Registered number
03294000
Year end:
31 December 2023
TUSKAR CONSTRUCTION SERVICES LTD
UNAUDITED FILLETED ACCOUNTS
FOR THE YEAR
ENDED 31 DECEMBER 2023
TUSKAR CONSTRUCTION SERVICES LTD
Registered number: 03294000
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
FIXED ASSETS
Tangible assets 3 961,295 1,001,796
CURRENT ASSETS
Debtors 4 701,820 77,963
Cash at bank and in hand 161,918 691,251
863,738 769,214
CREDITORS: amounts falling due within one year 5 (74,963) (70,509)
NET CURRENT ASSETS 788,775 698,705
TOTAL ASSETS LESS CURRENT LIABILITIES 1,750,070 1,700,501
Provisions for liabilities (58,579) (52,215)
NET ASSETS £1,691,491 £1,648,286
CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 6 269,340 311,641
Profit and loss account 1,422,141 1,336,635
SHAREHOLDERS' FUNDS £1,691,491 £1,648,286
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account is not delivered to Companies House.
Mr J G Murphy
Director
Approved by the board on 27 November 2024
TUSKAR CONSTRUCTION SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2023
1 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover from the sale of any goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets
Investment property is valued by the directors on an open market basis and a fair value is arrived at with reference to a house price index relating to the appropriate region. Changes in valuation are included in the profit and loss account and deferred tax is provided in accordance with the Financial Reporting Standard. Non distributable reserves that arise from changes in valuation after related tax provisions are transferred to the fair value reserve. Tangible assets other than Investment property are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Owned equipment etc. 15% on a reducing balance basis
Motor vehicles 25% on a reducing balance basis
Deferred Taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on a non-discounted basis at the tax rates which are expected to apply in the periods when the timing differences are expected to reverse.
Pensions
Contributions to defined contribution plans are charged to the profit and loss account in the period in which they are paid.
2 EMPLOYEES 2023 2022
Number Number
Average number of persons employed by the company 6 6
TUSKAR CONSTRUCTION SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2023
3 TANGIBLE FIXED ASSETS
Investment Property Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 982,000 34,067 35,640 1,051,707
Surplus on revaluation (36,000) - - (36,000)
At 31 December 2023 946,000 34,067 35,640 1,015,707
Depreciation
At 1 January 2023 - 29,586 20,325 49,911
Charge for the year - 672 3,829 4,501
At 31 December 2023 - 30,258 24,154 54,412
Net book value
At 31 December 2023 £ 946,000 £ 3,809 £ 11,486 £ 961,295
At 31 December 2022 £ 982,000 £ 4,481 £ 15,315 £1,001,796
2023 2022
Freehold land and buildings: £ £
Historical cost 621,905 621,905
£ 621,905 £ 621,905
The fair value of investment property is £946,000 and a deficit on revaluation of £36,000
has been included in the profit and loss account (2022 - surplus of £40,000).
4 DEBTORS 2023 2022
£ £
Trade debtors - 3,000
Amounts recoverable on contracts 34,897 66,751
Directors' loans 662,273 2,204
Other debtors 4,650 6,008
£ 701,820 £ 77,963
Amounts due after more than one year included above £ 716 £ 716
TUSKAR CONSTRUCTION SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2023
5 CREDITORS: amounts falling due within one year 2023 2022
£ £
Trade creditors 18,979 31,293
Corporation tax 49,735 23,257
Other taxes and social security costs 4,533 14,193
Other creditors 1,716 1,766
£ 74,963 £ 70,509
6 FAIR VALUE RESERVE FOR INVESTMENT PROPERTY 2023 2022
£ £
At 1 January 2023 311,641 279,241
Transfers (to)/from profit and loss account (42,301) 32,400
At 31 December 2023 £ 269,340 £ 311,641
7 LOANS TO DIRECTORS
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr J G Murphy
Director's loan with interest charged at rates applied to beneficial loans for tax purposes 2,204 660,069 - 662,273
£ 2,204 £ 660,069 £ - £ 662,273
8 CONTROLLING PARTY
At the date of approval of these financial statements Mr J G Murphy controls the company by virtue of his holding 60% of the issued share capital.
TUSKAR CONSTRUCTION SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2023
9 OTHER INFORMATION
Tuskar Construction Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Botley Lane
Chesham
Buckinghamshire
HP5 1XS
The accounts are for the individual company and are presented in Sterling which is the functional currency of the company.
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