Registered number
09340097
TLK Scaffolding Services Limited
Filleted Accounts
31 December 2022
TLK Scaffolding Services Limited
Registered number: 09340097
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 324,843 220,423
Current assets
Stocks 62,205 16,873
Debtors 4 269,434 119,032
Cash at bank and in hand 193,122 12,561
524,761 148,466
Creditors: amounts falling due within one year 5 (252,873) (142,742)
Net current assets 271,888 5,724
Total assets less current liabilities 596,731 226,147
Creditors: amounts falling due after more than one year 6 (114,546) (198,526)
Provisions for liabilities (13,452) (3,529)
Net assets 468,733 24,092
Capital and reserves
Called up share capital 100 100
Profit and loss account 468,633 23,992
Shareholder's funds 468,733 24,092
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Luke Kelland
Director
Approved by the board on 30 September 2023
TLK Scaffolding Services Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Scaffolding equipment 10 years straight line
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 18 12
3 Tangible fixed assets
Leasehold land & buildings Scaffold equipment Plant & machinery Total
£ £ £ £
Cost
At 1 January 2022 30,450 242,978 90,952 364,380
Additions 61,947 53,382 44,572 159,901
At 31 December 2022 92,397 296,360 135,524 524,281
Depreciation
At 1 January 2022 7,134 88,135 48,688 143,957
Charge for the year 4,244 29,635 21,602 55,481
At 31 December 2022 11,378 117,770 70,290 199,438
Net book value
At 31 December 2022 81,019 178,590 65,234 324,843
At 31 December 2021 23,316 154,843 42,264 220,423
4 Debtors 2022 2021
£ £
Trade debtors 197,126 69,165
Other debtors 72,308 49,867
269,434 119,032
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 26,195 33,280
Taxation and social security costs 156,181 61,018
Other creditors 70,497 48,444
252,873 142,742
6 Creditors: amounts falling due after one year 2022 2021
£ £
Other creditors 114,546 198,526
7 Loans 2022 2021
£ £
Creditors include:
Secured other loans 174,509 232,288
The director has provided a personal guarantee for the security of a loan included in "other creditors".
8 Other financial commitments 2022 2021
£ £
Total future minimum payments under non-cancellable operating leases 25,098 7,348
8 Related party transactions
Included in creditors is an amount of £4,996 owing to the Director, Mr Luke Kelland by TLK Scaffolding Limited as at the financial year end.
9 Controlling party
The company is under the control of the Director, Mr Luke kelland who owns 100% of the share capital.
9 Other information
TLK Scaffolding Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 19-21 United Downs Industrial Park
St Day
Redruth
Cornwall
TR16 5HY
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