TDS Southern Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05284938 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

FOR

TECHNICAL & DEVELOPMENT SERVICES

(SOUTHERN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Farrow

R S Bishop

S P Lepine

REGISTERED OFFICE:

Venture Court

2 Debdale Road

Wellingborough

Northamptonshire

NN8 5AA

REGISTERED NUMBER:

05284938 (England and Wales)

ACCOUNTANTS:

ISIS Business Solutions (Northants) LLP

Venture Court

2 Debdale Road

Wellingborough

Northamptonshire

NN8 5AA

FIXED ASSETS

Tangible assets

4

2,284

2,679

CURRENT ASSETS

Debtors

5

408,622

474,885

Cash at bank and in hand

324,169

265,178

732,791

740,063

CREDITORS

Amounts falling due within one year

6

110,864

131,118

NET CURRENT ASSETS

621,927

608,945

TOTAL ASSETS LESS CURRENT LIABILITIES

624,211

611,624

PROVISIONS FOR LIABILITIES

293

429

NET ASSETS

623,918

611,195

CAPITAL AND RESERVES

Called up share capital

83

83

Capital redemption reserve

7

193,517

193,517

Retained earnings

7

430,318

417,595

SHAREHOLDERS' FUNDS

623,918

611,195

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th November 2021 and were signed on its behalf by:

R Farrow - Director

R S Bishop - Director

1.	STATUTORY INFORMATION

Technical & Development Services (Southern) 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

The company`s turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year. None of the company`s turnover relates to exports.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% 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.

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.

Trust

The Company has created a trust whose beneficiaries will include employees of the Company and their dependents. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion.

Where assets are held in the trust and these are considered by the Company to be in respect of services already provided by employees to the Company, the Company will account for these assets of the Company until the earlier of it no longer having de facto control of these assets and it not obtaining any future economic benefit from these assets. The value transferred will be charged in the Company's profit and loss account for the year which it relates.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2020

24,437

66,054

90,491

Additions

-

1,241

1,241

At 31st March 2021

24,437

67,295

91,732

DEPRECIATION

At 1st April 2020

23,975

63,837

87,812

Charge for year

251

1,385

1,636

At 31st March 2021

24,226

65,222

89,448

NET BOOK VALUE

At 31st March 2021

211

2,073

2,284

At 31st March 2020

462

2,217

2,679

5.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

162,888

265,908

Other debtors

54,169

17,412

217,057

283,320

Amounts falling due after more than one year:

Other debtors

191,565

191,565

Aggregate amounts

408,622

474,885

Debtors, amounts falling due after more than one year are assets held in trust considered by the Company to be in respect of services already provided by employees of the Company. The Company will account for these as assets until the earlier of it no longer having de facto control or it no longer being able to obtain future economical benefits.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

32,841

4,690

Taxation and social security

70,848

119,232

Other creditors

7,175

7,196

110,864

131,118

7.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1st April 2020

417,595

193,517

611,112

Profit for the year

60,723

60,723

Dividends

(48,000

)

(48,000

)

At 31st March 2021

430,318

193,517

623,835

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £24,000 (2020 - £53,520) were paid to the directors .

During the year, the company entered into transactions with related parties namely other members of the Technical & Development Group. All transactions were carried out at arms length.

During the year the Company paid consultancy fees amounting to £15,020 to Technical & Development Services Partners LLP and £46,500 to Technical & Development Services Ltd.

At the balance sheet date there were no outstanding balances relating to related party transactions;