Torpey Construction Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07600098 (England and Wales)

TORPEY CONSTRUCTION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

P A Torpey

Mrs J Torpey

REGISTERED OFFICE:

124 Dove House Lane

Solihull

West Midlands

B91 2EW

REGISTERED NUMBER:

07600098 (England and Wales)

ACCOUNTANTS:

Equus Miller Limited

Chartered Certified Accountants

Brook House

47 High Street

Henley in Arden

Warwickshire

B95 5AA

FIXED ASSETS

Tangible assets

4

1,760

2,347

CURRENT ASSETS

Debtors

5

1,833

-

Cash at bank and in hand

245

4,997

2,078

4,997

CREDITORS

Amounts falling due within one year

6

10,896

6,481

NET CURRENT LIABILITIES

(8,818

)

(1,484

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,058

)

863

PROVISIONS FOR LIABILITIES

-

469

NET (LIABILITIES)/ASSETS

(7,058

)

394

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(7,059

)

393

SHAREHOLDERS' FUNDS

(7,058

)

394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 11 December 2017 and were signed on its behalf by:

P A Torpey - Director

1.	STATUTORY INFORMATION

Torpey Construction 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.

Turnover

Turnover represents invoiced sales of goods and services.

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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

4,794

300

5,094

DEPRECIATION

At 1 April 2016

2,447

300

2,747

Charge for year

587

-

587

At 31 March 2017

3,034

300

3,334

NET BOOK VALUE

At 31 March 2017

1,760

-

1,760

At 31 March 2016

2,347

-

2,347

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

Motor

vehicles

£

COST

At 1 April 2016

and 31 March 2017

4,794

DEPRECIATION

At 1 April 2016

2,447

Charge for year

587

At 31 March 2017

3,034

NET BOOK VALUE

At 31 March 2017

1,760

At 31 March 2016

2,347

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Corporation tax recoverable

1,833

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Hire purchase contracts

111

1,443

Corporation tax payable

-

3,129

Social security & other taxes

(203

)

15

Directors' loan accounts

9,719

348

Accrued expenses

1,269

1,546

10,896

6,481

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/17

31/3/16

value:

£

£

1

Ordinary

£1

1

1

The following reproduces the text of the report prepared for the directors and members 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 Torpey Construction Ltd for the year ended 31 March 2017 which comprise the

Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Torpey Construction Ltd, 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 Torpey Construction Ltd and state those matters that we have agreed to state to the Board of Directors of Torpey Construction Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Torpey Construction Ltd 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 loss of Torpey Construction Ltd. You consider that Torpey Construction Ltd 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 Torpey Construction Ltd. 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.

Equus Miller Limited

Chartered Certified Accountants

Brook House

47 High Street

Henley in Arden

Warwickshire

B95 5AA

11 December 2017