ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

TENNAL ROAD DEVELOPMENT LTD - Company Information

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Registered number: 11191177

TENNAL ROAD DEVELOPMENT LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2021

TENNAL ROAD DEVELOPMENT LTD

REGISTERED NUMBER: 11191177

BALANCE SHEET

AS AT 28 FEBRUARY 2021

	28 February	29 February
	2021	2020
Note	£	£

Fixed assets
Tangible assets	4		4,764		-
			4,764		-
Current assets
Stocks		1,543,473		1,015,504
Debtors: amounts falling due within one year	5	2,378		136
Cash at bank and in hand		2,405		421
		1,548,256		1,016,061
Creditors: amounts falling due within one year	6	(1,720,961)		(1,122,644)
Net current liabilities			(172,705)		(106,583)
Total assets less current liabilities			(167,941)		(106,583)

Net liabilities			(167,941)		(106,583)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(168,041)	(106,683)
		(167,941)	(106,583)

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TENNAL ROAD DEVELOPMENT LTD

REGISTERED NUMBER: 11191177

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 November 2021.

Ashok Kumar

Director

The notes on pages 3 to 6 form part of these financial statements.

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TENNAL ROAD DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

1.	General information

Tennal Road Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 11191177. The registered office is 43 Frederick Street, Birmingham, West Midlands, England, B1 3HN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

2.2

Going concern

The directors have prepared the accounts on a going concern basis.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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TENNAL ROAD DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

2.Accounting policies (continued)

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

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TENNAL ROAD DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	Additions	5,500
	At 28 February 2021	5,500
	Depreciation
	Charge for the year on owned assets	736
	At 28 February 2021	736
	Net book value
	At 28 February 2021	4,764

Debtors

					28 February	29 February
					2021	2020
					£	£


Other debtors	2,378	136
	2,378	136

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TENNAL ROAD DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

Bank loans	500,000	500,000
Trade creditors	48,109	3,360
Other creditors	1,171,222	618,484
Accruals and deferred income	1,630	800
	1,720,961	1,122,644


Bank loans	500,000	500,000
	500,000	500,000

Details of security provided:

Bank loans are secured by fixed and floating charges over the assets owned by the company in favour of Together Commercial Finance Limited.

Allotted, called up and fully paid

100 (2020 - 100) Ordinary shares of £1.00 each	100	100

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