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REGISTERED NUMBER: 05070019 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

TGN CONSTRUCTION LIMITED

TGN CONSTRUCTION LIMITED (REGISTERED NUMBER: 05070019)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TGN CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Timothy Glen Norgate
Jayne Vivien Norgate



REGISTERED OFFICE: 467 Rainham Road South
Dagenham
Essex
RM10 7XJ



REGISTERED NUMBER: 05070019 (England and Wales)



ACCOUNTANTS: Pickering Evennett Limited
467 Rainham Road South
Dagenham
Essex
RM10 7XJ



BANKERS: Barclays Bank plc
P.O. Box 12
Terminus Street
Harlow
Essex
CM20 1ET

TGN CONSTRUCTION LIMITED (REGISTERED NUMBER: 05070019)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 7,889
- 7,889

CURRENT ASSETS
Debtors 6 909,029 1,707,054
Cash at bank and in hand 1,231,548 367,245
2,140,577 2,074,299
CREDITORS
Amounts falling due within one year 7 93,687 135,778
NET CURRENT ASSETS 2,046,890 1,938,521
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,046,890

1,946,410

CREDITORS
Amounts falling due after more than one year 8 39,705 -

PROVISIONS FOR LIABILITIES - (1,499 )
NET ASSETS 2,086,595 1,944,911

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,086,495 1,944,811
SHAREHOLDERS' FUNDS 2,086,595 1,944,911

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TGN CONSTRUCTION LIMITED (REGISTERED NUMBER: 05070019)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





Timothy Glen Norgate - Director


TGN CONSTRUCTION LIMITED (REGISTERED NUMBER: 05070019)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

TGN Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

TGN CONSTRUCTION LIMITED (REGISTERED NUMBER: 05070019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 36,000
AMORTISATION
At 1 April 2022
and 31 March 2023 36,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 9,971 145,260 10,355 165,586
Disposals (9,971 ) (28,840 ) (10,355 ) (49,166 )
At 31 March 2023 - 116,420 - 116,420
DEPRECIATION
At 1 April 2022 8,951 145,260 3,486 157,697
Eliminated on disposal (8,951 ) (28,840 ) (3,486 ) (41,277 )
At 31 March 2023 - 116,420 - 116,420
NET BOOK VALUE
At 31 March 2023 - - - -
At 31 March 2022 1,020 - 6,869 7,889

TGN CONSTRUCTION LIMITED (REGISTERED NUMBER: 05070019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 179,103 237,176
Other debtors 255 48,338
Directors' current accounts 712,553 1,280,961
VAT 17,118 140,579
909,029 1,707,054

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,944 31,596
Tax 46,462 85,944
Social security and other taxes 7,742 -
Other creditors - 10
Credit Card 6,695 8,388
Accrued expenses 30,844 9,840
93,687 135,778

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Accruals and deferred income (39,705 ) -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Timothy Glen Norgate and Jayne Vivien Norgate
Balance outstanding at start of year 1,280,961 199,018
Amounts advanced - 1,135,191
Amounts repaid (588,145 ) (53,248 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 692,816 1,280,961

Dividends of £50,000 and Use of Home as Office of £1,040 were credited to the directors loan account during the year.Interest was charged on the overdrawn balance and debited to the account.

TGN CONSTRUCTION LIMITED (REGISTERED NUMBER: 05070019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr T G Norgate and Mrs J Norgate.