Total Integrated Construction Services L - Accounts to registrar (filleted) - small 23.1.2
Total Integrated Construction Services L - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED (REGISTERED NUMBER: 02400278) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 9 |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 December 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Ashbourne House |
| The Guildway |
| Old Portsmouth Road |
| Guildford |
| Surrey |
| GU3 1LR |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED (REGISTERED NUMBER: 02400278) |
| BALANCE SHEET |
| 31 December 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| 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. |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED (REGISTERED NUMBER: 02400278) |
| BALANCE SHEET - continued |
| 31 December 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED (REGISTERED NUMBER: 02400278) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2022 |
| 1. | STATUTORY INFORMATION |
| Total Integrated Construction Services Limited is a |
| The principal place of business is 68 High Street, Weybridge, Surrey, KT13 8BL. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Total Integrated Construction Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of consideration received or receivable and represents amounts receivable for sale of services, in the ordinary nature of business, excluding Value Added Tax. |
| Tangible fixed assets |
| Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for intended use. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Fixtures and fittings - 15% on reducing balance |
| Computer equipment - 15% on reducing balance |
| On disposal, the difference between net proceeds and the carrying amount of the item sold is recognised in the profit and loss account and is included in administrative expenses. |
| Government grants |
| Government grants in the prior year relate to the Coronavirus business interruption payments to cover the first year of interest payments under the Coronavirus Business Interruption Loan Scheme. These were accounted for under the accruals model. Grants relating to revenue were recognised in income on a systematic basis over the period in which the entity recognised the related costs for which the grant is intended to compensate. |
| Financial instruments |
| Financial instruments are classified by directors as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price (including transaction cost) and subsequently recognised at amortised cost using the effective interest method. The company does not have any non-basic financial instruments. |
| Current tax |
| Current tax is the amount of corporation tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end. |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED (REGISTERED NUMBER: 02400278) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences between the company's taxable profits and its results as stated in the financial statements. |
| Deferred tax is measured at the average tax rates that are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
| Operating leases |
| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account over the lease term. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term. |
| Provisions for liabilities |
| Provisions are recognised in the financial statements for all expected future cash outflows arising in respect of lease dilapidations. A provision is provided for when the company has a contractual obligation under the agreed lease term to return the premises to its original order. The expected costs are charged to the profit and loss account on a straight line basis over the term of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2022 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2022 |
| DEPRECIATION |
| At 1 January 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED (REGISTERED NUMBER: 02400278) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans (see note 8) |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| The bank loan relates to a Coronavirus Business Interruption Loan Scheme for £1m which is repayable over a 6 year period attracting interest at 1.87% above the base rate. A business interruption payment was made by the government to cover the first 12 months of interest payments. There were no capital payments in the first year, but repayments of capital and interest are made monthly over the remaining loan period. The total loan amount due within one year of £520k includes a balance of £320k which the company opted to make an early repayment on the 5th January 2023. |
| The loan is secured by way of a fixed and floating charge over the assets of the company. |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED (REGISTERED NUMBER: 02400278) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2022 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | PROVISIONS FOR LIABILITIES |
| 2022 | 2021 |
| £ | £ |
| Deferred tax | 10,210 | 10,210 |
| Other provisions | 28,875 | 26,250 |
| Deferred | Other |
| tax | provisions |
| £ | £ |
| Balance at 1 January 2022 |
| Provided during year |
| Increase in provisions during |
| the year |
| Balance at 31 December 2022 |
| Deferred tax represents accelerated capital allowances. |
| Other provisions represents dilapidations provisions in respect of a property rental operating lease. |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year | 21,538 | 598 |
| Amounts advanced | 538 | 21,538 |
| Amounts repaid | (598 | ) |
| Amounts written off | - |
| Amounts waived | - |
| Balance outstanding at end of year | 22,076 | 21,538 |
| The outstanding balance is repayable on demand and accrues interest at 2.5%. |
| 12. | POST BALANCE SHEET EVENTS |
| Following the year end, the company opted to make early repayment of the remaining bank loan and a total repayment of £717k was made to settle the loan in full. |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED (REGISTERED NUMBER: 02400278) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2022 |
| 13. | GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
| There is a cross guarantee in place in respect of bank facilities of group companies and the company has allowed fixed and floating charges over the company's assets as security in respect of this. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| TOTAL INTEGRATED CONSTRUCTION SERVICES |
| LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Total Integrated Construction Services Limited for the year ended 31 December 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Total Integrated Construction Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Total Integrated Construction Services Limited and state those matters that we have agreed to state to the Board of Directors of Total Integrated Construction Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Total Integrated Construction Services Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Total Integrated Construction Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Total Integrated Construction Services Limited. You consider that Total Integrated Construction Services Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Total Integrated Construction Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. |
| Chartered Accountants |
| Ashbourne House |
| The Guildway |
| Old Portsmouth Road |
| Guildford |
| Surrey |
| GU3 1LR |