Company registration number 02040523 (England and Wales)
TINKLERS (MOTORCYCLES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
TINKLERS (MOTORCYCLES) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TINKLERS (MOTORCYCLES) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
31 December 2022
31 January 2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
594,177
577,584
Current assets
Stocks
1,406,799
522,828
Debtors
4
170,658
406
Cash at bank and in hand
230,389
125,288
1,807,846
648,522
Creditors: amounts falling due within one year
5
(1,548,537)
(519,005)
Net current assets
259,309
129,517
Total assets less current liabilities
853,486
707,101
Creditors: amounts falling due after more than one year
6
(74,198)
(80,066)
Provisions for liabilities
(15,640)
(12,487)
Net assets
763,648
614,548
Capital and reserves
Called up share capital
2,001
2,001
Revaluation reserve
7
313,930
313,930
Profit and loss reserves
447,717
298,617
Total equity
763,648
614,548

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have 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.

TINKLERS (MOTORCYCLES) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 October 2023 and are signed on its behalf by:
Mrs AJ Newstead
Director
Company Registration No. 02040523
TINKLERS (MOTORCYCLES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

Tinklers (Motorcycles) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 182-190 Northumberland Street, Norwich, Norfolk, England, NR2 4EE.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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 for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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:

Freehold land and buildings
- 0% straight line
Leasehold improvements
- 0% straight line
Plant and equipment
- 15% straight line
Fixtures and fittings
- 15% reducing balance
Computers
- 33% or 50% straight line
Motor vehicles
- 25% straight line
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

TINKLERS (MOTORCYCLES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
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.

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.

1.7
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
11
11
TINKLERS (MOTORCYCLES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
511,864
224,546
736,410
Additions
-
0
29,619
29,619
At 31 December 2022
511,864
254,165
766,029
Depreciation and impairment
At 1 January 2022
-
0
158,826
158,826
Depreciation charged in the year
-
0
13,026
13,026
At 31 December 2022
-
0
171,852
171,852
Carrying amount
At 31 December 2022
511,864
82,313
594,177
At 31 December 2021
511,864
65,720
577,584
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
58,000
-
0
Other debtors
112,658
406
170,658
406
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
9,646
9,451
Trade creditors
1,487,623
439,900
Corporation tax
37,168
36,847
Other taxation and social security
7,317
20,095
Other creditors
6,783
12,712
1,548,537
519,005
TINKLERS (MOTORCYCLES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
25,195
35,036
Other creditors
49,003
45,030
74,198
80,066
7
Revaluation reserve
2022
2021
£
£
At the beginning and end of the year
313,930
313,930
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