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REGISTERED NUMBER: 07960959 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

T C Skip Hire Ltd

T C Skip Hire Ltd (Registered number: 07960959)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


T C Skip Hire Ltd (Registered number: 07960959)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 876,779 629,189
876,779 629,189

CURRENT ASSETS
Stocks 8,000 5,000
Debtors 6 138,635 1,945
Cash at bank and in hand 732,230 863,145
878,865 870,090
CREDITORS
Amounts falling due within one year 7 384,276 345,057
NET CURRENT ASSETS 494,589 525,033
TOTAL ASSETS LESS CURRENT LIABILITIES 1,371,368 1,154,222

CREDITORS
Amounts falling due after more than one year 8 (88,043 ) -

PROVISIONS FOR LIABILITIES (94,974 ) (64,597 )
NET ASSETS 1,188,351 1,089,625

CAPITAL AND RESERVES
Called up share capital 84 84
Retained earnings 1,188,267 1,089,541
SHAREHOLDERS' FUNDS 1,188,351 1,089,625

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.

T C Skip Hire Ltd (Registered number: 07960959)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





Mr T Carter - Director


T C Skip Hire Ltd (Registered number: 07960959)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

T C Skip Hire Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07960959

Registered office: Brindley House
Brindley Lane
Stockton Brook
Staffordshire
ST9 9PL

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
Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, has been fully amortised

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


T C Skip Hire Ltd (Registered number: 07960959)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 20,000
AMORTISATION
At 1 April 2022
and 31 March 2023 20,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

T C Skip Hire Ltd (Registered number: 07960959)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2022 101,306 973,888 369,843 1,445,037
Additions - 329,158 126,982 456,140
Disposals - - (26,000 ) (26,000 )
At 31 March 2023 101,306 1,303,046 470,825 1,875,177
DEPRECIATION
At 1 April 2022 - 591,379 224,469 815,848
Charge for year - 142,334 61,589 203,923
Eliminated on disposal - - (21,373 ) (21,373 )
At 31 March 2023 - 733,713 264,685 998,398
NET BOOK VALUE
At 31 March 2023 101,306 569,333 206,140 876,779
At 31 March 2022 101,306 382,509 145,374 629,189

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 260,333
At 31 March 2023 260,333
DEPRECIATION
Charge for year 52,067
At 31 March 2023 52,067
NET BOOK VALUE
At 31 March 2023 208,266

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 126,470 1,945
Other debtors 12,165 -
138,635 1,945

T C Skip Hire Ltd (Registered number: 07960959)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 50,000
Hire purchase contracts 23,071 -
Trade creditors 49,897 283
Taxation and social security 46,943 47,954
Other creditors 254,365 246,820
384,276 345,057

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 22,498 -
Hire purchase contracts 65,545 -
88,043 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 88,616 -

The obligations under hire purchase are secured against the asset to which they relate.