Registered number
03294000
Year end:
31 December 2022
TUSKAR CONSTRUCTION SERVICES LTD
UNAUDITED FILLETED ACCOUNTS
FOR THE YEAR
ENDED 31 DECEMBER 2022
TUSKAR CONSTRUCTION SERVICES LTD
Registered number: 03294000
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
FIXED ASSETS
Tangible assets 3 1,001,796 950,006
CURRENT ASSETS
Debtors 4 77,963 265,194
Cash at bank and in hand 691,251 550,347
769,214 815,541
CREDITORS: amounts falling due within one year 5 (70,509) (139,462)
NET CURRENT ASSETS 698,705 676,079
TOTAL ASSETS LESS CURRENT LIABILITIES 1,700,501 1,626,085
Provisions for liabilities (52,215) (42,375)
NET ASSETS £1,648,286 £1,583,710
CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 6 311,641 279,241
Profit and loss account 1,336,635 1,304,459
SHAREHOLDERS' FUNDS £1,648,286 £1,583,710
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account is not delivered to Companies House.
Mr J G Murphy
Director
Approved by the board on 17 October 2023
TUSKAR CONSTRUCTION SERVICES LTD
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 receivable, net of discounts and value added taxes. Turnover from the sale of any goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets
Investment property is valued by the directors on an open market basis and a fair value is arrived at with reference to a house price index relating to the appropriate region. Changes in valuation are included in the profit and loss account and deferred tax is provided in accordance with the Financial Reporting Standard. Non distributable reserves that arise from changes in valuation after related tax provisions are transferred to the fair value reserve. Tangible assets other than Investment property are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Owned equipment etc. 15% on a reducing balance basis
Motor vehicles 25% on a reducing balance basis
Deferred Taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on a non-discounted basis at the tax rates which are expected to apply in the periods when the timing differences are expected to reverse.
Pensions
Contributions to defined contribution plans are charged to the profit and loss account in the period in which they are paid.
2 EMPLOYEES 2022 2021
Number Number
Average number of persons employed by the company 6 5
TUSKAR CONSTRUCTION SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2022
3 TANGIBLE FIXED ASSETS
Investment Property Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2022 942,000 33,330 27,690 1,003,020
Additions - 737 19,750 20,487
Surplus on revaluation 40,000 - - 40,000
Disposals - - (11,800) (11,800)
At 31 December 2022 982,000 34,067 35,640 1,051,707
Depreciation
At 1 January 2022 - 28,795 24,219 53,014
Charge for the year - 791 5,106 5,897
On disposals - - (9,000) (9,000)
At 31 December 2022 - 29,586 20,325 49,911
Net book value
At 31 December 2022 £ 982,000 £ 4,481 £ 15,315 £1,001,796
At 31 December 2021 £ 942,000 £ 4,535 £ 3,471 £ 950,006
2022 2021
Freehold land and buildings: £ £
Historical cost 621,905 621,905
£ 621,905 £ 621,905
The fair value of investment property is £982,000 and a surplus on revaluation of £40,000
has been included in the profit and loss account (2021 - surplus of £76,000).
4 DEBTORS 2022 2021
£ £
Trade debtors 3,000 75,713
Amounts recoverable on contracts 66,751 174,258
Directors' loans 2,204 2,536
Other debtors 6,008 12,687
£ 77,963 £ 265,194
Amounts due after more than one year included above £ 716 £ -
TUSKAR CONSTRUCTION SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2022
5 CREDITORS: amounts falling due within one year 2022 2021
£ £
Trade creditors 31,293 52,189
Corporation tax 23,257 48,068
Other taxes and social security costs 14,193 37,340
Other creditors 1,766 1,865
£ 70,509 £ 139,462
6 FAIR VALUE RESERVE FOR INVESTMENT PROPERTY 2022 2021
£ £
At 1 January 2022 279,241 217,681
Transfers (to)/from profit and loss account 32,400 61,560
At 31 December 2022 £ 311,641 £ 279,241
7 LOANS TO DIRECTORS
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr J G Murphy
Director's loan with interest charged at rates applied to beneficial loans for tax purposes 2,536 2,102 (2,434) 2,204
£ 2,536 £ 2,102 £ (2,434) £ 2,204
8 CONTROLLING PARTY
At the date of approval of these financial statements Mr J G Murphy controls the company by virtue of his holding 60% of the issued share capital.
TUSKAR CONSTRUCTION SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2022
9 OTHER INFORMATION
Tuskar Construction Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Botley Lane
Chesham
Buckinghamshire
HP5 1XS
The accounts are for the individual company and are presented in Sterling which is the functional currency of the company.
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