TLC Building Contractors Limited
TLC Building Contractors Limited
Registered number: 8059466
Financial Statements
For The Year Ended
31 October 2021
Maurice Bland and Co Chartered Accountants
ICAEW
Turner Business Centre Greengate
Middleton
Manchester
Lancashire
M24 1RU
TLC Building Contractors Limited
Financial Statements
For The Year Ended
31 October 2021
Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
TLC Building Contractors Limited
Balance Sheet
As at
31 October 2021
Balance Sheet
Registered number:
8059466
For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2021 | 2020 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 7 |
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| CURRENT ASSETS | |||||
| Stocks | 8 |
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| Debtors | 9 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 10 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 85,373 | 85,155 | |||
TLC Building Contractors Limited
Balance Sheet (continued)
As at
31 October 2021
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
TLC Building Contractors Limited
Notes to the Financial Statements
For The Year Ended
31 October 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
4.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2021 | 2020 | ||
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| Office and administration |
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| Sales, marketing and distribution |
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TLC Building Contractors Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 October 2021
7.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
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| £ | £ | £ | |
| Cost | |||
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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8.
Stocks
| 2021 | 2020 | ||
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| £ | £ | ||
| Stock - materials and work in progress | 35,530 | 9,522 | |
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9.
Debtors
| 2021 | 2020 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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10.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| Other creditors |
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| Other creditors (1) |
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| Accruals and deferred income |
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| Director's loan account |
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TLC Building Contractors Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 October 2021
11.
Obligations Under Finance Leases and Hire Purchase
| 2021 | 2020 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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13.
General Information
TLC Building Contractors Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
8059466
. The registered office is Phoenix Buildings, Heywood Road, Prestwich, Manchester, M25 1FN.