TSA Surveying Limited Filleted accounts for Companies House (small and micro)

TSA Surveying Limited Filleted accounts for Companies House (small and micro)

TSA SURVEYING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12856920
TSA Surveying Limited
Filleted unaudited financial statements
31 December 2021
TSA Surveying Limited
Financial statements
period from 3 September 2020 to 31 December 2021
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
TSA Surveying Limited
Statement of financial position
31 December 2021
31 Dec 21
Note
£
£
Fixed assets
Tangible assets
5
3,316
Current assets
Debtors
6
957,614
Cash at bank and in hand
11,467
---------
969,081
Creditors: amounts falling due within one year
7
( 542,334)
---------
Net current assets
426,747
---------
Total assets less current liabilities
430,063
---------
Net assets
430,063
---------
Capital and reserves
Called up share capital
100,000
Profit and loss account
330,063
---------
Shareholders funds
430,063
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 February 2022 , and are signed on behalf of the board by:
Mr M G Warburton
Director
Company registration number: 12856920
TSA Surveying Limited
Notes to the financial statements
period from 3 September 2020 to 31 December 2021
1. General information
The principal activity of the company during the year was that of temporary employment agency activities. The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Airedale House, Kirkstall Road, Leeds, LS4 2EW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In arriving at this conclusion, the directors have given due consideration to the impact of the worldwide Covid-19 pandemic on future operations and the ability of the company to continue to operate as a going concern. The directors recognise that the situation remains highly fluid and as a result making accurate forecasts on the likely implications is difficult but the directors do recognise that trading over the coming months could potentially be adversely affected. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or liability is recognised only when the entity becomes party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitute a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 8 .
5. Tangible assets
Equipment
£
Cost
At 3 September 2020
–
Additions
4,350
------
At 31 December 2021
4,350
------
Depreciation
At 3 September 2020
–
Charge for the period
1,034
------
At 31 December 2021
1,034
------
Carrying amount
At 31 December 2021
3,316
------
6. Debtors
31 Dec 21
£
Trade debtors
800,202
Other debtors
157,412
---------
957,614
---------
7. Creditors: amounts falling due within one year
31 Dec 21
£
Bank loans and overdrafts
138,705
Trade creditors
3,031
Social security and other taxes
269,555
Other creditors
131,043
---------
542,334
---------