TSquared E1 Ltd - Accounts to registrar (filleted) - small 18.2
TSquared E1 Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements For The Year Ended 31 March 2021 |
| for |
| TSQUARED E1 LTD |
| TSQUARED E1 LTD (REGISTERED NUMBER: SC413628) |
| Contents of the Financial Statements |
| For The Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| TSQUARED E1 LTD |
| Company Information |
| For The Year Ended 31 March 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditor |
| 29 Brandon Street |
| Hamilton |
| ML3 6DA |
| BANKERS: |
| 41 Princes Mall |
| East Kilbride |
| G74 1LS |
| TSQUARED E1 LTD (REGISTERED NUMBER: SC413628) |
| Balance Sheet |
| 31 March 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 |
| TSQUARED E1 LTD (REGISTERED NUMBER: SC413628) |
| Notes to the Financial Statements |
| For The Year Ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| TSquared E1 Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is derived from the various activities of the company operating as a contractor providing specialist design and construction services. |
| Turnover therefore represents the fair value of work done and service supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration. |
| Grants |
| Grants which are considered to be revenue in nature are credited to the profit and loss account in the period to which they relate. Grants of a capital nature are reflected as deferred income in the balance sheet and released to the profit and loss account over the estimated useful life of the assets to which they relate. |
| Stocks |
| Long term contracts are stated at net cost less foreseeable losses less any applicable payments on account. The amount recorded as turnover in respect of long term contracts is ascertained by reference to the value of the work carried out to date. Attributable profit is recognised as the difference between recorded turnover and related costs. |
| 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. |
| TSQUARED E1 LTD (REGISTERED NUMBER: SC413628) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | STOCKS |
| 2021 | 2020 |
| £ | £ |
| Long term contracts | 27,790 | 30,816 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Payments on account |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | RELATED PARTY DISCLOSURES |
| The company operates a loan account with its parent company, TSquared Group Ltd. This loan is unsecured, interest free and has no fixed repayment term. At the year end the company was owed £708,572 (2020 - £95,874) by TSquared Group Ltd. |
| TSQUARED E1 LTD (REGISTERED NUMBER: SC413628) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2021 |
| 10. | CONTROLLING PARTY |
| The controlling party is TSquared Group Ltd. |
| The company is a subsidiary of TSquared Group Ltd, a UK registered company, which prepares consolidated financial statements and has the same registered office address. |