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Registered number: 04722979
Total Extraction Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Enterprise Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04722979
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 647,653 627,519
647,653 627,519
CURRENT ASSETS
Stocks 6 92,070 49,120
Debtors 7 461,003 465,425
Cash at bank and in hand 175,700 177,724
728,773 692,269
Creditors: Amounts Falling Due Within One Year 8 (684,192 ) (597,290 )
NET CURRENT ASSETS (LIABILITIES) 44,581 94,979
TOTAL ASSETS LESS CURRENT LIABILITIES 692,234 722,498
PROVISIONS FOR LIABILITIES
Deferred Taxation (43,911 ) (13,996 )
NET ASSETS 648,323 708,502
CAPITAL AND RESERVES
Called up share capital 9 20 20
Capital redemption reserve 300 300
Profit and Loss Account 648,003 708,182
SHAREHOLDERS' FUNDS 648,323 708,502
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Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Willis
Director
30/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Total Extraction Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04722979 . The registered office is 113 Blackburn Road, Rotherham, S61 2DW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Not depreciated
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 3 years straight line
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 25)
28 25
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 June 2023 478,748 95,061 304,500 41,140
Additions - - 74,969 -
As at 31 May 2024 478,748 95,061 379,469 41,140
Depreciation
As at 1 June 2023 7,129 67,042 188,534 29,798
Provided during the period - 5,604 47,734 1,643
As at 31 May 2024 7,129 72,646 236,268 31,441
Net Book Value
As at 31 May 2024 471,619 22,415 143,201 9,699
As at 1 June 2023 471,619 28,019 115,966 11,342
Computer Equipment Total
£ £
Cost
As at 1 June 2023 15,843 935,292
Additions 917 75,886
As at 31 May 2024 16,760 1,011,178
Depreciation
As at 1 June 2023 15,270 307,773
Provided during the period 771 55,752
As at 31 May 2024 16,041 363,525
Net Book Value
As at 31 May 2024 719 647,653
As at 1 June 2023 573 627,519
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6. Stocks
2024 2023
£ £
Materials 92,070 49,120
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 440,059 445,496
Other debtors 20,944 19,929
461,003 465,425
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 212,803 289,924
Amounts owed to group undertakings 401 639
Other creditors 10,612 4,812
Taxation and social security 460,376 301,915
684,192 597,290
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Total Extraction Solution Holdings Limited . Total Extraction Solution Holdings Limited was incorporated in England & Wales. The ultimate controlling party is the directors who controls 100% of the shares of Total Extraction Solutions Limited .
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