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Registration number: 09903691

Tarrec Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2022 to 30 June 2023

 

Tarrec Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Tarrec Limited

Company Information

Directors

M A Reay

J J Sinclair

A Booy

Registered office

Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

 

Tarrec Limited

(Registration number: 09903691)
Balance Sheet as at 30 June 2023

Note

2023
£

2021
£

Current assets

 

Debtors

4

6,749

192,237

Cash at bank and in hand

 

9,886

147,471

 

16,635

339,708

Creditors: Amounts falling due within one year

5

(3,720)

(187,271)

Net assets

 

12,915

152,437

Capital and reserves

 

Called up share capital

300

300

Retained earnings

12,615

152,137

Shareholders' funds

 

12,915

152,437

For the financial 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.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The Directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 September 2023 and signed on its behalf by:
 

.........................................
M A Reay
Director

.........................................
J J Sinclair
Director

.........................................
A Booy
Director

 

Tarrec Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 June 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 09903691.

The address of its registered office is:
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

The principal place of business is:
Highway House
Hereford Road
Pocklington Industrial Estate
York
YO42 1NR

These financial statements were authorised for issue by the Board on 27 September 2023.

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 (included 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Disclosure of long or short period

To align the entity’s reporting period with its cessation date the entity changed the end of its reporting period from 31 December to 30 June.

Amounts presented for the 2023 reporting period are for a 18-month period. Comparative figures are for a 12-month period. Consequently, comparative amounts for the profit & loss accounts, statement of comprehensive income, statement of changes in equity, related notes are not entirely comparable.

Going concern

The financial statements have not been prepared on a going concern basis as the business ceased to trade during the period.

 

Tarrec Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 June 2023

Revenue recognition

Turnover arises from the provision of maintenance and groundwork services . Turnover is measured at the fair value of the consideration received or receivable and represents amounts for the rendering of services in the normal course of business, net of discounts and other sales-related taxes.

Turnover from the provision of services is recognised when the service is performed.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met of each of the companies activities.

Tax

The tax expense for the period comprises current 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.

Trade debtors

Trade debtors are amounts due from customers for the provision of services in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for maintenance and groundwork services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 3 (2021 - 3).

 

Tarrec Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 June 2023

4

Debtors

2023
£

2021
£

Trade debtors

-

182,614

Other debtors

6,749

-

Prepayments and accrued income

-

9,623

Total current trade and other debtors

6,749

192,237

5

Creditors

Creditors: amounts falling due within one year

2023
£

2021
£

Due within one year

Trade creditors

1,020

80,635

Taxation and social security

-

103,108

Accruals and deferred income

-

828

Other borrowings

2,700

2,700

3,720

187,271

6

Loans and borrowings

2023
£

2021
£

Current unsecured loans and borrowings

Other borrowings

2,700

2,700

Other borrowings relate to unsecured Director loans.

7

Related party transactions

Other transactions with Directors

At the year end the company owed the directors £2,700 (2021: £2,700) in respect of a current account balance. Loans made to the company by the directors are unsecured, interest free and repayable on demand.