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Registration number: 11053204

Tatton Fencing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Tatton Fencing Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Tatton Fencing Ltd

Company Information

Director

Christopher John Vincent

Registered office

Green Gables
Holmes Chapel Road
Lach Dennis
Nortwich
Cheshire
CW9 7SZ

Accountants

Beans Accountants Ltd
Chartered Accountant
Suite F/22
The White House
Greenalls Avenue
Warrington
Cheshire
WA4 6HL

 

Tatton Fencing Ltd

(Registration number: 11053204)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

20,781

16,600

Current assets

 

Debtors

5

38,122

98,200

Cash at bank and in hand

 

102,871

84,170

 

140,993

182,370

Creditors: Amounts falling due within one year

6

(134,690)

(150,320)

Net current assets

 

6,303

32,050

Total assets less current liabilities

 

27,084

48,650

Creditors: Amounts falling due after more than one year

6

(15,796)

(25,627)

Net assets

 

11,288

23,023

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

11,188

22,923

Shareholders' funds

 

11,288

23,023

For the financial year ending 30 November 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 23 April 2024
 

.........................................
Christopher John Vincent
Director

 

Tatton Fencing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
Green Gables
Holmes Chapel Road
Lach Dennis
Nortwich
Cheshire
CW9 7SZ

These financial statements were authorised for issue by the director on 23 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Tatton Fencing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

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

Computer Equipment

Straight Line over 3 years

Office Equipment

Straight Line over 5 years

Motor vehicles

Straight Line over 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Tatton Fencing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2022 - 11).

 

Tatton Fencing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

18,862

48,598

67,460

Additions

1,300

19,200

20,500

At 30 November 2023

20,162

67,798

87,960

Depreciation

At 1 December 2022

13,078

37,782

50,860

Charge for the year

4,137

12,182

16,319

At 30 November 2023

17,215

49,964

67,179

Carrying amount

At 30 November 2023

2,947

17,834

20,781

At 30 November 2022

5,784

10,816

16,600

5

Debtors

Current

2023
£

2022
£

Trade debtors

35,062

94,403

Prepayments

2,993

3,797

Other debtors

67

-

 

38,122

98,200

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,855

9,855

Trade creditors

 

41,516

65,981

Taxation and social security

 

45,951

51,379

Other creditors

 

37,368

23,105

 

134,690

150,320

 

Tatton Fencing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

15,796

25,627

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

£1 Ordinary Shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

15,796

25,627

Current loans and borrowings

2023
£

2022
£

Bank borrowings

9,855

9,855

9

Dividends

2023

2022

£

£

Interim dividend of £586.00 (2022 - £490.00) per ordinary share

58,600

49,000

 

 

10

Related party transactions

 

Tatton Fencing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

10

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

19,348

11,124

Contributions paid to money purchase schemes

-

5,018

19,348

16,142