Company Registration No. 05670437 (England and Wales)
THOMAS ANDERSON STEELS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019
PAGES FOR FILING WITH REGISTRAR
THOMAS ANDERSON STEELS LIMITED
COMPANY INFORMATION
Director
Mr R T Anderson
Secretary
Mrs S Anderson
Company number
05670437
Registered office
12 A Kathleen Avenue
North Acton
London
W3 0NG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
69 Park Royal Road
Park Royal
London
NW10 7JR
THOMAS ANDERSON STEELS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
THOMAS ANDERSON STEELS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THOMAS ANDERSON STEELS LIMITED FOR THE YEAR ENDED 31 JANUARY 2019
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thomas Anderson Steels Limited for the year ended 31 January 2019 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Thomas Anderson Steels Limited, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Thomas Anderson Steels Limited
and state those matters that we have agreed to state to the Board of Directors of Thomas Anderson Steels Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thomas Anderson Steels Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Thomas Anderson Steels Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss of Thomas Anderson Steels Limited. You consider that Thomas Anderson Steels 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 financial statements of Thomas Anderson Steels 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 financial statements.
Ormerod Rutter Limited
18 July 2019
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THOMAS ANDERSON STEELS LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2019
31 January 2019
- 2 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,240
10,326
Current assets
Debtors
4
6,181
19,567
Cash at bank and in hand
197,337
250,390
203,518
269,957
Creditors: amounts falling due within one year
5
(211,414)
(187,813)
Net current (liabilities)/assets
(7,896)
82,144
Total assets less current liabilities
4,344
92,470
Provisions for liabilities
6
-
(1,962)
Net assets
4,344
90,508
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
4,343
90,507
Total equity
4,344
90,508
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THOMAS ANDERSON STEELS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2019
31 January 2019
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 18 July 2019.
Mr R T Anderson
Director
Company Registration No. 05670437
THOMAS ANDERSON STEELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019
- 4 -
1
Accounting policies
Company information
Thomas Anderson Steels Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
12 A Kathleen Avenue, North Acton, London, W3 0NG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable services provided in the normal course of business
, and
is shown net of VAT
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Computers
25% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
THOMAS ANDERSON STEELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2018 - 1).
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2018
3,475
2,843
19,700
26,018
Additions
-
-
5,995
5,995
At 31 January 2019
3,475
2,843
25,695
32,013
Depreciation and impairment
At 1 February 2018
3,122
1,981
10,589
15,692
Depreciation charged in the year
88
216
3,777
4,081
At 31 January 2019
3,210
2,197
14,366
19,773
Carrying amount
At 31 January 2019
265
646
11,329
12,240
At 31 January 2018
353
862
9,111
10,326
THOMAS ANDERSON STEELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
- 6 -
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
1,843
19,567
Other debtors
1,337
-
3,180
19,567
Amounts falling due after more than one year:
Deferred tax asset
3,001
-
Total debtors
6,181
19,567
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
2,567
4,118
Amounts owed to group undertakings
206,275
150,727
Corporation tax
-
20,212
Other taxation and social security
347
10,596
Other creditors
2,225
2,160
211,414
187,813
6
Provisions for liabilities
2019
2018
£
£
Deferred tax liabilities
-
1,962
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1
1
1
THOMAS ANDERSON STEELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
- 7 -
8
Related party transactions
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
.
9
Control
Ultimate parent company
The ultimate parent company is Alstone Holdings Limited, a company registered in England and Wales.
Ultimate controlling party
The ultimate controlling party is Mr R T Anderson by virtue of his controlling interest in the ultimate parent company.