IRIS Accounts Production v24.2.0.383 05128031 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh051280312022-12-31051280312023-12-31051280312023-01-012023-12-31051280312021-12-31051280312022-01-012022-12-31051280312022-12-3105128031ns15:EnglandWales2023-01-012023-12-3105128031ns14:PoundSterling2023-01-012023-12-3105128031ns10:Director12023-01-012023-12-3105128031ns10:Director22023-01-012023-12-3105128031ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105128031ns10:SmallEntities2023-01-012023-12-3105128031ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105128031ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105128031ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105128031ns10:FullAccounts2023-01-012023-12-310512803112023-01-012023-12-3105128031ns10:RegisteredOffice2023-01-012023-12-3105128031ns5:CurrentFinancialInstruments2023-12-3105128031ns5:CurrentFinancialInstruments2022-12-3105128031ns5:Non-currentFinancialInstruments2023-12-3105128031ns5:Non-currentFinancialInstruments2022-12-3105128031ns5:ShareCapital2023-12-3105128031ns5:ShareCapital2022-12-3105128031ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105128031ns5:PlantMachinery2023-01-012023-12-3105128031ns5:FurnitureFittings2023-01-012023-12-3105128031ns5:MotorVehicles2023-01-012023-12-3105128031ns5:ComputerEquipment2023-01-012023-12-3105128031ns5:NetGoodwill2022-12-3105128031ns5:NetGoodwill2023-12-3105128031ns5:NetGoodwill2022-12-3105128031ns5:LeaseholdImprovements2022-12-3105128031ns5:PlantMachinery2022-12-3105128031ns5:FurnitureFittings2022-12-3105128031ns5:LeaseholdImprovements2023-01-012023-12-3105128031ns5:LeaseholdImprovements2023-12-3105128031ns5:PlantMachinery2023-12-3105128031ns5:FurnitureFittings2023-12-3105128031ns5:LeaseholdImprovements2022-12-3105128031ns5:PlantMachinery2022-12-3105128031ns5:FurnitureFittings2022-12-3105128031ns5:MotorVehicles2022-12-3105128031ns5:ComputerEquipment2022-12-3105128031ns5:MotorVehicles2023-12-3105128031ns5:ComputerEquipment2023-12-3105128031ns5:MotorVehicles2022-12-3105128031ns5:ComputerEquipment2022-12-3105128031ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3105128031ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3105128031ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3105128031ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3105128031ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105128031ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105128031ns5:PreviouslyStatedAmountns5:RetainedEarningsAccumulatedLosses2022-12-3105128031ns5:PriorPeriodIncreaseDecreasens5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3105128031ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3105128031ns5:RetainedEarningsAccumulatedLosses2023-12-31051280311ns10:Director12022-12-31051280311ns10:Director12021-12-31051280311ns10:Director12023-01-012023-12-31051280311ns10:Director12022-01-012022-12-31051280311ns10:Director12023-12-31051280311ns10:Director12022-12-3105128031ns10:Director222022-12-3105128031ns10:Director222021-12-3105128031ns10:Director222023-01-012023-12-3105128031ns10:Director222022-01-012022-12-3105128031ns10:Director222023-12-3105128031ns10:Director222022-12-31
REGISTERED NUMBER: 05128031 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

TG Escapes Ltd

TG Escapes Ltd (Registered number: 05128031)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TG Escapes Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R J Harvey
K G Stokes





REGISTERED OFFICE: Unit A Dutton Road
Aldermans Green Industrial Estate
Coventry
West Midlands
CV2 2LE





REGISTERED NUMBER: 05128031 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

TG Escapes Ltd (Registered number: 05128031)

Balance Sheet
31 December 2023

31.12.23 31.12.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 304,920 225,121
304,920 225,121

CURRENT ASSETS
Stocks 6 405,504 1,613,040
Debtors 7 2,191,326 1,542,415
Cash at bank 659,946 63,503
3,256,776 3,218,958
CREDITORS
Amounts falling due within one year 8 1,617,544 2,065,085
NET CURRENT ASSETS 1,639,232 1,153,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,944,152

1,378,994

CREDITORS
Amounts falling due after more than one
year

9

(201,970

)

(153,790

)

PROVISIONS FOR LIABILITIES (63,308 ) (48,828 )
NET ASSETS 1,678,874 1,176,376

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 11 1,678,771 1,176,273
1,678,874 1,176,376

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TG Escapes Ltd (Registered number: 05128031)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2024 and were signed on its behalf by:




K G Stokes - Director



R J Harvey - Director


TG Escapes Ltd (Registered number: 05128031)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

TG Escapes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company is engaged in the construction of timber framed buildings which are deemed to be long term contracts to the company. As a result, the company recognises cost and income in proportion to the proportion of contract works which have been undertaken at the balance sheet date.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to labour and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TG Escapes Ltd (Registered number: 05128031)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1,000
AMORTISATION
At 1 January 2023
and 31 December 2023 1,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

TG Escapes Ltd (Registered number: 05128031)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 51,476 117,573 17,620
Additions 18,801 - 2,221
Disposals - - -
At 31 December 2023 70,277 117,573 19,841
DEPRECIATION
At 1 January 2023 41,387 52,152 12,397
Charge for year 5,221 13,084 1,085
Eliminated on disposal - - -
At 31 December 2023 46,608 65,236 13,482
NET BOOK VALUE
At 31 December 2023 23,669 52,337 6,359
At 31 December 2022 10,089 65,421 5,223

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 181,398 54,267 422,334
Additions 145,483 10,134 176,639
Disposals (43,774 ) - (43,774 )
At 31 December 2023 283,107 64,401 555,199
DEPRECIATION
At 1 January 2023 62,938 28,339 197,213
Charge for year 41,789 15,859 77,038
Eliminated on disposal (23,972 ) - (23,972 )
At 31 December 2023 80,755 44,198 250,279
NET BOOK VALUE
At 31 December 2023 202,352 20,203 304,920
At 31 December 2022 118,460 25,928 225,121

TG Escapes Ltd (Registered number: 05128031)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 130,524
Additions 140,850
Disposals (22,000 )
At 31 December 2023 249,374
DEPRECIATION
At 1 January 2023 49,307
Charge for year 32,044
Eliminated on disposal (15,467 )
At 31 December 2023 65,884
NET BOOK VALUE
At 31 December 2023 183,490
At 31 December 2022 81,217

6. STOCKS
31.12.23 31.12.22
as restated
£    £   
Stocks 106,243 165,926
Work-in-progress 299,261 1,447,114
405,504 1,613,040

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Trade debtors 1,717,252 1,085,531
Amounts owed by group undertakings 314,474 307,126
Other debtors 159,600 149,758
2,191,326 1,542,415

TG Escapes Ltd (Registered number: 05128031)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans and overdrafts 50,004 260,913
Hire purchase contracts 42,815 45,354
Trade creditors 781,665 612,449
Amounts owed to group undertakings 27,472 -
Taxation and social security 456,913 518,697
Other creditors 258,675 627,672
1,617,544 2,065,085

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans 74,986 124,990
Hire purchase contracts 126,984 28,800
201,970 153,790

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
as restated
£    £   
Hire purchase contracts 169,799 74,154

The hire purchase creditor is secured upon the individual asset purchased. The bank overdraft facility is secured by a fixed charge over the assets of the company as well as a corporate cross guarantee held over the assets of the parent company Inspire ED Ltd in addition to a legal first charge over the leasehold property owned by the holding company Inspire ED Ltd at Aldermans Green Road, Coventry.

11. RESERVES
Retained
earnings
£   

At 1 January 2023 1,662,533
Prior year adjustment (486,260 )
1,176,273
Profit for the year 842,498
Dividends (340,000 )
At 31 December 2023 1,678,771

TG Escapes Ltd (Registered number: 05128031)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
as restated
£    £   
K G Stokes
Balance outstanding at start of year 16,654 (39,498 )
Amounts advanced 210,311 176,152
Amounts repaid (120,000 ) (120,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 106,965 16,654

R J Harvey
Balance outstanding at start of year 53,780 (51,530 )
Amounts advanced 131,997 349,124
Amounts repaid (223,096 ) (243,814 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (37,319 ) 53,780

The above balances are fully repaid following the year end and are charged the HMRC official rates of interest.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R J Harvey as part of his overall control of the ultimate parent company Inspire ED Limited.