Total Contractors Limited Filleted accounts for Companies House (small and micro)

TOTAL CONTRACTORS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10425090

TOTAL CONTRACTORS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2020

TOTAL CONTRACTORS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2020

	2020	2019
Note	£	£

Current assets

Debtors	5	335,637	356,470
Cash at bank and in hand		16,092	17,209
		----------	----------
		351,729	373,679

Creditors: amounts falling due within one year	6	346,865	342,703
		----------	----------
Net current assets		4,864	30,976
		-------	---------
Total assets less current liabilities		4,864	30,976
		-------	---------
Net assets		4,864	30,976
		-------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	4,863	30,975
	-------	---------
Shareholders funds	4,864	30,976
	-------	---------

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 statement of income and retained earnings has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

TOTAL CONTRACTORS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 16 August 2021 , and are signed on behalf of the board by:

Mr S Wenham
Director

Company registration number: 10425090

TOTAL CONTRACTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Western Road, Hove, East Sussex, BN31FA.

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 COVID-19 pandemic continues to have a minimal impact on the company's finances after the year end, and its rental income for the year ended 31st December 2021 is not expected to decrease significantly. Social distancing measures have not significantly impacted the company. The directors have confirmed that, in their opinion, the pandemic will not affect the company's ability to continue in business as a going concern for the foreseeable future.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2019: 1 ).

5. Debtors

	2020	2019
	£	£
Other debtors	335,637	356,470
	----------	----------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Accruals and deferred income	1,325	1,175
Corporation tax	27	–
Social security and other taxes	3,418	5,146
Other creditors	342,095	336,382
	----------	----------
	346,865	342,703
	----------	----------

7. Related party transactions

Other debtors also includes amounts owed by companies under common control totalling £327,917 (2019 £320,917). Other creditors includes amounts owed to companies under common control totalling £342,095 (2019 £336,382).

8. Controlling party

The company is under the control of Widegate Limited.