Company Registration No. 05395552 (England and Wales)
TRS UK (Agents) Limited
Unaudited accounts
for the year ended 30 September 2021
TRS UK (Agents) Limited
Unaudited accounts
Contents
TRS UK (Agents) Limited
Company Information
for the year ended 30 September 2021
Directors
I T Yarwood
I A Yarwood
Company Number
05395552 (England and Wales)
Registered Office
Unit 4 Duchess Street Industrial Estate
Shaw
Oldham
OL2 7UX
Accountants
Streamline Accountancy Limited
Ocean Business Centre
Ocean Street
Altrincham
Cheshire
WA14 5QL
TRS UK (Agents) Limited
Statement of financial position
as at 30 September 2021
Tangible assets
27,623
34,153
Cash at bank and in hand
25,892
37,675
Creditors: amounts falling due within one year
(44,016)
(52,413)
Net current assets
64,805
60,984
Total assets less current liabilities
92,428
95,137
Creditors: amounts falling due after more than one year
(37,500)
(50,345)
Provisions for liabilities
Deferred tax
(5,025)
(4,449)
Called up share capital
2
2
Profit and loss account
49,901
40,341
Shareholders' funds
49,903
40,343
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by
I T Yarwood
Director
Company Registration No. 05395552
TRS UK (Agents) Limited
Notes to the Accounts
for the year ended 30 September 2021
TRS UK (Agents) Limited is a private company, limited by shares, registered in England and Wales, registration number 05395552. The registered office is Unit 4 Duchess Street Industrial Estate, Shaw, Oldham, OL2 7UX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
The accounts are presented in £ sterling.
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
Any estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions to accounting estimates are recognised in the period in which the estimate is revised.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
33% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
TRS UK (Agents) Limited
Notes to the Accounts
for the year ended 30 September 2021
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2020
44,459
31,516
6,417
82,392
At 30 September 2021
44,459
31,516
6,417
82,392
At 1 October 2020
24,023
18,220
5,996
48,239
Charge for the year
3,065
3,324
141
6,530
At 30 September 2021
27,088
21,544
6,137
54,769
At 30 September 2021
17,371
9,972
280
27,623
At 30 September 2020
20,436
13,296
421
34,153
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
39,914
41,439
TRS UK (Agents) Limited
Notes to the Accounts
for the year ended 30 September 2021
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
10,000
2,500
Obligations under finance leases and hire purchase contracts
2,845
7,805
Trade creditors
12,710
18,796
Taxes and social security
16,574
17,689
Loans from directors
1,308
2,054
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
-
2,845
Of the creditors falling due within and after more than one year the following amounts are secured :-
Assets held under HP are secured upon the assets to which they relate.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Transactions with related parties
The company has taken advantage of exemptions specified in FRS 102 and not disclosed the detail and nature of the following transactions ; non material transactions, transactions concluded under normal market conditions and transaction with companies under common control including Group companies.
The ultimate parent company is TRS UK (Holdings) Limited a private company, limited by shares, registered in England and Wales under registration number 09834626. The registered office is Unit 4 Duchess Street Industrial Estate, Shaw, Oldham, OL2 7UX.
11
Average number of employees
During the year the average number of employees was 2 (2020: 2).