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COMPANY REGISTRATION NUMBER: 08011274
T D Developments (Burwell) Limited
Unaudited financial statements
31 March 2022
T D Developments (Burwell) Limited
Statement of financial position
31 March 2022
2022
2021
Note
£
£
£
£
Fixed assets
Tangible assets
5
155,616
93,052
Current assets
Stocks
5,500
5,500
Debtors
6
44,300
97,854
Cash at bank and in hand
164,162
119,838
---------
---------
213,962
223,192
Creditors: Amounts falling due within one year
7
( 145,127)
( 169,667)
---------
---------
Net current assets
68,835
53,525
---------
---------
Total assets less current liabilities
224,451
146,577
Creditors: Amounts falling due after more than one year
8
( 74,975)
( 56,441)
Provisions
Taxation including deferred tax
( 29,567)
( 17,680)
---------
---------
Net assets
119,909
72,456
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
119,907
72,454
---------
-------
Shareholders funds
119,909
72,456
---------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2022 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
T D Developments (Burwell) Limited
Statement of financial position (continued)
31 March 2022
These financial statements were approved by the board of directors and authorised for issue on 4 August 2022 , and are signed on behalf of the board by:
S Thomas
Director
Company registration number: 08011274
T D Developments (Burwell) Limited
Notes to the financial statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Gables, Old Market Street, Thetford, Norfolk, IP24 2EN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from contracts is measured by reference to the stage of completion at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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 and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of employees during the year was 3 (2021: 3 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2021
99,988
43,054
4,168
147,210
Additions
74,798
19,995
160
94,953
Disposals
( 14,500)
( 13,500)
( 28,000)
---------
-------
------
---------
At 31 March 2022
160,286
49,549
4,328
214,163
---------
-------
------
---------
Depreciation
At 1 April 2021
32,120
18,907
3,131
54,158
Charge for the year
14,409
7,458
421
22,288
Disposals
( 8,710)
( 9,189)
( 17,899)
---------
-------
------
---------
At 31 March 2022
37,819
17,176
3,552
58,547
---------
-------
------
---------
Carrying amount
At 31 March 2022
122,467
32,373
776
155,616
---------
-------
------
---------
At 31 March 2021
67,868
24,147
1,037
93,052
---------
-------
------
---------
6. Debtors
2022
2021
£
£
Trade debtors
15,671
82,272
Other debtors
28,629
15,582
-------
-------
44,300
97,854
-------
-------
7. Creditors: Amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
10,000
7,500
Trade creditors
59,689
47,306
Social security and other taxes
8,967
9,625
Other creditors
66,471
105,236
---------
---------
145,127
169,667
---------
---------
Hire purchase agreements disclosed under other creditors falling due within one year amounting to £12,742 (2021: £4,353) are secured by the assets concerned.
8. Creditors: Amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
32,500
42,500
Other creditors
42,475
13,941
-------
-------
74,975
56,441
-------
-------
Hire purchase agreements disclosed under other creditors falling due after one year amounting to £42,475 (2021: 13,941) are secured by the assets concerned.