IRIS Accounts Production v23.3.0.418 00877069 Board of Directors 1.7.22 30.6.23 30.6.23 true false true true false false true false Ordinary "A" 1.00000 Ordinary "B" 1.00000 Ordinary "C" 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh008770692022-06-30008770692023-06-30008770692022-07-012023-06-30008770692021-06-30008770692021-07-012022-06-30008770692022-06-3000877069ns10:Originalns15:EnglandWales2022-07-012023-06-3000877069ns14:PoundSterlingns10:Original2022-07-012023-06-3000877069ns10:Originalns10:Director12022-07-012023-06-3000877069ns10:Original2022-07-012023-06-3000877069ns10:Original2023-06-3000877069ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3000877069ns10:Originalns10:FRS1022022-07-012023-06-3000877069ns10:Originalns10:Audited2022-07-012023-06-3000877069ns10:Originalns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-07-012023-06-3000877069ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3000877069ns10:Originalns10:FullAccounts2022-07-012023-06-3000877069ns10:Originalns10:OrdinaryShareClass22022-07-012023-06-3000877069ns10:OrdinaryShareClass3ns10:Original2022-07-012023-06-3000877069ns10:Originalns10:OrdinaryShareClass42022-07-012023-06-3000877069ns10:Originalns10:Director22022-07-012023-06-3000877069ns10:Originalns10:Director32022-07-012023-06-3000877069ns10:Originalns10:Director42022-07-012023-06-3000877069ns10:Originalns10:Director52022-07-012023-06-3000877069ns10:Originalns10:Director62022-07-012023-06-3000877069ns10:Originalns10:Director72022-07-012023-06-3000877069ns10:CompanySecretary1ns10:Original2022-07-012023-06-3000877069ns10:Originalns10:RegisteredOffice2022-07-012023-06-3000877069ns10:Original2021-07-012022-06-3000877069ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3000877069ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-06-3000877069ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-3000877069ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-07-012022-06-3000877069ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3000877069ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3000877069ns10:Original2022-06-3000877069ns10:Originalns5:CurrentFinancialInstruments2023-06-3000877069ns10:Originalns5:CurrentFinancialInstruments2022-06-3000877069ns5:ShareCapitalns10:Original2023-06-3000877069ns5:ShareCapitalns10:Original2022-06-3000877069ns10:Originalns5:SharePremium2023-06-3000877069ns10:Originalns5:SharePremium2022-06-3000877069ns10:Originalns5:CapitalRedemptionReserve2023-06-3000877069ns10:Originalns5:CapitalRedemptionReserve2022-06-3000877069ns10:Original2022-06-3000877069ns10:Originalns5:LeaseholdImprovements2022-07-012023-06-3000877069ns10:Originalns5:PlantMachinery2022-07-012023-06-3000877069ns10:Originalns5:FurnitureFittings2022-07-012023-06-3000877069ns10:Originalns5:MotorVehicles2022-07-012023-06-3000877069ns10:Originalns10:HighestPaidDirector2022-07-012023-06-3000877069ns10:Originalns10:HighestPaidDirector2021-07-012022-06-3000877069ns10:Originalns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-07-012023-06-3000877069ns10:Originalns5:PlantEquipmentOtherAssetsUnderOperatingLeases2021-07-012022-06-3000877069ns5:OwnedAssetsns10:Original2022-07-012023-06-3000877069ns5:OwnedAssetsns10:Original2021-07-012022-06-3000877069ns10:Originalns10:OrdinaryShareClass22021-07-012022-06-3000877069ns10:OrdinaryShareClass3ns10:Original2021-07-012022-06-3000877069ns10:Originalns10:OrdinaryShareClass42021-07-012022-06-3000877069ns10:Originalns5:LeaseholdImprovements2022-06-3000877069ns10:Originalns5:PlantMachinery2022-06-3000877069ns10:Originalns5:FurnitureFittings2022-06-3000877069ns10:Originalns5:MotorVehicles2022-06-3000877069ns10:Originalns5:LeaseholdImprovements2023-06-3000877069ns10:Originalns5:PlantMachinery2023-06-3000877069ns10:Originalns5:FurnitureFittings2023-06-3000877069ns10:Originalns5:MotorVehicles2023-06-3000877069ns10:Originalns5:LeaseholdImprovements2022-06-3000877069ns10:Originalns5:PlantMachinery2022-06-3000877069ns10:Originalns5:FurnitureFittings2022-06-3000877069ns10:Originalns5:MotorVehicles2022-06-3000877069ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3000877069ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3000877069ns10:Originalns5:Non-currentFinancialInstruments2023-06-3000877069ns10:Originalns5:Non-currentFinancialInstruments2022-06-3000877069ns5:BetweenOneFiveYearsns10:Original2023-06-3000877069ns5:BetweenOneFiveYearsns10:Original2022-06-3000877069ns10:Originalns10:OrdinaryShareClass22023-06-3000877069ns10:OrdinaryShareClass3ns10:Original2023-06-3000877069ns10:Originalns10:OrdinaryShareClass42023-06-3000877069ns10:Originalns5:SharePremium2022-06-3000877069ns10:Originalns5:CapitalRedemptionReserve2022-06-30
REGISTERED NUMBER: 00877069 (England and Wales)















R. P. TYSON CONSTRUCTION LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


R. P. TYSON CONSTRUCTION LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTORS: D J Whittle
A R Brumwell
N G Bell
J P J Whittle
D Causer
P A Helm
Mrs E L Turnbull



SECRETARY: Mrs E L Turnbull



REGISTERED OFFICE: 1 Mitcham Road
Blackpool
Lancashire
FY4 4QN



REGISTERED NUMBER: 00877069 (England and Wales)



AUDITORS: Sheards
Chartered Accountants
& Statutory Auditors
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS



BANKERS: National Westminster Bank Plc
20 Corporation Street
Blackpool
FY1 1EL

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

STRATEGIC REPORT
for the year ended 30 June 2023


The directors present their strategic report for the year ended 30 June 2023.

REVIEW OF BUSINESS
The directors are content with the outturn for the period. Turnover is slightly down in comparison to our previous financial year however profit has increased. The year's trading has again proved profitable however difficult trading conditions have eroded the level of profit. The balance sheet is strong providing a solid platform to support the company. The company is debt free.

The extraordinary level of inflation has impacted upon the profitability of our trading. The majority of our projects are secured on a design and build basis for a fixed sum. During the financial year we have concluded all of our legacy projects (i.e. projects secured prior to the COVID-19 pandemic, the war in Ukraine, the cost of living crisis and the unprecedented levels of inflation that have ensued). The legacy projects have been financially challenging but through collaboratively working with our supply chain and clients we have concluded these projects. Moving forward we have lessened the risk associated with inflation by including increased contingency allowances within our contract sums.

Strategically the company continues to invest considerable resources into business development strengthening existing long term relationships whilst forging contacts with new clients, consultants and supply chain members. Through a proactive approach to finding work opportunities we have secured a forward order book of approximately £50million. Contracts have been procured through competitive tenders, negotiation and land and build packages put together by our in-house team. Over the last twelve months we have maintained our membership of a number of frameworks of registered providers of affordable housing. We are members of ICN, Home Housing, Torus, JV North, Cutting Edge, Forviva, Cobalt Housing and Homes England Land DPS frameworks.

Our core business is the building of new homes for a range of clients across the North West. We are active in the educational and commercial sectors. We also undertake some private development either solely as R P Tyson Construction Ltd or through joint ventures. The construction of the final phase of our JV development at St Georges Gardens, Stockport has been completed during this financial year. As of October 2023 sales have completed on ten out of the thirteen apartments with a further two sales due to complete in November 2023. The development loan noted on our balance sheet has reduced from £2,131,000 to £350,000.

We continue to invest in quality assurance in terms of both our product offering and service provision, the maintenance of our exemplary health and safety record and the training of our people, all essential to maintaining and improving our market position with our portfolio of clients.

With a healthy forward order book the directors are confident that the company is well placed to respond positively to the difficult market conditions through its considerable and carefully managed financial resources aligned to our dedicated, experienced, well-motivated and loyal staff and supply chain.

ON BEHALF OF THE BOARD:





J P J Whittle - Director


6 November 2023

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

REPORT OF THE DIRECTORS
for the year ended 30 June 2023


The directors present their report with the financial statements of the company for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of building contractor and developer predominantly on residential focussed projects.

DIVIDENDS
Interim dividends per share were paid during the year as follows:
Ordinary "A" £1 - £6 - 30 June 2023
Ordinary "B" £1 - £6 - 30 June 2023
Ordinary "C" £1 - £6 - 30 June 2023

The total distribution of dividends for the year ended 30 June 2023 will be £ 71,400 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

D J Whittle
A R Brumwell
N G Bell
J P J Whittle
D Causer
P A Helm

Other changes in directors holding office are as follows:

Mrs E L Turnbull was appointed as a director after 30 June 2023 but prior to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
All donations paid are of a charitable nature.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

REPORT OF THE DIRECTORS
for the year ended 30 June 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Sheards, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J P J Whittle - Director


6 November 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
R. P. TYSON CONSTRUCTION LIMITED


Opinion
We have audited the financial statements of R. P. Tyson Construction Limited (the 'company') for the year ended 30 June 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
R. P. TYSON CONSTRUCTION LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
R. P. TYSON CONSTRUCTION LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors, and from
our commercial knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company;
- we assessed the extent of compliance with the laws and regulations identified through making enquiries of
management; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert
to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge
of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining accounting estimates were indicative of
potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation; and
- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as the may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
R. P. TYSON CONSTRUCTION LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Winterburn FCA (Senior Statutory Auditor)
for and on behalf of Sheards
Chartered Accountants
& Statutory Auditors
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

6 November 2023

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

STATEMENT OF INCOME AND RETAINED EARNINGS
for the year ended 30 June 2023

2023 2022
Notes £    £   

TURNOVER 32,058,919 34,659,485

Cost of sales (29,791,830 ) (33,102,989 )
GROSS PROFIT 2,267,089 1,556,496

Distribution costs (215,884 ) (208,998 )
Administrative expenses (1,658,092 ) (1,517,145 )
393,113 (169,647 )

Other operating income 26,892 29,994
OPERATING PROFIT/(LOSS) 4 420,005 (139,653 )

Interest receivable and similar income 21,151 270,815
PROFIT BEFORE TAXATION 441,156 131,162

Tax on profit 5 - 83,977
PROFIT FOR THE FINANCIAL YEAR 441,156 215,139

Retained earnings at beginning of year 3,676,698 3,509,159

Dividends 6 (71,400 ) (47,600 )

RETAINED EARNINGS AT END OF
YEAR

4,046,454

3,676,698

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 7 334,242 263,530

CURRENT ASSETS
Stocks 8 122,600 165,194
Debtors 9 4,478,366 5,619,701
Investments 10 2,131,000 1,616,000
Cash at bank and in hand 2,943,871 1,665,367
9,675,837 9,066,262
CREDITORS
Amounts falling due within one year 11 (5,739,364 ) (5,428,833 )
NET CURRENT ASSETS 3,936,473 3,637,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,270,715

3,900,959

CAPITAL AND RESERVES
Called up share capital 13 11,900 11,900
Share premium 14 179,161 179,161
Capital redemption reserve 14 33,200 33,200
Retained earnings 14 4,046,454 3,676,698
SHAREHOLDERS' FUNDS 4,270,715 3,900,959

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





J P J Whittle - Director


R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

CASH FLOW STATEMENT
for the year ended 30 June 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,924,240 180,708
Tax paid 35,450 -
Net cash from operating activities 1,959,690 180,708

Cash flows from investing activities
Purchase of tangible fixed assets (177,504 ) (53,803 )
Sale of tangible fixed assets 39,567 2,200
Current asset investment (515,000 ) (885,000 )
Interest received 21,151 270,815
Net cash from investing activities (631,786 ) (665,788 )

Cash flows from financing activities
Net movement on directors' loan 22,000 (25,000 )
Equity dividends paid (71,400 ) (47,600 )
Net cash from financing activities (49,400 ) (72,600 )

Increase/(decrease) in cash and cash equivalents 1,278,504 (557,680 )
Cash and cash equivalents at beginning of
year

2

1,665,367

2,223,047

Cash and cash equivalents at end of year 2 2,943,871 1,665,367

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

NOTES TO THE CASH FLOW STATEMENT
for the year ended 30 June 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 441,156 131,162
Depreciation charges 81,997 79,298
Profit on disposal of fixed assets (14,772 ) (2,200 )
Finance income (21,151 ) (270,815 )
487,230 (62,555 )
Decrease in stocks 42,594 299,224
Decrease/(increase) in trade and other debtors 1,105,885 (484,878 )
Increase in trade and other creditors 288,531 428,917
Cash generated from operations 1,924,240 180,708

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 2,943,871 1,665,367
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 1,665,367 2,223,047


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank and in hand 1,665,367 1,278,504 2,943,871
1,665,367 1,278,504 2,943,871

Liquid resources
Current asset investments 1,616,000 515,000 2,131,000
1,616,000 515,000 2,131,000
Total 3,281,367 1,793,504 5,074,871

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023


1. STATUTORY INFORMATION

R. P. Tyson Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover represents amounts invoiced to customers, except in respect of contracting activities where cumulative turnover for long term contracts is ascertained on interim stage valuations or a prudent review of the costs incurred to date and the assessment of completion of the contract, on a contract by contract basis.

Turnover is compared with payments on account. Where turnover exceeds payments on account, an amount recoverable on contracts is established and disclosed within debtors. If payments on account exceed turnover, the excess is classified as a deduction from any balance on that contract within long term contracts in stock, and any residual balance is classified as a payment on account within creditors.

Turnover excludes value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks and long term contracts
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Long-term contract balances included in stocks comprise costs incurred on long-term contracts, net of amounts transferred to cost of sales, after deducting foreseeable losses and related payments on account. Costs include all direct material and labour costs incurred in bringing a contract to its state of completion at the year end, including an appropriate proportion of indirect expenses and profits earned to date. Provisions for estimated losses on contracts are made in the period in which such losses are foreseen.


R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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
2023 2022
£    £   
Wages and salaries 2,733,240 2,680,114
Social security costs 291,029 276,340
Other pension costs 94,507 75,241
3,118,776 3,031,695

The average number of employees during the year was as follows:
2023 2022

Production staff 39 43
Management and administrative staff 36 41
75 84

2023 2022
£    £   
Directors' remuneration 521,681 405,221
Directors' pension contributions to money purchase schemes 30,000 20,000

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


3. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 123,475 85,180
Pension contributions to money purchase schemes 30,000 20,000

4. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 233,460 373,287
Other operating leases 52,500 52,500
Depreciation - owned assets 81,997 79,298
Profit on disposal of fixed assets (14,772 ) (2,200 )
Auditors' remuneration 9,900 9,900

5. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
Adjustment to prior periods - (35,653 )

Deferred taxation - (48,324 )
Tax on profit - (83,977 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 441,156 131,162
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

110,289

24,921

Effects of:
Expenses not deductible for tax purposes - 53
Capital allowances in excess of depreciation (19,796 ) -
Depreciation in excess of capital allowances - 1,206
Utilisation of tax losses (90,493 ) (74,504 )
Adjustments to tax charge in respect of previous periods - (35,653 )
Total tax credit - (83,977 )

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


5. TAXATION - continued

The company has tax losses available of approximately £546,000 (2022 - £917,000) to carry forward to relieve against future periods.

6. DIVIDENDS
2023 2022
£    £   
Ordinary "A" shares of £1 each
Interim "A" 60,000 40,000
Ordinary "B" shares of £1 each
Interim "B" 9,000 6,000
Ordinary "C" shares of £1 each
Interim "C" 2,400 1,600
71,400 47,600

7. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 167,702 514,404 140,290 375,773 1,198,169
Additions - 169,707 7,797 - 177,504
Disposals - - - (78,977 ) (78,977 )
At 30 June 2023 167,702 684,111 148,087 296,796 1,296,696
DEPRECIATION
At 1 July 2022 145,154 403,607 127,832 258,046 934,639
Charge for year 5,636 47,012 3,337 26,012 81,997
Eliminated on disposal - - - (54,182 ) (54,182 )
At 30 June 2023 150,790 450,619 131,169 229,876 962,454
NET BOOK VALUE
At 30 June 2023 16,912 233,492 16,918 66,920 334,242
At 30 June 2022 22,548 110,797 12,458 117,727 263,530

8. STOCKS
2023 2022
£    £   
Raw materials 53,938 75,194
Long term contract balances 68,662 90,000
122,600 165,194

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


9. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 890,491 1,774,828
Amounts recoverable on contract 2,431,000 2,396,261
Corporation tax - 35,450
VAT 63,345 84,456
Prepayments and accrued income 103,682 63,688
3,488,518 4,354,683

Amounts falling due after more than one year:
Trade debtors 989,848 1,265,018

Aggregate amounts 4,478,366 5,619,701

10. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Development loan investment 2,131,000 1,616,000

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Payments on account 559,231 807,688
Trade creditors 4,584,314 4,170,297
Social security and other taxes 122,105 144,791
Other creditors 5,400 3,600
Directors' current accounts 66,000 44,000
Accrued expenses 402,314 258,457
5,739,364 5,428,833

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 318,987 91,875

R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary "A" £1 10,000 10,000
1,500 Ordinary "B" £1 1,500 1,500
400 Ordinary "C" £1 400 400
11,900 11,900

The three classes of Ordinary Shares have the same priorities on winding up, voting rights and entitlements to dividends. There are different rules according to each class of share regarding their transmission.

14. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 July 2022 3,676,698 179,161 33,200 3,889,059
Profit for the year 441,156 441,156
Dividends (71,400 ) (71,400 )
At 30 June 2023 4,046,454 179,161 33,200 4,258,815

15. CONTINGENT LIABILITIES

At the year end, the company had bonds in favour of certain customer contracts lodged at the bank. These bonds represent a percentage of the contract that would be payable to the customer should the company not be able to complete the contract. The limit on the value of these bonds at 30 June 2023 was £50,000 (2022 - £50,000).

16. ULTIMATE CONTROLLING PARTY

The controlling party is D J Whittle.