Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 5 |
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520,927 | 467,307 | |||
Current assets | ||||
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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3,396,591 | 2,715,332 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current assets | 2,106,750 | 1,961,642 | ||
Total assets less current liabilities | 2,627,677 | 2,428,949 | ||
Creditors: amounts falling due after more than one year | 9 | (
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Provision for liabilities | 10 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 11 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Total Reinstatement Services Limited (registered number:
Mr BC Gillies
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Total Reinstatement Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael Unit 2a, The Paddock, Stirling Agricultural Centre, Stirling, FK9 4RN, Scotland, United Kingdom. The principal place of business is Queenshaugh Farm, PO Box 21038, Stirling, Stirlingshire, United Kingdom, FK8 1XJ.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Goodwill |
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Leasehold improvements |
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Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 September 2022 |
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At 31 August 2023 |
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Accumulated amortisation | |||
At 01 September 2022 |
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At 31 August 2023 |
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Net book value | |||
At 31 August 2023 |
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At 31 August 2022 |
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Leasehold improve- ments |
Plant and machinery | Vehicles | Fixtures and fittings | Total | |||||
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Cost | |||||||||
At 01 September 2022 |
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Additions |
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Disposals |
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At 31 August 2023 |
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Accumulated depreciation | |||||||||
At 01 September 2022 |
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Charge for the financial year |
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Disposals |
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At 31 August 2023 |
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Net book value | |||||||||
At 31 August 2023 |
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At 31 August 2022 |
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2023 | 2022 | ||
£ | £ | ||
Stocks |
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Work in progress |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by directors |
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Prepayments |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Accruals |
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Taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Obligations under finance leases and hire purchase contracts (secured) |
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2023 | 2022 | ||
£ | £ | ||
Deferred tax |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with entities in which the entity itself has a participating interest
2023 | 2022 | ||
£ | £ | ||
Burnside Holdings Limited | (221,696) | 5,000 |
The loan is unsecured, interest free and is repayable on demand.
Transactions with the entity's directors
2023 | 2022 | ||
£ | £ | ||
Directors Loan Account | 145,848 | 48 |
The loan is unsecured and is repayable on demand. Interest is charged at 2%, during the year interest in the sum of £1,271 (2022 - £635) was paid.
Parent Company:
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C/O Johnston Carmichael, Unit 2a, The Paddock, Stirling Agricultural Centre, Stirling, Scotland, FK9 4RN |