TNT Service Centre Ltd Company Accounts
TNT Service Centre Ltd Company Accounts
COMPANY REGISTRATION NUMBER:
07618631
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Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Officers and professional advisers |
1 |
Director's report |
2 |
Statement of income and retained earnings |
3 |
Statement of financial position |
4 |
Notes to the financial statements |
6 |
The following pages do not form part of the financial statements
Detailed income statement |
12 |
Notes to the detailed income statement |
13 |
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Officers and Professional Advisers |
Director |
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Registered office |
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Accountants |
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14 Cotswold Grove |
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Mansfield |
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Notts |
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NG18 3HH |
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Bankers |
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9 Stockwell Gate |
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Mansfield |
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Notts |
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NG18 1JY |
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Director's Report |
Year ended 31 March 2017
The director presents his report and the unaudited financial statements of the company for the year ended
31 March 2017
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Principal activities
Directors
The directors who served the company during the year were as follows:
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(Resigned
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(Resigned
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Small company provisions
This report was approved by the board of directors on
7 August 2017
and signed on behalf of the board by:
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Director |
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Registered office: |
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Statement of Income and Retained Earnings |
Year ended 31 March 2017
2017 |
2016 |
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Note |
£ |
£ |
Turnover |
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Cost of sales |
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--------- |
--------- |
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Gross profit |
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Administrative expenses |
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-------- |
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Operating profit |
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Other interest receivable and similar income |
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Profit before taxation |
5 |
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Tax on profit |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
(
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(
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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All the activities of the company are from continuing operations.
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
6 |
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Tangible assets |
7 |
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Current assets
Stocks |
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Debtors |
8 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
9 |
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Net current 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 |
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Profit and loss account |
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Members funds |
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Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
7 August 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
07618631
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Notes to the Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1(a) Acorn Way, Mansfield, Notts, NG18 3HD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Revenue recognition
Income tax
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery |
- |
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Motor vehicles |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2016:
3
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5.
Profit before taxation
Profit before taxation is stated after charging:
2017 |
2016 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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------- |
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6.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 April 2016 and 31 March 2017 |
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Amortisation |
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At 1 April 2016 |
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Charge for the year |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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7.
Tangible assets
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2016 and 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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– |
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------- |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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– |
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At 31 March 2016 |
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– |
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8.
Debtors
2017 |
2016 |
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£ |
£ |
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Other debtors |
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------- |
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9.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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10.
Financial instruments at fair value
2017 |
2016 |
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£ |
£ |
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Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss |
5,252 |
– |
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11.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2017 |
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Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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(
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– |
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– |
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(
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– |
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2016 |
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Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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(
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(
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(
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(
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(
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– |
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-------- |
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(
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(
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12.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.
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Management Information |
Year ended 31 March 2017
The following pages do not form part of the financial statements.
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Detailed Income Statement |
Year ended 31 March 2017
2017 |
2016 |
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£ |
£ |
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Turnover |
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Cost of sales
Opening stock |
3,244 |
3,473 |
Purchases |
101,317 |
114,165 |
Wages and salaries |
2,840 |
– |
Directors salaries |
23,387 |
24,382 |
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130,788 |
142,020 |
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Closing stock |
3,189 |
3,244 |
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127,599 |
138,776 |
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Gross profit |
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Overheads
Administrative expenses |
43,282 |
40,823 |
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Operating profit |
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Other interest receivable and similar income |
14 |
96 |
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Profit before taxation |
41,887 |
36,913 |
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Notes to the Detailed Income Statement |
Year ended 31 March 2017
2017 |
2016 |
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£ |
£ |
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Administrative expenses
Rent rates and water |
15,176 |
13,956 |
Light and heat |
1,887 |
1,219 |
Insurance |
7,890 |
5,432 |
Repairs and maintenance (allowable) |
1,595 |
1,413 |
Cleaning costs |
293 |
1,486 |
Motor expenses |
653 |
621 |
Hire costs (non-operating leases) |
7,080 |
7,249 |
Telephone |
1,970 |
1,657 |
Printing postage and stationery |
441 |
352 |
Sundry expenses |
356 |
1,229 |
Advertising |
726 |
840 |
Accountancy fees |
1,412 |
918 |
Amortisation of intangible assets |
1,500 |
1,500 |
Depreciation of tangible assets |
201 |
526 |
Bank charges |
2,102 |
2,425 |
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43,282 |
40,823 |
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Other interest receivable and similar income
Interest on bank deposits |
14 |
96 |
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