TGS Holdings (UK) Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08971682 (England and Wales)

TGS HOLDINGS (UK) LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T G Smith

Mr R H Smith

Mr N J Smith

Mr J Smith

Mr B M Smith

Mr G Smith

REGISTERED OFFICE:

Woodpecker House

Balaclava Road

Fishponds

Bristol

BS16 3LJ

REGISTERED NUMBER:

08971682 (England and Wales)

ACCOUNTANTS:

Oldfield Accountants

Santis House

Curriers Close

Coventry

West Midlands

CV4 8AW

ACCOUNTANTS:

Oldfield Accountants

Santis House

Curriers Close

Coventry

West Midlands

CV4 8AW

FIXED ASSETS

Tangible assets

3

1,604,735

1,626,735

Investments

4

100

100

Investment property

5

365,000

365,000

1,969,835

1,991,835

CURRENT ASSETS

Debtors

6

1,471,737

1,668,127

Cash at bank

5,181

1,262

1,476,918

1,669,389

CREDITORS

Amounts falling due within one year

7

813,210

884,889

NET CURRENT ASSETS

663,708

784,500

TOTAL ASSETS LESS CURRENT LIABILITIES

2,633,543

2,776,335

CREDITORS

Amounts falling due after more than one year

8

(2,499,565

)

(2,683,400

)

PROVISIONS FOR LIABILITIES

(23,000

)

(23,000

)

NET ASSETS

110,978

69,935

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Fair value reserve

10

92,000

92,000

Retained earnings

10

17,778

(23,265

)

SHAREHOLDERS' FUNDS

110,978

69,935

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 17 July 2017 and were signed on its behalf by:

Mr R H Smith - Director

1.	STATUTORY INFORMATION

TGS Holdings (UK) Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about TGS Holdings (UK) Ltd as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Investments

Investments are shown at cost less provision for impairment.

Going concern

The directors believe that the company and the group have adequate resources to continue in

operational existence for the foreseeable future. For this reason, they continue to adopt the

going-concern basis in producing the financial statements.

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 May 2016

and 30 April 2017

1,650,000

DEPRECIATION

At 1 May 2016

23,265

Charge for year

22,000

At 30 April 2017

45,265

NET BOOK VALUE

At 30 April 2017

1,604,735

At 30 April 2016

1,626,735

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2016

and 30 April 2017

100

NET BOOK VALUE

At 30 April 2017

100

At 30 April 2016

100

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

TGS (UK) Ltd

Registered office:

Nature of business: Vehicle bodyworks and parts

%

Class of shares:

holding

Ordinary

100.00

2017

2016

£

£

Aggregate capital and reserves

518,628

502,824

Profit for the year

483,205

389,929

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

and 30 April 2017

365,000

NET BOOK VALUE

At 30 April 2017

365,000

At 30 April 2016

365,000

Cost or valuation at 30 April 2017 is represented by:

£

Valuation in 2015

50,000

Valuation in 2016

65,000

Cost

250,000

365,000

If investment property had not been revalued it would have been included at the following historical

cost:

2017

2016

£

£

Cost

250,000

250,000

Investment property was valued on realistic fair value basis on by the directors based upon market research

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

1,457,073

1,668,127

Directors' current accounts

14,664

-

1,471,737

1,668,127

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

11,278

33,600

Trade creditors

1

(1

)

Tax

15,680

-

Directors' current accounts

786,251

851,290

813,210

884,889

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

11,558

33,600

Bank loans - 2-5 years

36,460

100,800

Bank loans more 5 yr by instal

134,547

232,000

Preference shares

2,317,000

2,317,000

2,499,565

2,683,400

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

134,547

232,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

193,843

400,000

The bank loan is secured by a fixed charge over two freehold properties dated 9th April 2015. This

facility available to the Company, and its subsidiary, are secured by cross-guarantee.

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 May 2016

(23,265

)

92,000

68,735

Profit for the year

508,443

508,443

Dividends

(467,400

)

(467,400

)

At 30 April 2017

17,778

92,000

109,778

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2017 and

30 April 2016:

2017

2016

£

£

Mr R H Smith

Balance outstanding at start of year

-

-

Amounts advanced

14,664

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,664

-

12.	RELATED PARTY DISCLOSURES

Included within directors loan accounts due within one year, are loans due to directors of £786,251

(2016: £851,290).

13.	ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the current period.