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Registration number: 11902022

Technic Concrete Pumps Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Technic Concrete Pumps Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Technic Concrete Pumps Limited

(Registration number: 11902022)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

18,884

2,250

Current assets

 

Stocks

5

99,348

56,572

Debtors

6

262,060

230,733

Cash at bank and in hand

 

34,239

90,972

 

395,647

378,277

Creditors: Amounts falling due within one year

7

(328,046)

(289,053)

Net current assets

 

67,601

89,224

Total assets less current liabilities

 

86,485

91,474

Creditors: Amounts falling due after more than one year

7

(33,180)

(41,126)

Provisions for liabilities

(4,721)

(427)

Net assets

 

48,584

49,921

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

48,484

49,821

Shareholders' funds

 

48,584

49,921

 

Technic Concrete Pumps Limited

(Registration number: 11902022)
Balance Sheet as at 31 March 2022

For the financial 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.

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 Profit and Loss Account has been taken.

Approved and authorised by the director on 7 September 2022
 

.........................................
Mr D Murgatroyd
Company secretary

.........................................
Mr P Kinehan
Director

 

Technic Concrete Pumps Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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:
1 Pavilion Square
Westhoughton
Bolton
Lancashire
BL5 3AJ
United Kingdom

These financial statements were authorised for issue by the director on 7 September 2022.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents rental income from hire of equipment, net of VAT and trade discounts. Turnover is recognised to match the period the equipment is out on hire in accordance with the agreement in place with the customer.

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.

 

Technic Concrete Pumps Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Motor Vehicles

25% reducing balance basis

Plant & Machinery

25% reducing balance basis

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Technic Concrete Pumps Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 6).

4

Tangible assets

Motor vehicles
 £

Plant & Machinery
£

Total
£

Cost or valuation

At 1 April 2021

2,500

1,500

4,000

Additions

-

17,000

17,000

At 31 March 2022

2,500

18,500

21,000

Depreciation

At 1 April 2021

1,094

656

1,750

Charge for the year

14

352

366

At 31 March 2022

1,108

1,008

2,116

Carrying amount

At 31 March 2022

1,392

17,492

18,884

At 31 March 2021

1,406

844

2,250

5

Stocks

2022
£

2021
£

Raw materials and consumables

99,348

56,572

 

Technic Concrete Pumps Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

6

Debtors

2022
£

2021
£

Trade debtors

249,258

223,483

Prepayments

10,479

7,150

Other debtors

2,323

100

262,060

230,733

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

10,648

8,875

Trade creditors

 

192,392

141,100

Amounts owed to group undertakings and undertakings in which the company has a participating interest

100,000

100,000

Taxation and social security

 

14,388

35,403

Accruals and deferred income

 

10,281

1,968

Other creditors

 

337

1,707

 

328,046

289,053

Creditors include bank loans which are secured of £10,648 (2021 - £8,875).

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

33,180

41,126

Creditors include bank loans which are secured of £33,180 (2021 - £41,126).

 

Technic Concrete Pumps Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

33,180

41,126

2022
£

2021
£

Current loans and borrowings

Bank borrowings

10,648

8,875