Transgas Services Heating & Plumbing Lim - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08276780

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Transgas Services Heating & Plumbing

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Halliwell

Mrs. S E Halliwell

SECRETARY:

REGISTERED OFFICE:

22 Akerman Road

Surbiton

Surrey

KT6 5NS

REGISTERED NUMBER:

08276780

ACCOUNTANTS:

WHITTINGTONS

Chartered Accountants

1 High Street

Guildford

Surrey

GU2 4HP

FIXED ASSETS

Intangible assets

4

60,000

65,000

Tangible assets

5

83,916

58,663

143,916

123,663

CURRENT ASSETS

Stocks

6

30,000

30,000

Debtors

7

63,394

82,308

Cash at bank and in hand

66,286

12,758

159,680

125,066

CREDITORS

Amounts falling due within one year

8

239,713

235,744

NET CURRENT LIABILITIES

(80,033

)

(110,678

)

TOTAL ASSETS LESS CURRENT LIABILITIES

63,883

12,985

CREDITORS

Amounts falling due after more than one year

9

(40,000

)

-

PROVISIONS FOR LIABILITIES

11

(15,944

)

(10,754

)

NET ASSETS

7,939

2,231

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

7,739

2,031

SHAREHOLDERS' FUNDS

7,939

2,231

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 30 December 2021 and were signed on its behalf by:

J M Halliwell - Director

1.	STATUTORY INFORMATION

Transgas Services Heating & Plumbing Limited is a private company, limited by shares , registered in Not specified/Other. 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risk and rewards of ownership have transferred to the buyer, usually on dispatch 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

50% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

100,000

AMORTISATION

At 1 April 2020

35,000

Amortisation for year

5,000

At 31 March 2021

40,000

NET BOOK VALUE

At 31 March 2021

60,000

At 31 March 2020

65,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2020

2,940

6,390

8,674

185,927

203,931

Additions

-

208

514

65,355

66,077

Disposals

-

-

-

(47,802

)

(47,802

)

At 31 March 2021

2,940

6,598

9,188

203,480

222,206

DEPRECIATION

At 1 April 2020

1,960

5,945

5,183

132,180

145,268

Charge for year

980

335

2,436

36,516

40,267

Eliminated on disposal

-

-

-

(47,245

)

(47,245

)

At 31 March 2021

2,940

6,280

7,619

121,451

138,290

NET BOOK VALUE

At 31 March 2021

-

318

1,569

82,029

83,916

At 31 March 2020

980

445

3,491

53,747

58,663

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST

At 1 April 2020

22,304

Transfer to ownership

(22,304

)

At 31 March 2021

-

DEPRECIATION

At 1 April 2020

22,304

Transfer to ownership

(22,304

)

At 31 March 2021

-

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

6.

STOCKS

31.3.21

31.3.20

£

£

Stocks

30,000

30,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

46,460

66,193

Other debtors

16,934

16,115

63,394

82,308

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

10,000

-

Trade creditors

98,394

86,985

Taxation and social security

113,165

54,105

Other creditors

18,154

94,654

239,713

235,744

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

40,000

-

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.21

31.3.20

£

£

Within one year

18,000

18,000

Between one and five years

16,500

16,500

34,500

34,500

11.	PROVISIONS FOR LIABILITIES

31.3.21

31.3.20

£

£

Deferred tax

15,944

10,754

Deferred

tax

£

Balance at 1 April 2020

10,754

Provided during year

5,190

Transfers

Balance at 31 March 2021

15,944

12.	ULTIMATE CONTROLLING PARTY

During the year under review the company was under the joint control of its directors.