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Registration number: 04390435

TPS (Camberley) Services Limited

Annual Report and Unaudited Financial Statements - Companies House Filing

for the Year Ended 31 March 2018

 

TPS (Camberley) Services Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Financial Statements

5 to 9

 

TPS (Camberley) Services Limited

Company Information

Directors

S J Kingham

C R Kingham

Registered office

Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

Accountants

Stewart & Co
Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
TPS (Camberley) Services Limited
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TPS (Camberley) Services Limited for the year ended 31 March 2018 as set out on pages 3 to 9 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of TPS (Camberley) Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of TPS (Camberley) Services Limited and state those matters that we have agreed to state to the Board of Directors of TPS (Camberley) Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TPS (Camberley) Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that TPS (Camberley) Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of TPS (Camberley) Services Limited. You consider that TPS (Camberley) 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 accounts of TPS (Camberley) 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 accounts.

......................................

Stewart & Co
Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

13 November 2018

 

TPS (Camberley) Services Limited

(Registration number: 04390435)
Statement of Financial Position as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

2,280

3,043

Current assets

 

Stocks

5

2,000

2,000

Debtors

6

87,983

133,240

Cash at bank and in hand

 

40,142

75,580

 

130,125

210,820

Creditors: Amounts falling due within one year

7

(37,395)

(79,289)

Net current assets

 

92,730

131,531

Total assets less current liabilities

 

95,010

134,574

Provisions for liabilities

(433)

(578)

Net assets

 

94,577

133,996

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

94,575

133,994

Total equity

 

94,577

133,996

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

 

TPS (Camberley) Services Limited

(Registration number: 04390435)
Statement of Financial Position as at 31 March 2018

Approved and authorised by the Board on 13 November 2018 and signed on its behalf by:
 

.........................................

S J Kingham
Director

 

TPS (Camberley) Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

TPS (Camberley) Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property

25% reducing balance

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

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

 

TPS (Camberley) Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 2).

 

TPS (Camberley) Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2017

4,800

14,403

5,671

24,874

At 31 March 2018

4,800

14,403

5,671

24,874

Depreciation

At 1 April 2017

4,505

12,748

4,578

21,831

Charge for the year

74

416

273

763

At 31 March 2018

4,579

13,164

4,851

22,594

Carrying amount

At 31 March 2018

221

1,239

820

2,280

At 31 March 2017

295

1,655

1,093

3,043

5

Stocks

2018
£

2017
£

Raw materials and consumables

2,000

2,000

6

Debtors

2018
£

2017
£

Trade debtors

82,659

111,115

Other debtors

5,324

22,125

87,983

133,240

7

Creditors

Creditors: amounts falling due within one year

2018
£

2017
£

Trade creditors

29,311

52,499

Taxation and social security

2,709

22,114

Accruals and deferred income

3,103

3,763

Other creditors

2,272

913

37,395

79,289

 

TPS (Camberley) Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position
 

The total amount of financial commitments not included in the statement of financial position is £13,601 (2017 - £21,373).

9

Related party transactions

At the year end the company owed its directors £1,772 (2017: £413).