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REGISTERED NUMBER: 03309948 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Tetley's Motor Services Limited

Tetley's Motor Services Limited (Registered number: 03309948)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tetley's Motor Services Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: I Tetley
Mrs A E Tetley





SECRETARY: Mrs A E Tetley





REGISTERED OFFICE: Hunslet Business Park
76 Goodman Street
Leeds
West Yorkshire
LS10 1NY





REGISTERED NUMBER: 03309948 (England and Wales)





ACCOUNTANTS: Hope Agar Limited
Chartered Accountants
24a Marsh Street
Rothwell
Leeds
LS26 0BB

Tetley's Motor Services Limited (Registered number: 03309948)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,829,596 1,659,509
1,829,596 1,659,509

CURRENT ASSETS
Stocks 11,706 23,545
Debtors 6 931,707 809,331
Cash at bank and in hand 2,186,278 1,539,925
3,129,691 2,372,801
CREDITORS
Amounts falling due within one year 7 572,387 428,030
NET CURRENT ASSETS 2,557,304 1,944,771
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,386,900

3,604,280

CREDITORS
Amounts falling due after more than one
year

8

(178,304

)

(130,137

)

PROVISIONS FOR LIABILITIES (150,477 ) (100,249 )
NET ASSETS 4,058,119 3,373,894

CAPITAL AND RESERVES
Called up share capital 1,012 1,012
Retained earnings 4,057,107 3,372,882
SHAREHOLDERS' FUNDS 4,058,119 3,373,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Tetley's Motor Services Limited (Registered number: 03309948)

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





I Tetley - Director


Tetley's Motor Services Limited (Registered number: 03309948)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Tetley's Motor Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents the invoiced value of services net of value added tax, in respect of the hire of coaches and is recognised in the profit and loss account at the date of departure.

Goodwill
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Acquisition of a business in 1997 - 20% on cost
Acquisition of a business in 2013 - 20% on cost

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 25% on cost, 25% on reducing balance, 15% on reducing balance and Straight line over 3 years

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 Statement of Income and Retained Earnings, 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.


Tetley's Motor Services Limited (Registered number: 03309948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2022 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 258,167
AMORTISATION
At 1 April 2022
and 31 March 2023 258,167
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Tetley's Motor Services Limited (Registered number: 03309948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 889,188 3,047,614 3,936,802
Additions - 520,582 520,582
Disposals - (226,680 ) (226,680 )
At 31 March 2023 889,188 3,341,516 4,230,704
DEPRECIATION
At 1 April 2022 - 2,277,293 2,277,293
Charge for year - 308,772 308,772
Eliminated on disposal - (184,957 ) (184,957 )
At 31 March 2023 - 2,401,108 2,401,108
NET BOOK VALUE
At 31 March 2023 889,188 940,408 1,829,596
At 31 March 2022 889,188 770,321 1,659,509

The freehold land and buildings were valued by the Directors at fair value at 31 March 2023.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022 255,000
Additions 329,198
Transfer to ownership (130,000 )
At 31 March 2023 454,198
DEPRECIATION
At 1 April 2022 88,125
Charge for year 105,737
Transfer to ownership (56,882 )
At 31 March 2023 136,980
NET BOOK VALUE
At 31 March 2023 317,218
At 31 March 2022 166,875

Tetley's Motor Services Limited (Registered number: 03309948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 241,786 266,706
Other debtors 689,921 542,625
931,707 809,331

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 50,000
Hire purchase contracts 171,173 97,032
Trade creditors 169,938 134,027
Taxation and social security 194,646 106,410
Other creditors 36,630 40,561
572,387 428,030

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 104,617 31,887
Other creditors 73,687 98,250
178,304 130,137

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
I Tetley and Mrs A E Tetley
Balance outstanding at start of year 325,940 431,441
Amounts advanced 105,870 -
Amounts repaid - (105,501 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 431,810 325,940

10. ULTIMATE CONTROLLING PARTY

Mr I Tetley is the ultimate controlling party.