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REGISTERED NUMBER: 04575243 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

FOR

TONY STYCHE LIMITED

TONY STYCHE LIMITED (REGISTERED NUMBER: 04575243)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TONY STYCHE LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2022







DIRECTORS: A G Styche
Mrs D Styche





SECRETARY: Mrs D Styche





REGISTERED OFFICE: Manor Farm
Ryehill
Hull
HU12 9NH





REGISTERED NUMBER: 04575243 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

TONY STYCHE LIMITED (REGISTERED NUMBER: 04575243)

BALANCE SHEET
31 January 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 41,673 36,012
41,673 36,012

CURRENT ASSETS
Stocks 5,879 5,965
Debtors 6 7,413 10,480
Cash at bank and in hand 107,567 99,536
120,859 115,981
CREDITORS
Amounts falling due within one year 7 48,000 49,971
NET CURRENT ASSETS 72,859 66,010
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,532

102,022

CREDITORS
Amounts falling due after more than one year 8 (15,000 ) (15,000 )

PROVISIONS FOR LIABILITIES (3,485 ) (4,651 )
NET ASSETS 96,047 82,371

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 95,947 82,271
SHAREHOLDERS' FUNDS 96,047 82,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

TONY STYCHE LIMITED (REGISTERED NUMBER: 04575243)

BALANCE SHEET - continued
31 January 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2022 and were signed on its behalf by:




A G Styche - Director



Mrs D Styche - Director


TONY STYCHE LIMITED (REGISTERED NUMBER: 04575243)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2022


1. STATUTORY INFORMATION

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

The financial statements are presented in Sterling, which is the functional currency of the company.

The principal activity of the company is that of Agricultural Machinery Engineers.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company including the impact of Covid-19, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. The company has suffered a period of difficult trade due to Covid-19 but has utilised the government support available and the directors are confident that the position of the company going forward will be positive.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on a reducing balance basis and 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


TONY STYCHE LIMITED (REGISTERED NUMBER: 04575243)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2022


2. ACCOUNTING POLICIES - continued
Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2021
and 31 January 2022 30,000
AMORTISATION
At 1 February 2021
and 31 January 2022 30,000
NET BOOK VALUE
At 31 January 2022 -
At 31 January 2021 -

TONY STYCHE LIMITED (REGISTERED NUMBER: 04575243)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2022


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2021 35,297 74,108 109,405
Additions - 10,500 10,500
At 31 January 2022 35,297 84,608 119,905
DEPRECIATION
At 1 February 2021 11,490 61,903 73,393
Charge for year 476 4,363 4,839
At 31 January 2022 11,966 66,266 78,232
NET BOOK VALUE
At 31 January 2022 23,331 18,342 41,673
At 31 January 2021 23,807 12,205 36,012

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 7,205 8,894
Other debtors 208 1,586
7,413 10,480

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 436 246
Tax 1,580 7,450
Social security and other taxes 533 507
VAT 5,218 3,811
Directors' current accounts 38,506 36,592
Accrued expenses 1,727 1,365
48,000 49,971

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Directors subordinated loans 15,000 15,000

TONY STYCHE LIMITED (REGISTERED NUMBER: 04575243)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2022


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in long term creditors is a loan to the company from the director, A G Styche, amounting to £15,000 (2021 £15,000). This loan is not due for repayment until written notice is received from the director which shall not be less than 12 months prior to repayment. The loan does not accrue interest.

The company also owed A G Styche and Mrs D Styche £38,506 (2022 £36,592) which is shown in creditors falling due within one year. This loan is interest free and repayable on demand.