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Registration number: 04511434

T G Ram Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

T G Ram Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

T G Ram Ltd

Company Information

Director

Mr C G Tilvar

Company secretary

Mrs G Tilvar

Registered office

Unit 67 Hallmark Trading Est
Fourth Way
Wembley
HA9 0LH

Accountants

Richlands Business Advisers Limited
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

T G Ram Ltd

(Registration number: 04511434)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,614,416

2,455,779

Investments

5

100

100

 

2,614,516

2,455,879

Current assets

 

Stocks

6

967,004

671,730

Debtors

7

3,816,772

3,868,625

Cash at bank and in hand

 

10,507,071

9,041,425

 

15,290,847

13,581,780

Creditors: Amounts falling due within one year

8

(2,082,822)

(2,281,560)

Net current assets

 

13,208,025

11,300,220

Total assets less current liabilities

 

15,822,541

13,756,099

Creditors: Amounts falling due after more than one year

8

-

(16,650)

Net assets

 

15,822,541

13,739,449

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

15,822,539

13,739,447

Shareholders' funds

 

15,822,541

13,739,449

For the financial year ending 31 August 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 and delivered 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 April 2024

.........................................

Mr C G Tilvar

Director

 

T G Ram Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Unit 67 Hallmark Trading Est
Fourth Way
Wembley
HA9 0LH
United Kingdom

These financial statements were authorised for issue by the director on 8 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 G Ram Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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

25% per annum on reducing balance

Office Equipment

25% per annum on straight line basis

Motor Vehicles

25% per annum on reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

T G Ram Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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.

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

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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

T G Ram Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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 15 (2022 - 11).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

1,247,919

2,023,221

1,818,534

5,089,674

Additions

-

152,177

469,940

622,117

Disposals

-

-

(23,852)

(23,852)

At 31 August 2023

1,247,919

2,175,398

2,264,622

5,687,939

Depreciation

At 1 September 2022

-

1,326,058

1,307,837

2,633,895

Charge for the year

-

215,922

244,359

460,281

Eliminated on disposal

-

-

(20,653)

(20,653)

At 31 August 2023

-

1,541,980

1,531,543

3,073,523

Carrying amount

At 31 August 2023

1,247,919

633,418

733,079

2,614,416

At 31 August 2022

1,247,919

697,163

510,697

2,455,779

Included within the net book value of land and buildings above is £1,247,919 (2022 - £1,247,919) in respect of freehold land and buildings.
 

 

T G Ram Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 September 2022

100

Carrying amount

At 31 August 2023

100

At 31 August 2022

100

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Corporate Benefits Limited

United Kingdom

Ordinary

100%

100%

Mill Hill International Limited

United Kingdom

Ordinary

100%

100%

TG RAM Mill Hill BJJ

United Kingdom

Ordinary

100%

100%

 

T G Ram Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Subsidiary undertakings

Corporate Benefits Limited

The principal activity of Corporate Benefits Limited is Other sports activities. Its financial period end is 28 February.

Mill Hill International Limited

The principal activity of Mill Hill International Limited is Sports and recreation education. Its financial period end is 30 June.

TG RAM Mill Hill BJJ

The principal activity of TG RAM Mill Hill BJJ is Other letting and operating of own or leased real estate. Its financial period end is 30 September.

6

Stocks

2023
£

2022
£

Work in progress

967,004

671,730

 

T G Ram Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

1,177,096

1,245,100

Amounts owed by related parties

11

2,256,276

2,211,137

Other debtors

 

299,990

326,263

Prepayments

 

83,410

86,125

Total current trade and other debtors

 

3,816,772

3,868,625

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Bank loans and overdrafts

10

16,650

22,200

Trade creditors

 

365,436

250,048

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

76,311

-

Taxation and social security

 

491,946

364,153

Other creditors

 

36,516

72,123

Accrued expenses

 

835,468

744,212

Corporation tax payable

 

256,805

824,614

Directors current account

 

3,690

4,210

 

2,082,822

2,281,560

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

10

-

16,650

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

T G Ram Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Finance lease liabilities

-

16,650

2023
£

2022
£

Current loans and borrowings

Finance lease liabilities

16,650

22,200

11

Related party transactions

Summary of transactions with other related parties


T G Ram (Homes) Limited, T G Ram (Mill Hill BJJ) Limited and Fourth Way Wembley Autos Limited
(Common directors)

 
T G Ram Ltd has lend funds to T G Ram (Homes) Limited. At the year-end, the balance due from T G Ram (Homes) Limited was £979,983.84 (2022: £970,293.37).

T G Ram Ltd has lend funds to T G Ram (Mill Hill BJJ) Limited. At the year-end, the balance due from T G Ram (Mill Hill BJJ) Limited was £1,220,837.57 (2022: £1,213,437.29).

At the year-end, T G Ram Ltd has made payments of £7,988.55 (2022: £7,273.55) on behalf of Fourth Way Wembley Autos Limited.