Technical Demolition Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01684019 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Technical Demolition Services Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T G Taperell

A A Taperell

Miss V M Evans

Miss J A Hitchen

R J Smith

REGISTERED OFFICE:

17 Hamilton Square

Birkenhead

Merseyside

CH41 6AX

REGISTERED NUMBER:

01684019 (England and Wales)

ACCOUNTANTS:

Douglas Fairless Partnership

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,468,324

1,700,279

1,468,324

1,700,279

CURRENT ASSETS

Debtors

6

8,027,602

6,806,587

Cash at bank

620,061

105,725

8,647,663

6,912,312

CREDITORS

Amounts falling due within one year

1,837,553

1,158,479

NET CURRENT ASSETS

6,810,110

5,753,833

TOTAL ASSETS LESS CURRENT LIABILITIES

8,278,434

7,454,112

CREDITORS

Amounts falling due after more than one year

7

(2,734,747

)

(2,973,036

)

PROVISIONS FOR LIABILITIES

(295,648

)

(283,134

)

NET ASSETS

5,248,039

4,197,942

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

1,098,156

1,098,156

Retained earnings

4,149,783

3,099,686

SHAREHOLDERS' FUNDS

5,248,039

4,197,942

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 May 2024 and were signed on its behalf by:

T G Taperell - Director

1.	STATUTORY INFORMATION

Technical Demolition Services 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoice value of scrap sold or services provided, excluding value added tax.

Revenue is recognised based on the stage completion of contracts or on the delivery of a service. Revenue on scrap materials is recognised based on the date scrap materials are generated from a demolition project.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1995, is being amortised evenly over its estimated useful life of twenty years.

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

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

-

15% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from third parties and loans to and from related parties.

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.

Tax credits resulting from research & development claims are recognised in the year in which the tax credits are received.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies recorded in the profit & loss account are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Amounts recoverable on contracts

Amounts recoverable on contracts in relation to long term contracts are classified in debtors and represent the amount by which recorded turnover is in excess of payments on account.

Investments in associates

Investments in Associates have been classified as fixed assets and are carried at cost. The loan to Associate is carried at cost and is considered to be repayable on demand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2022 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2023

and 31 December 2023

50,000

AMORTISATION

At 1 January 2023

and 31 December 2023

50,000

NET BOOK VALUE

At 31 December 2023

-

At 31 December 2022

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2023

7,406,028

Additions

26,200

At 31 December 2023

7,432,228

DEPRECIATION

At 1 January 2023

5,705,749

Charge for year

258,155

At 31 December 2023

5,963,904

NET BOOK VALUE

At 31 December 2023

1,468,324

At 31 December 2022

1,700,279

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

Totals

£

COST

At 1 January 2023

and 31 December 2023

3,448,996

DEPRECIATION

At 1 January 2023

2,731,983

Charge for year

111,486

At 31 December 2023

2,843,469

NET BOOK VALUE

At 31 December 2023

605,527

At 31 December 2022

717,013

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.23

31.12.22

£

£

Other debtors

1,196,430

1,204,814

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.12.23

31.12.22

£

£

Repayable by instalments

Bank loans more 5 yr by instal

44,009

40,685

Other loans more 5yrs instal

1,735,918

1,800,918

1,779,927

1,841,603

8.

RESERVES

Revaluation

reserve

£

At 1 January 2023

and 31 December 2023

1,098,156

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23

31.12.22

£

£

T G Taperell

Balance outstanding at start of year

100,129

-

Amounts advanced

164,702

148,129

Amounts repaid

(264,989

)

(48,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(158

)

100,129

A A Taperell

Balance outstanding at start of year

100,129

-

Amounts advanced

164,702

148,129

Amounts repaid

(264,988

)

(48,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(157

)

100,129