Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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39,673 | 22,378 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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602,015 | 826,280 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 306,155 | 239,263 | ||
Total assets less current liabilities | 345,828 | 261,641 | ||
Creditors | ||||
Amounts falling due after more than one year | 6 | (
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Provisions for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Stormseal (South West) Limited (registered number:
Mr R G Hodgson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Stormseal (South West) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 9b Forresters Business Park, Estover Close, Plymouth, PL6 7PL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Plant and machinery |
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Vehicles |
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Office equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery | Vehicles | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 March 2021 |
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Additions |
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Disposals |
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At 28 February 2022 |
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Accumulated depreciation | |||||||
At 01 March 2021 |
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Charge for the financial year |
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Disposals |
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At 28 February 2022 |
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Net book value | |||||||
At 28 February 2022 |
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At 28 February 2021 |
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2022 | 2021 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Other creditors |
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Corporation tax |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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2022 | 2021 | ||
£ | £ | ||
Bank loans |
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Obligations under finance leases and hire purchase contracts (secured) |
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179,233 | 207,340 |
2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Commitments
Capital commitments are as follows:
2022 | 2021 | ||
£ | £ | ||
Contracted for but not provided for: | |||
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Parent Company:
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These financial statements are available upon request from Companies House. Team Conqueror Limited has registered offices at C/O Francis Clark LLP, North Quay House, Sutton Harbour, Plymouth, PL4 0R. The principal place of business for the company is Unit 9b Forresters Business Park, Estover Close, Plymouth, PL6 7PL, United Kingdom. |