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REGISTERED NUMBER: 01599946 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

TELCOAT LIMITED

TELCOAT LIMITED (REGISTERED NUMBER: 01599946)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


TELCOAT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2021







DIRECTOR: J Wright





SECRETARY: Mrs J Wright





REGISTERED OFFICE: Halesfield 23
Telford
Shropshire
TF7 4NY





REGISTERED NUMBER: 01599946 (England and Wales)





ACCOUNTANTS: Grindrod & Company Limited
Salisbury House
11 Queen Street
Wellington
Telford
Shropshire
TF1 1EH

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TELCOAT LIMITED

The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Telcoat Limited for the year ended 31 August 2021 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Telcoat Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Telcoat Limited and state those matters that we have agreed to state to the director of Telcoat Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Telcoat Limited and its director for our work or for this report.

It is your duty to ensure that Telcoat Limited 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 profit of Telcoat Limited. You consider that Telcoat 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 financial statements of Telcoat 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 financial statements.






Grindrod & Company Limited
Salisbury House
11 Queen Street
Wellington
Telford
Shropshire
TF1 1EH


28 August 2022

TELCOAT LIMITED (REGISTERED NUMBER: 01599946)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,769 24,923
Tangible assets 5 480,877 202,456
501,646 227,379

CURRENT ASSETS
Debtors 6 70,437 69,511
Cash at bank 255,972 460,175
326,409 529,686
CREDITORS
Amounts falling due within one year 7 186,912 183,796
NET CURRENT ASSETS 139,497 345,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

641,143

573,269

PROVISIONS FOR LIABILITIES 7,457 9,108
NET ASSETS 633,686 564,161

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 633,586 564,061
SHAREHOLDERS' FUNDS 633,686 564,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TELCOAT LIMITED (REGISTERED NUMBER: 01599946)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2022 and were signed by:





J Wright - Director


TELCOAT LIMITED (REGISTERED NUMBER: 01599946)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

1. STATUTORY INFORMATION

Telcoat Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 12.5% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

TELCOAT LIMITED (REGISTERED NUMBER: 01599946)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2020
and 31 August 2021 41,539
AMORTISATION
At 1 September 2020 16,616
Charge for year 4,154
At 31 August 2021 20,770
NET BOOK VALUE
At 31 August 2021 20,769
At 31 August 2020 24,923

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2020 313,126 482,888 796,014
Additions 294,773 - 294,773
At 31 August 2021 607,899 482,888 1,090,787
DEPRECIATION
At 1 September 2020 160,050 433,508 593,558
Charge for year 6,263 10,089 16,352
At 31 August 2021 166,313 443,597 609,910
NET BOOK VALUE
At 31 August 2021 441,586 39,291 480,877
At 31 August 2020 153,076 49,380 202,456

The director has reviewed the carrying value of the long leasehold property as at 31 August 2021 and he believes that in the current market place, it represents fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 48,962 48,313
Other debtors 21,475 21,198
70,437 69,511

TELCOAT LIMITED (REGISTERED NUMBER: 01599946)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 15,987 16,379
Taxation and social security 36,693 40,844
Other creditors 134,232 126,573
186,912 183,796

During the year, the sole beneficiary of the defined contribution company pension scheme, Mr James Wright, who is also the sole shareholder and director of the company, instructed the company pension scheme to draw down the full value of the fund and then close the fund. The taxable element of the fund has been repaid to Telcoat Limited as the employer and is held by them awaiting instruction from Mr James Wright as to when he wishes any part of it to be paid to him.

The full amount of the taxable pension draw down is £118,318 and is currently held in the main limited company instant access deposit account. Since the sole beneficiary of the pension fund is the same person as the sole director and shareholder of the company, no independent investment advice regarding the pension fund has been taken.

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2020 - £25,000) were paid to the director .

The sole director and shareholder, Mr J Wright, is also the sole director and shareholder of Mistral Energy Products Limited and Telford Sheet Metal Limited. Both of these companies trade from adjacent commercial buildings owned by Telcoat Limited.

During the year Telcoat Limited made material, overhead, property and fixed asset recharges to these connected companies in order to recharge the respective element of those costs which related to each companies communal occupancy. These transactions have been undertaken on normal commercial terms.

As at 31 August 2021 Telcoat Limited had made an interest free loan to Mistral Energy Products Limited of £nil (2020:£3,652).

9. ULTIMATE CONTROLLING PARTY

The controlling party is J Wright.

The ultimate controlling party is J Wright.