8 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 00911349 2022-07-01 2023-06-30 00911349 2023-06-30 00911349 2022-06-30 00911349 2021-07-01 2022-06-30 00911349 2022-06-30 00911349 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 00911349 core:PlantMachinery 2022-07-01 2023-06-30 00911349 core:MotorVehicles 2022-07-01 2023-06-30 00911349 bus:Director1 2022-07-01 2023-06-30 00911349 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 00911349 core:PlantMachinery 2022-06-30 00911349 core:MotorVehicles 2022-06-30 00911349 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 00911349 core:PlantMachinery 2023-06-30 00911349 core:MotorVehicles 2023-06-30 00911349 core:WithinOneYear 2023-06-30 00911349 core:WithinOneYear 2022-06-30 00911349 core:AfterOneYear 2023-06-30 00911349 core:AfterOneYear 2022-06-30 00911349 core:ShareCapital 2023-06-30 00911349 core:ShareCapital 2022-06-30 00911349 core:RetainedEarningsAccumulatedLosses 2023-06-30 00911349 core:RetainedEarningsAccumulatedLosses 2022-06-30 00911349 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 00911349 core:PlantMachinery 2022-06-30 00911349 core:MotorVehicles 2022-06-30 00911349 bus:SmallEntities 2022-07-01 2023-06-30 00911349 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 00911349 bus:FullAccounts 2022-07-01 2023-06-30 00911349 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 00911349 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 00911349 core:ComputerEquipment 2022-07-01 2023-06-30 00911349 core:ComputerEquipment 2022-06-30 00911349 core:ComputerEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 00911349
TYREP LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
TYREP LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
92,542
93,181
CURRENT ASSETS
Stocks
2,500
2,170
Debtors
6
87,709
98,685
Cash at bank and in hand
48,387
46,381
---------
---------
138,596
147,236
CREDITORS: amounts falling due within one year
7
55,783
65,971
---------
---------
NET CURRENT ASSETS
82,813
81,265
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
175,355
174,446
CREDITORS: amounts falling due after more than one year
8
30,822
30,063
---------
---------
NET ASSETS
144,533
144,383
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
9,999
9,999
Profit and loss account
134,534
134,384
---------
---------
SHAREHOLDERS FUNDS
144,533
144,383
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TYREP LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 5 October 2023 , and are signed on behalf of the board by:
Mr J P Ingham
Director
Company registration number: 00911349
TYREP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 7 Shelton Court, Shelton Road, Corby, Northamptonshire, NN17 1YU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
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.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Freehold property
-
10% reducing balance
Plant and machinery
-
10% reducing balance
Motor vehicles
-
20% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 8 (2022: 8 ).
5. TANGIBLE ASSETS
Freehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 July 2022
3,523
45,161
128,135
1,318
178,137
Additions
25,990
25,990
Disposals
( 21,724)
( 21,724)
-------
--------
---------
-------
---------
At 30 June 2023
3,523
45,161
132,401
1,318
182,403
-------
--------
---------
-------
---------
Depreciation
At 1 July 2022
3,142
30,609
50,605
600
84,956
Charge for the year
38
1,455
19,641
180
21,314
Disposals
( 16,409)
( 16,409)
-------
--------
---------
-------
---------
At 30 June 2023
3,180
32,064
53,837
780
89,861
-------
--------
---------
-------
---------
Carrying amount
At 30 June 2023
343
13,097
78,564
538
92,542
-------
--------
---------
-------
---------
At 30 June 2022
381
14,552
77,530
718
93,181
-------
--------
---------
-------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
87,022
96,194
Other debtors
687
2,491
--------
--------
87,709
98,685
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,279
9,328
Corporation tax
133
133
Social security and other taxes
32,456
34,630
Other creditors
15,915
21,880
--------
--------
55,783
65,971
--------
--------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Other creditors
30,822
30,063
--------
--------