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Registration number: 06497348

TB Setting Out Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

TB Setting Out Services Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

TB Setting Out Services Limited

Company Information

Director

Mr Trevor Francis Boneham

Company secretary

Miss Maureen Teresa Boneham

Registered office

8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

Accountants

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

TB Setting Out Services Limited

Director's Report for the Year Ended 31 August 2023

The director presents his report and the financial statements for the year ended 31 August 2023.

Director of the company

The director who held office during the year was as follows:

Mr Trevor Francis Boneham

Principal activity

The principal activity of the company is that of civil engineering.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through the continued financial support of the director and bank. The director therefore considers it appropriate to prepare financial statements on a going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of financial support by the company's directors and bank.

Small companies provision statement

This report has 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.

Approved by the director on 12 August 2024 and signed on its behalf by:

.........................................
Mr Trevor Francis Boneham
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
TB Setting Out Services Limited
for the Year Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TB Setting Out Services Limited for the year ended 31 August 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of TB Setting Out Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of TB Setting Out Services Limited and state those matters that we have agreed to state to the Board of Directors of TB Setting Out Services Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TB Setting Out Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that TB Setting Out Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of TB Setting Out Services Limited. You consider that TB Setting Out Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of TB Setting Out Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

12 August 2024

 

TB Setting Out Services Limited

(Registration number: 06497348)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Current assets

 

Debtors

6

1,784

2,606

Cash at bank and in hand

 

2,773

8,466

 

4,557

11,072

Creditors: Amounts falling due within one year

7

(3,310)

(4,183)

Total assets less current liabilities

 

1,247

6,889

Creditors: Amounts falling due after more than one year

7

(4,333)

(6,333)

Net (liabilities)/assets

 

(3,086)

556

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

(3,087)

555

Shareholders' (deficit)/funds

 

(3,086)

556

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 12 August 2024
 

.........................................
Mr Trevor Francis Boneham
Director

 

TB Setting Out Services Limited

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:
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

These financial statements were authorised for issue by the director on 12 August 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Government grants

The accrual model is adopted for the recognition of grant income received.

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.

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.

 

TB Setting Out Services Limited

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

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 & Machinery

15% Reducing balance

Computer Equipment

3 Years straight line

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

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.

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.

 

TB Setting Out Services Limited

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

Financial instruments

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

3

Staff numbers

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

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

-

39

5

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2022

600

317

917

At 31 August 2023

600

317

917

Depreciation

At 1 September 2022

600

317

917

At 31 August 2023

600

317

917

Carrying amount

At 31 August 2023

-

-

-

6

Debtors

2023
£

2022
£

Prepayments

80

400

Other debtors

1,704

2,206

1,784

2,606

 

TB Setting Out Services Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

2,000

2,000

Trade creditors

 

90

-

Taxation and social security

 

2

1,025

Other creditors

 

1,218

1,158

 

3,310

4,183

Due after one year

 

Loans and borrowings

8

4,333

6,333

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

4,333

6,333

Current loans and borrowings

2023
£

2022
£

Bank borrowings

2,000

2,000

9

Related party transactions

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Loan to director

1,510

14,188

(15,412)

286

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 August 2022
£

Loan to director

4,240

24,345

(27,075)

1,510

 

Interest has been charged at HMRC's beneficial loan interest rates on balances in excess of £10,000. The loan is repayable on demand.

 

TB Setting Out Services Limited

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

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share class 1 of £1 each

1

1

1

1

       

11

Government grants

During the period the company received government grants in support of the pandemic Covid-19.
The amount of grants recognised in the financial statements was £Nil (2022 - £3,616).