TLF Services Limited - Accounts to registrar (filleted) - small 18.2

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

TLF SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A Kemp

SECRETARY:

M J R Morris

REGISTERED OFFICE:

The Lorry Yard

Dykes Farm Bungalow

Ewhurst Green

Robertsbridge

East Sussex

TN32 5RJ

REGISTERED NUMBER:

09886183 (England and Wales)

ACCOUNTANTS:

Radmor Accountancy Services Limited

Nethergers

Church Lane

Robertsbridge

East Sussex

TN32 5PH

FIXED ASSETS

Intangible assets

4

45,000

45,000

Tangible assets

5

68,340

41,465

113,340

86,465

CURRENT ASSETS

Debtors

6

358,914

368,122

Cash at bank

11,976

6,403

370,890

374,525

CREDITORS

Amounts falling due within one year

7

142,428

226,555

NET CURRENT ASSETS

228,462

147,970

TOTAL ASSETS LESS CURRENT LIABILITIES

341,802

234,435

PROVISIONS FOR LIABILITIES

13,668

-

NET ASSETS

328,134

234,435

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

328,034

234,335

12

328,134

234,435

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2021 and were signed by:

J A Kemp - Director

1.	STATUTORY INFORMATION

TLF 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.

Goodwill

The value of goodwill, being the amount paid in connection with the acquisition of a business in 2015, is reviewed each year and an amortisation charge has not been made in this period. In the opinion of the director the value has not reduced..

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 cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

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.

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 4 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

50,000

AMORTISATION

At 1 April 2020

and 31 March 2021

5,000

NET BOOK VALUE

At 31 March 2021

45,000

At 31 March 2020

45,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2020

74,504

680

7,917

6,418

89,519

Additions

51,566

150

695

3,668

56,079

At 31 March 2021

126,070

830

8,612

10,086

145,598

DEPRECIATION

At 1 April 2020

40,583

656

1,584

5,231

48,054

Charge for year

25,757

61

1,722

1,664

29,204

At 31 March 2021

66,340

717

3,306

6,895

77,258

NET BOOK VALUE

At 31 March 2021

59,730

113

5,306

3,191

68,340

At 31 March 2020

33,921

24

6,333

1,187

41,465

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

190,703

270,762

Other debtors

168,211

97,360

358,914

368,122

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

39,653

Hire purchase contracts (see note 8)

5,440

-

Trade creditors

9,923

22,004

Taxation and social security

66,276

109,269

Other creditors

60,789

55,629

142,428

226,555

8.	LEASING AGREEMENTS

The company has entered into lease commitments with instalments due over the next twelve months of £113,484.

9.	RELATED PARTY DISCLOSURES

At the year end the company was owed £4,848 by the director Mr Kemp (2020 - owed to Mr Kemp £47,330).

10.	POST BALANCE SHEET EVENTS

There have been no significant Post Balance Sheet Events.

11.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is shareholder and director Mr James A Kemp.

12.	RECONCILIATION OF MOVEMENTS IN RESERVES

2021

2020

£

£

Profit for the financial year

158,699

122,305

Dividends

(65,000

)

(50,000

)

Net addition to reserves

93,699

72,305

Opening reserves

234,435

162,130

Closing reserves

328,134

234,435