Company Registration No. 10958626 (England and Wales)
TD2023 REALISATIONS LTD
Unaudited accounts
for the period from 1 April 2023 to 30 June 2023
TD2023 REALISATIONS LTD
Unaudited accounts
Contents
TD2023 REALISATIONS LTD
Company Information
for the period from 1 April 2023 to 30 June 2023
Company Number
10958626 (England and Wales)
Registered Office
C/o VC Finance Ltd
2d Fulwood Park
Liverpool
L17 5AG
Accountants
VC Finance Ltd
3.02 The Plaza
100 Old Hall Street
Liverpool
L3 9QJ
TD2023 REALISATIONS LTD
Statement of financial position
as at 30 June 2023
Tangible assets
6,628
58,943
Cash at bank and in hand
50
-
Creditors: amounts falling due within one year
(91,351)
(511,920)
Net current liabilities
(78,078)
(440,119)
Total assets less current liabilities
(71,450)
(381,176)
Creditors: amounts falling due after more than one year
(36,049)
(56,485)
Provisions for liabilities
Other provisions
(21,500)
-
Net liabilities
(128,999)
(437,661)
Called up share capital
233
233
Profit and loss account
(129,232)
(437,894)
Shareholders' funds
(128,999)
(437,661)
For the period ending 30 June 2023 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 director acknowledges his 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 and authorised for issue on 16 October 2023 and were signed on its behalf by
C N Evans
Director
Company Registration No. 10958626
TD2023 REALISATIONS LTD
Notes to the Accounts
for the period from 1 April 2023 to 30 June 2023
TD2023 REALISATIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 10958626. The registered office is C/o VC Finance Ltd, 2d Fulwood Park, Liverpool, L17 5AG. The company is in the process of being wound up.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. The accounts are prepared on a “break-up” basis, i.e. a basis other than going concern.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared on a break-up basis. The Company ceased trading on 01 May 2023 and began realising assets for the benefit of its creditors. Whilst the actions of the Directors project to see all creditors settled in full at 100p in the £1, there can be no certainty of this and in any event its cessation of trading makes it unable to prepare accounts on the going concern basis.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Intangible fixed assets
Other
TD2023 REALISATIONS LTD
Notes to the Accounts
for the period from 1 April 2023 to 30 June 2023
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2023
3,208
3,186
62,527
507
30,464
99,892
Disposals
-
-
(54,477)
(507)
(30,464)
(85,448)
At 30 June 2023
3,208
3,186
8,050
-
-
14,444
At 1 April 2023
3,208
3,186
16,731
-
17,824
40,949
Charge for the period
-
-
711
14
1,172
1,897
On disposals
-
-
(16,020)
(14)
(18,996)
(35,030)
At 30 June 2023
3,208
3,186
1,422
-
-
7,816
At 30 June 2023
-
-
6,628
-
-
6,628
At 31 March 2023
-
-
45,796
507
12,640
58,943
Inventories representing work in progress is calculated using a direct measurement of value to the customer of the goods or services transferred to date. This includes using the appraisal of results achieved, milestones reached or units produced or delivered.
7
Debtors
30/06/2023
31/03/2023
Amounts falling due within one year
8
Creditors: amounts falling due within one year
30/06/2023
31/03/2023
Bank loans and overdrafts
30,771
6,667
Obligations under finance leases and hire purchase contracts
1,872
19,750
Amounts owed to group undertakings and other participating interests
4,916
39,274
Taxes and social security
14,547
30,389
Other creditors
39,245
2,740
Following an agreement entered into with Tokyo Technologies Ltd and in addition with a major supplier who is owed work paid for in advance, the liability on the Company was assigned by way of Deed of Novation.
TD2023 REALISATIONS LTD
Notes to the Accounts
for the period from 1 April 2023 to 30 June 2023
9
Creditors: amounts falling due after more than one year
30/06/2023
31/03/2023
Obligations under finance leases and hire purchase contracts
3,743
22,688
10
Share capital
30/06/2023
31/03/2023
Allotted, called up and fully paid:
233 Ordinary shares of £1 each
233
233
During the return of lease cars certain damage charges are applied that can not be foreseen. Also a Novation which the Company believed had taken place of a car with VWFS has an outstanding balance of c.£5k. A provision for this liability has been made within the accounts.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advance against salary
-
10,000
-
10,000
Directors loans are interest free and unsecured and repayable on demand but in not less than 9 months from the loan date. The loan shows in Other Debtors. The loan was made before the company ceased to trade, the Directors consider this may not be recoverable and have provided for it in full.
The company, in the period was a wholly owned subsidiary of TOKGRP Ltd a Company incorpoated in England No. 09938882. As it qualifies as a small group accounts are not further consolidated.
14
Post balance sheet events
The Directors contintued to wind down the affairs of the company for the benifit of creditors as can be noted from the substantially reduced liabilities. The Directors intend to file accounts to the end of September and at that point will explain all the actions taken. Those accounts expect to show further progress to balance sheet improvement and clean up. However, whilst further "unwinding" and and admin work has been completed in that period post 30/06/2023 to continue to gracefully close the company, the Directors work is almost complete. Post period end V Gardner ceased to be a Director as the amount of admin work reduced to a few small matters, mainly around lease cars. During the next report and accounts filed the Director remaining C N Evans intends to provide a detailed explanation of all transactions undertaken since it ceased trading.
15
Average number of employees
During the period the average number of employees was 2 (31/03/2023: 9).