Thermal Road Repairs Limited - Accounts to registrar (filleted) - small 18.2
Thermal Road Repairs Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 |
| FOR |
| THERMAL ROAD REPAIRS LIMITED |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 July 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| THERMAL ROAD REPAIRS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 July 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 2nd Floor, Boulton House |
| 17-21 Chorlton Street |
| Manchester |
| M1 3HY |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| BALANCE SHEET |
| 31 July 2021 |
| 31.7.21 | 31.7.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 | 1,802,223 | 1,294,290 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Revaluation reserve | 13 |
| Retained earnings | 13 |
| SHAREHOLDERS' FUNDS |
| 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. |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| BALANCE SHEET - continued |
| 31 July 2021 |
| 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 |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 July 2021 |
| 1. | STATUTORY INFORMATION |
| Thermal Road Repairs Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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. |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 July 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| and |
| licences |
| £ |
| COST |
| At 1 August 2020 |
| Additions |
| At 31 July 2021 |
| AMORTISATION |
| At 1 August 2020 |
| Amortisation for year |
| At 31 July 2021 |
| NET BOOK VALUE |
| At 31 July 2021 |
| At 31 July 2020 |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 July 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 August 2020 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Revaluations |
| At 31 July 2021 |
| DEPRECIATION |
| At 1 August 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| Revaluation adjustments | ( |
) | ( |
) |
| Impairments |
| At 31 July 2021 |
| NET BOOK VALUE |
| At 31 July 2021 |
| At 31 July 2020 |
| Cost or valuation at 31 July 2021 is represented by: |
| Fixtures |
| Short | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2016 | - | 44,900 | - | 19,151 | 64,051 |
| Valuation in 2020 | - | 275,750 | - | - | 275,750 |
| Valuation in 2021 | - | 243,196 | - | - | 243,196 |
| Cost | 10,045 | 1,319,001 | 51,203 | 123,234 | 1,503,483 |
| 10,045 | 1,882,847 | 51,203 | 142,385 | 2,086,480 |
| If fixed assets had not been revalued they would have been included at the following historical cost: |
| 31.7.21 | 31.7.20 |
| £ | £ |
| Cost | 1,503,483 | 1,156,195 |
| Aggregate depreciation | 789,545 | 551,566 |
| Fixed assets were valued on an open market basis on 31 July 2021 by the directors . |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 July 2021 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 August 2020 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Revaluations |
| Transfer to ownership | (350,000 | ) | - | (350,000 | ) |
| At 31 July 2021 |
| DEPRECIATION |
| At 1 August 2020 |
| Charge for year |
| Revaluation adjustments | ( |
) | ( |
) |
| Impairments |
| Transfer to ownership | (10,000 | ) | - | (10,000 | ) |
| At 31 July 2021 |
| NET BOOK VALUE |
| At 31 July 2021 |
| At 31 July 2020 |
| 6. | STOCKS |
| 31.7.21 | 31.7.20 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.21 | 31.7.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| VAT |
| Prepayments and accrued income |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 July 2021 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.21 | 31.7.20 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Hire purchase contracts |
| Trade creditors |
| Other creditors |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.7.21 | 31.7.20 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.7.21 | 31.7.20 |
| £ | £ |
| Other loans |
| Included in bank loans is an amount of £Nil (2020 : £40,741) which is secured by a fixed and floating charge over the assets of the company. |
| The other loan is secured by way of a fixed and floating charge over the assets of the company. |
| 11. | PROVISIONS FOR LIABILITIES |
| 31.7.21 | 31.7.20 |
| £ | £ |
| Deferred tax | 142,606 | 144,141 |
| Deferred |
| tax |
| £ |
| Balance at 1 August 2020 |
| Accelerated capital allowances | (1,535 | ) |
| Balance at 31 July 2021 |
| THERMAL ROAD REPAIRS LIMITED (REGISTERED NUMBER: 09127996) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 July 2021 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.7.21 | 31.7.20 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 13. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 August 2020 | 625,851 |
| Profit for the year |
| Reclassification of reserve | 64,051 | (64,051 | ) | - |
| At 31 July 2021 | 711,907 |
| 14. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr Henry Aidan Conway. |