IRIS Accounts Production v23.3.0.418 00383347 Board of Directors 30.3.22 29.3.23 29.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure003833472022-03-29003833472023-03-29003833472022-03-302023-03-29003833472021-03-29003833472021-03-302022-03-29003833472022-03-2900383347ns16:EnglandWales2022-03-302023-03-2900383347ns15:PoundSterling2022-03-302023-03-2900383347ns11:Director12022-03-302023-03-2900383347ns11:PrivateLimitedCompanyLtd2022-03-302023-03-2900383347ns11:SmallEntities2022-03-302023-03-2900383347ns11:AuditExempt-NoAccountantsReport2022-03-302023-03-2900383347ns11:SmallCompaniesRegimeForDirectorsReport2022-03-302023-03-2900383347ns11:SmallCompaniesRegimeForAccounts2022-03-302023-03-2900383347ns11:FullAccounts2022-03-302023-03-2900383347ns11:Director22022-03-302023-03-2900383347ns11:RegisteredOffice2022-03-302023-03-2900383347ns6:CurrentFinancialInstruments2023-03-2900383347ns6:CurrentFinancialInstruments2022-03-2900383347ns6:ShareCapital2023-03-2900383347ns6:ShareCapital2022-03-2900383347ns6:RetainedEarningsAccumulatedLosses2023-03-2900383347ns6:RetainedEarningsAccumulatedLosses2022-03-2900383347ns6:LeaseholdImprovements2022-03-302023-03-2900383347ns6:PlantMachinery2022-03-302023-03-2900383347ns6:FurnitureFittings2022-03-302023-03-2900383347ns6:LandBuildings2022-03-2900383347ns6:LeaseholdImprovements2022-03-2900383347ns6:PlantMachinery2022-03-2900383347ns6:FurnitureFittings2022-03-2900383347ns6:LandBuildings2022-03-302023-03-2900383347ns6:LandBuildings2023-03-2900383347ns6:LeaseholdImprovements2023-03-2900383347ns6:PlantMachinery2023-03-2900383347ns6:FurnitureFittings2023-03-2900383347ns6:LandBuildings2022-03-2900383347ns6:LeaseholdImprovements2022-03-2900383347ns6:PlantMachinery2022-03-2900383347ns6:FurnitureFittings2022-03-2900383347ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-03-2900383347ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2023-03-2900383347ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-03-2900383347ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-2900383347ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-2900383347ns6:AfterOneYearns6:Non-currentFinancialInstruments2023-03-2900383347ns6:AfterOneYearns6:Non-currentFinancialInstruments2022-03-2900383347ns11:Director112022-03-2900383347ns11:Director112021-03-2900383347ns11:Director112022-03-302023-03-2900383347ns11:Director112021-03-302022-03-2900383347ns11:Director112023-03-2900383347ns11:Director112022-03-29
REGISTERED NUMBER: 00383347 (England and Wales)














T A PRIESTLEY LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 MARCH 2023






T A PRIESTLEY LTD (REGISTERED NUMBER: 00383347)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


T A PRIESTLEY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 MARCH 2023







DIRECTORS: R A Priestley
Mrs T J Priestley





REGISTERED OFFICE: The Mantels
Littleside Road
Kirton Holme
Boston
Lincolnshire
PE20 1TD





REGISTERED NUMBER: 00383347 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

T A PRIESTLEY LTD (REGISTERED NUMBER: 00383347)

BALANCE SHEET
29 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 191,110 116,250

CURRENT ASSETS
Stocks 4 50,158 41,799
Debtors 5 85,918 166,343
Cash at bank 6,749 477
142,825 208,619
CREDITORS
Amounts falling due within one year 6 295,886 279,448
NET CURRENT LIABILITIES (153,061 ) (70,829 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,049

45,421

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 37,049 44,421
SHAREHOLDERS' FUNDS 38,049 45,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

T A PRIESTLEY LTD (REGISTERED NUMBER: 00383347)

BALANCE SHEET - continued
29 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





R A Priestley - Director


T A PRIESTLEY LTD (REGISTERED NUMBER: 00383347)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2023


1. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Improvements to property - 10% on cost
Plant and machinery - 15 - 30% on reducing balance
Fixtures and fittings - 10% on cost

Stocks
Stocks are valued by professional agricultural valuers in accordance with normal agricultural practice on a basis consistent with previous years.

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.

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.

T A PRIESTLEY LTD (REGISTERED NUMBER: 00383347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 MARCH 2023


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

3. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
At 30 March 2022 20,399 21,937 526,638 80,564 649,538
Additions - 92,926 - 22,424 115,350
Disposals - - (10 ) - (10 )
At 29 March 2023 20,399 114,863 526,628 102,988 764,878
DEPRECIATION
At 30 March 2022 - 21,476 431,248 80,564 533,288
Charge for year - 9,753 28,485 2,242 40,480
At 29 March 2023 - 31,229 459,733 82,806 573,768
NET BOOK VALUE
At 29 March 2023 20,399 83,634 66,895 20,182 191,110
At 29 March 2022 20,399 461 95,390 - 116,250

T A PRIESTLEY LTD (REGISTERED NUMBER: 00383347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 MARCH 2023


3. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 30 March 2022 67,000
Transfer to ownership (67,000 )
At 29 March 2023 -
DEPRECIATION
At 30 March 2022 27,135
Transfer to ownership (27,135 )
At 29 March 2023 -
NET BOOK VALUE
At 29 March 2023 -
At 29 March 2022 39,865

4. STOCKS
2023 2022
£    £   
Valuation 50,158 41,799

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 44,600 36,748
Other debtors 40,824 129,101
85,424 165,849

Amounts falling due after more than one year:
Other debtors 494 494

Aggregate amounts 85,918 166,343

T A PRIESTLEY LTD (REGISTERED NUMBER: 00383347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 MARCH 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 22,000
Trade creditors 130,430 74,930
Taxation and social security 9,869 8,348
Other creditors 155,587 174,170
295,886 279,448

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 22,000

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 March 2023 and 29 March 2022:

2023 2022
£    £   
R A Priestley
Balance outstanding at start of year 114,612 -
Amounts advanced 83,523 114,612
Amounts repaid (198,135 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 114,612