IRIS Accounts Production v23.3.1.45 SC050076 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0500762022-03-31SC0500762023-03-31SC0500762022-04-012023-03-31SC0500762021-03-31SC0500762021-04-012022-03-31SC0500762022-03-31SC050076ns10:Originalns15:Scotland2022-04-012023-03-31SC050076ns14:PoundSterlingns10:Original2022-04-012023-03-31SC050076ns10:Originalns10:Director12022-04-012023-03-31SC050076ns10:Original2022-04-012023-03-31SC050076ns10:Originalns10:Director22022-04-012023-03-31SC050076ns10:Original2023-03-31SC050076ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-31SC050076ns10:Originalns10:SmallEntities2022-04-012023-03-31SC050076ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC050076ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC050076ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31SC050076ns10:Originalns10:FullAccounts2022-04-012023-03-31SC050076ns10:Originalns10:RegisteredOffice2022-04-012023-03-31SC050076ns10:Original2022-03-31SC050076ns10:Originalns5:CurrentFinancialInstruments2023-03-31SC050076ns10:Originalns5:CurrentFinancialInstruments2022-03-31SC050076ns5:ShareCapitalns10:Original2023-03-31SC050076ns5:ShareCapitalns10:Original2022-03-31SC050076ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-31SC050076ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-31SC050076ns10:Originalns5:FurnitureFittings2022-04-012023-03-31SC050076ns10:Original2021-04-012022-03-31SC050076ns10:Originalns5:FurnitureFittings2022-03-31SC050076ns10:Originalns5:FurnitureFittings2023-03-31SC050076ns10:Originalns5:FurnitureFittings2022-03-31
REGISTERED NUMBER: SC050076 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

TRANS-GLOBAL ENGINEERING SERVICES
LIMITED

TRANS-GLOBAL ENGINEERING SERVICES
LIMITED (REGISTERED NUMBER: SC050076)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TRANS-GLOBAL ENGINEERING SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Agnes MacDonald
Stuart MacDonald



REGISTERED OFFICE: 28 Birch Brae
Silvertonhill
Hamilton
ML3 7LJ



REGISTERED NUMBER: SC050076 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: The Royal Bank of Scotland plc
Palace Towers
Palace Grounds Retail Park
Hamilton
ML3 6AP

TRANS-GLOBAL ENGINEERING SERVICES
LIMITED (REGISTERED NUMBER: SC050076)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 192 224

CURRENT ASSETS
Cash at bank 67,472 48,006

CREDITORS
Amounts falling due within one year 5 40,582 40,013
NET CURRENT ASSETS 26,890 7,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,082

8,217

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 26,982 8,117
SHAREHOLDERS' FUNDS 27,082 8,217

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.

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 10 November 2023 and were signed on its behalf by:



Stuart MacDonald - Director



Agnes MacDonald - Director


TRANS-GLOBAL ENGINEERING SERVICES
LIMITED (REGISTERED NUMBER: SC050076)

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


1. STATUTORY INFORMATION

Trans-Global Engineering Services Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Rendering of services
Turnover from the rendering of services, namely the provision of engineering services, is recognised by reference to the stage of completion of the service at the statement of financial position date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

TRANS-GLOBAL ENGINEERING SERVICES
LIMITED (REGISTERED NUMBER: SC050076)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the income statement over the relevant period using the effective interest method. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement 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 the income statement in the period to which they relate.

TRANS-GLOBAL ENGINEERING SERVICES
LIMITED (REGISTERED NUMBER: SC050076)

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


2. ACCOUNTING POLICIES - continued

Provision for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 8,361
DEPRECIATION
At 1 April 2022 8,137
Charge for year 32
At 31 March 2023 8,169
NET BOOK VALUE
At 31 March 2023 192
At 31 March 2022 224

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Corporation tax 4,351 1,764
P.A.Y.E. and N.I.C. 1,127 1,471
VAT 185 369
Other creditors 402 201
Directors' loan 25,197 31,942
Accrued charges 9,320 4,266
40,582 40,013

6. RELATED PARTY DISCLOSURES

During the year, the company received interest free loans from the directors amounting to £25,197 (2022 : £31,942).