Registered number
12455421
TC Carpentry And Building Limited
Filleted Accounts
28 February 2023
TC Carpentry And Building Limited
Registered number: 12455421
Balance Sheet
as at 28 February 2023
Restated
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,457 6,179
Current assets
Debtors 4 116,179 20,180
Cash at bank and in hand 4,689 59,916
120,868 80,096
Creditors: amounts falling due within one year 5 (82,672) (51,739)
Net current assets 38,196 28,357
Total assets less current liabilities 42,653 34,536
Creditors: amounts falling due after more than one year 6 (41,499) (16,810)
Provisions for liabilities (847) -
Net assets 307 17,726
Capital and reserves
Called up share capital 103 1
Profit and loss account 204 17,725
Shareholders' funds 307 17,726
The director is 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 director acknowledges his 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T C Campbell
Director
Approved by the board on 28 November 2023
TC Carpentry And Building Limited
Notes to the Accounts
for the year ended 28 February 2023
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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reduced balance method
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipment, fixtures & fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2022 707 1,250 8,995 10,952
At 28 February 2023 707 1,250 8,995 10,952
Depreciation
At 1 March 2022 354 483 3,936 4,773
Charge for the year 177 280 1,265 1,722
At 28 February 2023 531 763 5,201 6,495
Net book value
At 28 February 2023 176 487 3,794 4,457
At 28 February 2022 353 767 5,059 6,179
4 Debtors 2023 2022
£ £
Trade debtors 1,887 20,108
Other debtors 114,292 72
116,179 20,180
Amounts due after more than one year included above 26,020 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 29,863 4,440
Obligations under finance lease and hire purchase contracts 629 3,516
Trade creditors 18,817 7,565
Taxation and social security costs 33,363 11,218
Other creditors - 25,000
82,672 51,739
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 41,499 16,810
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
T C Campbell
Loan 1 - Interest charged at commercial rate - 87,056 - 87,056
- 87,056 - 87,056
8 Other information
TC Carpentry And Building Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Vantage Walk
St. Leonards-On-Sea
East Sussex
TN38 0YP
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