Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-04-01No description of principal activity3135truetrue 09377847 2023-04-01 2024-03-31 09377847 2022-04-01 2023-03-31 09377847 2024-03-31 09377847 2023-03-31 09377847 c:Director1 2023-04-01 2024-03-31 09377847 c:Director2 2023-04-01 2024-03-31 09377847 d:PlantMachinery 2023-04-01 2024-03-31 09377847 d:PlantMachinery 2024-03-31 09377847 d:PlantMachinery 2023-03-31 09377847 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09377847 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09377847 d:MotorVehicles 2023-04-01 2024-03-31 09377847 d:MotorVehicles 2024-03-31 09377847 d:MotorVehicles 2023-03-31 09377847 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09377847 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09377847 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09377847 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09377847 d:Goodwill 2023-04-01 2024-03-31 09377847 d:Goodwill 2024-03-31 09377847 d:Goodwill 2023-03-31 09377847 d:CurrentFinancialInstruments 2024-03-31 09377847 d:CurrentFinancialInstruments 2023-03-31 09377847 d:Non-currentFinancialInstruments 2024-03-31 09377847 d:Non-currentFinancialInstruments 2023-03-31 09377847 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09377847 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09377847 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09377847 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09377847 d:ShareCapital 2024-03-31 09377847 d:ShareCapital 2023-03-31 09377847 d:RetainedEarningsAccumulatedLosses 2024-03-31 09377847 d:RetainedEarningsAccumulatedLosses 2023-03-31 09377847 c:FRS102 2023-04-01 2024-03-31 09377847 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09377847 c:FullAccounts 2023-04-01 2024-03-31 09377847 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09377847 d:WithinOneYear 2024-03-31 09377847 d:WithinOneYear 2023-03-31 09377847 d:BetweenOneFiveYears 2024-03-31 09377847 d:BetweenOneFiveYears 2023-03-31 09377847 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 09377847 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09377847 7 2023-04-01 2024-03-31 09377847 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 09377847 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 09377847 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

09377847







TATE AND TONBRIDGE FENCING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MARCH 2024

































TATE AND TONBRIDGE FENCING LIMITED
REGISTERED NUMBER:09377847

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
49,000
58,800

Tangible assets
 5 
111,292
140,346

  
160,292
199,146

Current assets
  

Stocks
 6 
185,925
202,105

Debtors: amounts falling due within one year
 7 
163,218
147,492

Cash at bank and in hand
  
23,573
158,805

  
372,716
508,402

Creditors: amounts falling due within one year
 8 
(359,037)
(426,750)

Net current assets
  
 
 
13,679
 
 
81,652

Total assets less current liabilities
  
173,971
280,798

Creditors: amounts falling due after more than one year
 9 
-
(5,013)

Provisions for liabilities
  

Deferred tax
 10 
(26,601)
(34,056)

  
 
 
(26,601)
 
 
(34,056)

Net assets
  
147,370
241,729


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
147,369
241,728

  
147,370
241,729


Page 1

TATE AND TONBRIDGE FENCING LIMITED
REGISTERED NUMBER:09377847
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G. J. Tate
N. P. Tate
Director
Director


Date: 12 August 2024

The notes on pages 3 to 9 form part of these financial statements.
Page 2

TATE AND TONBRIDGE FENCING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Tate and Tonbridge Fencing Limited is a limited company domiciled and incorporated in England and Wales.
The address of its registered office is Yellowcoat Sawmill, Hastings Road, Flimwell, Wadhurst, East Sussex, TN5 7PR. 
The address of its principal place of business is Court Lane, Hadlow, Tonbridge, Kent, TN11 0DP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year the company has made a loss of £119,291 and has net current liabilities of £11,253.   Having taken into account all available information about the company’s trading prospects and cash flow requirements for 12 months from the date of approval of the financial statements, the directors consider that the company is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probably that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration recieved or recievable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised on the following bases:
Supply-only: revenue is recognised when the goods are collected or recieved by the customer.
I
nstallation: for smaller contracting jobs, revenue is recognised on completion of the work undertaken, whereas for the larger contracting jobs, revenue is recognised on a monthly basis for the work completed to date.

 
2.4

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of income and retained earnings over its useful economic life.

 The estimated useful lives range as follows:

Goodwill
-
10
years

Page 3

TATE AND TONBRIDGE FENCING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
15/25/33% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
 
 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

TATE AND TONBRIDGE FENCING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

 Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

 
2.12

 Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of income and retained earnings when the fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

 Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance sheet date.

 
2.14

 Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

TATE AND TONBRIDGE FENCING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 31 (2023 - 35).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
98,000



At 31 March 2024

98,000



Amortisation


At 1 April 2023
39,200


Charge for the year
9,800



At 31 March 2024

49,000



Net book value



At 31 March 2024
49,000



At 31 March 2023
58,800



Page 6

TATE AND TONBRIDGE FENCING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost


At 1 April 2023
51,813
258,022
309,835


Additions
8,582
3,623
12,205


Disposals
-
(15,411)
(15,411)



At 31 March 2024

60,395
246,234
306,629



Depreciation


At 1 April 2023
30,093
139,396
169,489


Charge for the year on owned assets
4,730
18,931
23,661


Charge for the year on financed assets
-
9,485
9,485


Disposals
-
(7,298)
(7,298)



At 31 March 2024

34,823
160,514
195,337



Net book value



At 31 March 2024
25,572
85,720
111,292



At 31 March 2023
21,720
118,626
140,346

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
32,482
41,967


6.


Stocks

2024
2023
£
£

Work in progress
85,212
126,057

Finished goods and goods for resale
100,713
76,048

185,925
202,105


Page 7

TATE AND TONBRIDGE FENCING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
116,321
115,689

Amounts owed by group undertakings
29,924
14,633

Trade debtors owed by related companies
1,156
7,986

Other debtors
1,831
-

Prepayments and accrued income
13,986
9,184

163,218
147,492



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
35,610
60,007

Amounts owed to group undertakings
-
70,527

Trade creditors owed to group undertakings
157,364
115,218

Corporation tax
-
16,338

Other taxation and social security
56,836
57,355

Obligations under finance lease and hire purchase contracts
-
16,315

Other creditors
5,396
4,120

Accruals and deferred income
103,831
86,870

359,037
426,750


Finance lease liabilities are secured on the assets to which they relate.  The aggregate secured debt at the year-end was £nil (2023: £21,328), of which £nil (2023: £16,315) is included in short-term creditors and £nil (2023: £5,013) is included in long-term creditors.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
5,013


Finance lease liabilities are secured on the assets to which they relate.  The aggregate secured debt at the year-end was £nil (2023: £21,328), of which £nil (2023: £16,315) is included in short-term creditors and £nil (2023: £5,013) is included in long-term creditors.

Page 8

TATE AND TONBRIDGE FENCING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024


£






At beginning of year
34,056


Charged to profit or loss
(7,455)



At end of year
26,601

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
26,601
34,056


11.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
66,773
80,128

Later than 1 year and not later than 5 years
-
66,773

66,773
146,901

 
Page 9