3 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01608221 2022-04-01 2023-03-31 01608221 2023-03-31 01608221 2022-03-31 01608221 2021-04-01 2022-03-31 01608221 2022-03-31 01608221 core:PlantMachinery 2022-04-01 2023-03-31 01608221 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 01608221 core:MotorVehicles 2022-04-01 2023-03-31 01608221 bus:RegisteredOffice 2022-04-01 2023-03-31 01608221 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 01608221 bus:Director1 2022-04-01 2023-03-31 01608221 bus:Director2 2022-04-01 2023-03-31 01608221 bus:Director3 2022-04-01 2023-03-31 01608221 bus:CompanySecretary1 2022-04-01 2023-03-31 01608221 core:PlantMachinery 2022-03-31 01608221 core:FurnitureFittingsToolsEquipment 2022-03-31 01608221 core:MotorVehicles 2022-03-31 01608221 core:PlantMachinery 2023-03-31 01608221 core:FurnitureFittingsToolsEquipment 2023-03-31 01608221 core:MotorVehicles 2023-03-31 01608221 core:WithinOneYear 2023-03-31 01608221 core:WithinOneYear 2022-03-31 01608221 core:ShareCapital 2023-03-31 01608221 core:ShareCapital 2022-03-31 01608221 core:RetainedEarningsAccumulatedLosses 2023-03-31 01608221 core:RetainedEarningsAccumulatedLosses 2022-03-31 01608221 core:PlantMachinery 2022-03-31 01608221 core:FurnitureFittingsToolsEquipment 2022-03-31 01608221 core:MotorVehicles 2022-03-31 01608221 bus:SmallEntities 2022-04-01 2023-03-31 01608221 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01608221 bus:FullAccounts 2022-04-01 2023-03-31 01608221 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01608221 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01608221 core:Associate1 2022-04-01 2023-03-31 01608221 core:Associate1 2021-04-01 2022-03-31 01608221 core:Associate1 2023-03-31 01608221 core:Associate1 2022-03-31 01608221 1 2022-04-01 2023-03-31
Company registration number: 01608221
J.R. Tyson (Powder Coating) Limited
Unaudited filleted financial statements
31 March 2023
J.R. Tyson (Powder Coating) Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
J.R. Tyson (Powder Coating) Limited
Directors and other information
Directors A Tyson
B Tyson
D Gilbert
Secretary Mrs D. Gilbert
Company number 01608221
Registered office 8/9 Rawreth Industrial Estate
Rayleigh
SS6 9RL
Business address 8/9 Rawreth Industrial Estate
Rayleigh
SS6 9RL
Accountants Hill Allen (Wickford) Ltd
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers Barclays Bank plc
63/65 High Street
Rayleigh
J.R. Tyson (Powder Coating) Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 48,866 72,030
_______ _______
48,866 72,030
Current assets
Debtors 6 6,708 6,700
Cash at bank and in hand 74,887 61,027
_______ _______
81,595 67,727
Creditors: amounts falling due
within one year 7 ( 121,277) ( 133,848)
_______ _______
Net current liabilities ( 39,682) ( 66,121)
_______ _______
Total assets less current liabilities 9,184 5,909
_______ _______
Net assets 9,184 5,909
_______ _______
Capital and reserves
Called up share capital 70 70
Profit and loss account 9,114 5,839
_______ _______
Shareholders funds 9,184 5,909
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
A Tyson B Tyson
Director Director
Company registration number: 01608221
J.R. Tyson (Powder Coating) Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 8/9 Rawreth Industrial Estate, Rayleigh, SS6 9RL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % straight line
Fittings fixtures and equipment - 20 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 and 31 March 2023 417,512 40,609 110,625 568,746
_______ _______ _______ _______
Depreciation
At 1 April 2022 368,610 38,085 90,022 496,717
Charge for the year 16,265 700 6,198 23,163
_______ _______ _______ _______
At 31 March 2023 384,875 38,785 96,220 519,880
_______ _______ _______ _______
Carrying amount
At 31 March 2023 32,637 1,824 14,405 48,866
_______ _______ _______ _______
At 31 March 2022 48,902 2,524 20,603 72,029
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors 6,708 6,700
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 7,008 7,534
Corporation tax 8,634 10,769
Social security and other taxes 13,972 11,194
Other creditors 91,663 104,351
_______ _______
121,277 133,848
_______ _______
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2023 2022 2023 2022
£ £ £ £
J R Tyson & Sons Ltd ( 112,312) ( 116,802) ( 92,123) ( 101,144)
_______ _______ _______ _______
The company derives its income from the provision of services to an associated company, J R Tyson & Sons Ltd, a company registered in England & Wales.
9. Controlling party
The company is under the control of the Tyson family .