Tangerine Anvil Limited - Limited company accounts 20.1

REGISTERED NUMBER: 04380244 (England and Wales)

Report of the Directors and

Unaudited Consolidated Financial Statements for the Year Ended 30 June 2021

for

TANGERINE ANVIL LIMITED

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

7

DIRECTORS:

Mr M J Hicklin

Mr M Probert

SECRETARY:

Mr M J Hicklin

REGISTERED OFFICE:

1st Floor

30 Church Road

Burgess Hill

West Sussex

RH15 9AE

REGISTERED NUMBER:

04380244 (England and Wales)

ACCOUNTANTS:

MMP Accounting Solutions Ltd

1st Floor

30 Church Road

Burgess Hill

West Sussex

RH15 9AE

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2020 to the date of this report.

Mr M J Hicklin

Mr M Probert

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr M J Hicklin - Director

18 January 2022

TURNOVER

1,084,995

765,944

Cost of sales

437,428

68,462

GROSS PROFIT

647,567

697,482

Administrative expenses

490,174

563,913

157,393

133,569

Other operating income

21,741

33,788

OPERATING PROFIT

4

179,134

167,357

Interest payable and similar expenses

-

(37

)

PROFIT BEFORE TAXATION

179,134

167,394

Tax on profit

19,458

31,492

PROFIT FOR THE FINANCIAL YEAR

159,676

135,902

Profit attributable to:

Owners of the parent

159,676

135,902

FIXED ASSETS

Tangible assets

6

1,596

3,208

Investments

7

511

511

2,107

3,719

CURRENT ASSETS

Debtors

8

168,182

93,406

Cash at bank

62,781

96,179

230,963

189,585

CREDITORS

Amounts falling due within one year

9

203,822

193,731

NET CURRENT ASSETS/(LIABILITIES)

27,141

(4,146

)

TOTAL ASSETS LESS CURRENT LIABILITIES

29,248

(427

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

29,371

(304

)

29,471

(204

)

NON-CONTROLLING INTERESTS

10

(223

)

(223

)

TOTAL EQUITY

29,248

(427

)

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2022 and were signed on its behalf by:

Mr M J Hicklin - Director

Mr M Probert - Director

FIXED ASSETS

Tangible assets

6

2

2

Investments

7

596

596

598

598

CURRENT ASSETS

Debtors

8

238,498

311,555

Cash at bank

237

260

238,735

311,815

CREDITORS

Amounts falling due within one year

9

203,254

307,692

NET CURRENT ASSETS

35,481

4,123

TOTAL ASSETS LESS CURRENT LIABILITIES

36,079

4,721

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

35,979

4,621

36,079

4,721

Company's profit for the financial year

161,358

136,301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2022 and were signed on its behalf by:

Mr M J Hicklin - Director

Mr M Probert - Director

1.	STATUTORY INFORMATION

Tangerine Anvil Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group'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 12 (2020 - 13)

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.6.21

30.6.20

£

£

Depreciation - owned assets

1,749

1,926

5.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	TANGIBLE FIXED ASSETS

Group

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2020

18,391

33,574

51,965

Additions

-

137

137

At 30 June 2021

18,391

33,711

52,102

DEPRECIATION

At 1 July 2020

18,391

30,366

48,757

Charge for year

-

1,749

1,749

At 30 June 2021

18,391

32,115

50,506

NET BOOK VALUE

At 30 June 2021

-

1,596

1,596

At 30 June 2020

-

3,208

3,208

Company

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

3,881

DEPRECIATION

At 1 July 2020

and 30 June 2021

3,879

NET BOOK VALUE

At 30 June 2021

2

At 30 June 2020

2

7.	FIXED ASSET INVESTMENTS

Group

Shares in

group

undertakings

£

COST

At 1 July 2020

and 30 June 2021

511

NET BOOK VALUE

At 30 June 2021

511

At 30 June 2020

511

Company

Shares in

group

undertakings

£

COST

At 1 July 2020

and 30 June 2021

596

NET BOOK VALUE

At 30 June 2021

596

At 30 June 2020

596

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

30.6.21

30.6.20

30.6.21

30.6.20

£

£

£

£

Trade debtors

165,419

85,658

-

-

Amounts owed by group undertakings

-

-

238,221

311,405

Other debtors

2,763

7,748

277

150

168,182

93,406

238,498

311,555

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

30.6.21

30.6.20

30.6.21

30.6.20

£

£

£

£

Trade creditors

14,134

7,755

13

484

Amounts owed to group undertakings

-

-

131,370

223,019

Taxation and social security

134,382

139,836

34,355

62,115

Other creditors

55,306

46,140

37,516

22,074

203,822

193,731

203,254

307,692

10.	NON-CONTROLLING INTERESTS

The group includes non-material non-controlling interests (NCI) via share capital ownership. The NCI has no voting rights and no income paid to them.

No dividends were paid to the NCI during the years 2021 and 2020.