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Registration number: 05701167

T & R Paving Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

T & R Paving Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

T & R Paving Limited

Company Information

Director

S Doherty

Registered office

Centurion House
London Road
Staines-Upon-Thames
Surrey
TW18 4AX

Accountants

Johnson Smith & Co Ltd
Chartered Accountants and Statutory Auditors
Centurion House
London Road
Staines-Upon-Thames
Surrey
TW18 4AX

 

T & R Paving Limited

(Registration number: 05701167)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

28,025

38,918

Current assets

 

Stocks

5

300

300

Debtors

6

1,638

14,338

Cash at bank and in hand

 

636,589

523,455

 

638,527

538,093

Creditors: Amounts falling due within one year

7

(60,127)

(40,734)

Net current assets

 

578,400

497,359

Net assets

 

606,425

536,277

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

606,325

536,177

Shareholders' funds

 

606,425

536,277

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2023
 

.........................................
S Doherty
Director

 

T & R Paving Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Centurion House
London Road
Staines-Upon-Thames
Surrey
TW18 4AX

These financial statements were authorised for issue by the director on 29 November 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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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

Going concern

The company's business activities, performance and position together with its principal risks and uncertainties are likely to affect its future development and performance. The director, having made enquiries and reviewed the forecasts and in light of the opportunities and facilities available, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, including reflecting on the impact of COVID 19. Therefore, it is reasonable to continue to adopt the going concern basis in preparing the Annual Report and Accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 for each of the company's 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.

 

T & R Paving Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Motor vehicles

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Operating leasing commitments

Rentals paid under the operating leases are charged to the profit and loss account on a straight line basis over the period of lease.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

T & R Paving Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

10,650

51,583

62,233

Disposals

-

(9,583)

(9,583)

At 28 February 2023

10,650

42,000

52,650

Depreciation

At 1 March 2022

9,495

13,820

23,315

Charge for the year

173

9,441

9,614

Eliminated on disposal

-

(8,304)

(8,304)

At 28 February 2023

9,668

14,957

24,625

Carrying amount

At 28 February 2023

982

27,043

28,025

At 28 February 2022

1,155

37,763

38,918

5

Stocks

2023
£

2022
£

Raw materials and consumables

300

300

6

Debtors

Current

2023
£

2022
£

Prepayments

1,638

-

Other debtors

-

14,338

 

1,638

14,338

 

T & R Paving Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

27,965

21,369

Accruals and deferred income

8,563

6,063

Other creditors

23,599

13,302

60,127

40,734

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

         

9

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of £Nil (2022 - £300.00) per each Ordinary

 

-

 

30,000