 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2021

for

TECHNICAL RECOVERY SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

K D Lees

K Lees

A J H Collier

D Casey

Registered office:

Unit 20 Haydock Lane

St Helens

Merseyside

WA119UY

Registered number:

08631357 (England and Wales)

Accountants:

NR Barton

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Tangible assets

4

49,890

59,313

CURRENT ASSETS

Debtors

5

179,597

273,099

Cash at bank

12,874

46,285

192,471

319,384

CREDITORS

Amounts falling due within one year

6

189,440

233,996

NET CURRENT ASSETS

3,031

85,388

TOTAL ASSETS LESS CURRENT LIABILITIES

52,921

144,701

PROVISIONS FOR LIABILITIES

7

9,479

10,355

NET ASSETS

43,442

134,346

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

43,242

134,146

SHAREHOLDERS' FUNDS

43,442

134,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2022 and were signed on its behalf by:

K D Lees - Director

1.	STATUTORY INFORMATION

Technical Recovery Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Improvements to property

-

Straight line over the life of the lease

Plant and machinery

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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 2 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 August 2020

and 31 July 2021

16,711

136,787

1,389

154,887

DEPRECIATION

At 1 August 2020

12,110

82,435

1,029

95,574

Charge for year

1,150

8,153

120

9,423

At 31 July 2021

13,260

90,588

1,149

104,997

NET BOOK VALUE

At 31 July 2021

3,451

46,199

240

49,890

At 31 July 2020

4,601

54,352

360

59,313

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

26,291

49,793

Amounts owed by connected parties

153,106

223,106

Other debtors

200

200

179,597

273,099

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade creditors

42,211

92,250

Amounts owed to connected parties

-

31,380

Taxation and social security

77,229

87,866

Other creditors

70,000

22,500

189,440

233,996

7.	PROVISIONS FOR LIABILITIES

31.7.21

31.7.20

£

£

Deferred tax

9,479

10,355

Deferred

tax

£

Balance at 1 August 2020

10,355

Utilised during year

(876

)

Balance at 31 July 2021

9,479

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.21

31.7.20

value:

£

£

200

Ordinary

£1

200

200

9.

COVID-19

The directors have reviewed the company's forecasts and projections and, in particular, have considered the potential implications of the Coronavirus (COVID-19) pandemic.

The company has accessed government support during the pandemic.

Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the directors are confident that it will continue to have a minimal impact on the company and that it will remain operational throughout the pandemic.