REGISTERED NUMBER: |
R. P. TYSON CONSTRUCTION LIMITED |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
Vernon House |
40 New North Road |
Huddersfield |
West Yorkshire |
HD1 5LS |
BANKERS: |
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: |
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 | - | £ |
- 30 June 2023 |
Ordinary "B" £1 | - | £ |
- 30 June 2023 |
Ordinary "C" £1 | - | £6 | - 30 June 2023 |
The total distribution of dividends for the year ended 30 June 2023 will be £ |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report. |
Other changes in directors holding office are as follows: |
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: |
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. |
for and on behalf of |
Chartered Accountants |
& Statutory Auditors |
Vernon House |
40 New North Road |
Huddersfield |
West Yorkshire |
HD1 5LS |
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 |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Distribution costs | ( |
) | ( |
) |
Administrative expenses | ( |
) | ( |
) |
393,113 | (169,647 | ) |
Other operating income |
OPERATING PROFIT/(LOSS) | 4 | ( |
) |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 5 |
PROFIT FOR THE FINANCIAL YEAR |
Retained earnings at beginning of year |
Dividends | 6 | ( |
) | ( |
) |
RETAINED EARNINGS AT END OF YEAR |
R. P. TYSON CONSTRUCTION LIMITED (REGISTERED NUMBER: 00877069) |
BALANCE SHEET |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Investments | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Share premium | 14 |
Capital redemption reserve | 14 |
Retained earnings | 14 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
Tax paid |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Current asset investment | ( |
) | ( |
) |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Net movement on directors' loan | 22,000 | (25,000 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase/(decrease) in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
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 |
Depreciation charges |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Finance income | (21,151 | ) | (270,815 | ) |
487,230 | (62,555 | ) |
Decrease in stocks |
Decrease/(increase) in trade and other debtors | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
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 | 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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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 |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2023 | 2022 |
Production staff | 39 | 43 |
Management and administrative staff | 36 | 41 |
2023 | 2022 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
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 |
Pension contributions to money purchase schemes |
4. | OPERATING PROFIT/(LOSS) |
The operating profit (2022 - operating loss) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Hire of plant and machinery |
Other operating leases |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Auditors' remuneration |
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 | ( |
) |
Tax on profit | ( |
) |
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 |
Profit multiplied by the standard rate of corporation tax in the UK of (2022 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | ( |
) | - |
Depreciation in excess of capital allowances | - |
Utilisation of tax losses | ( |
) | ( |
) |
Adjustments to tax charge in respect of previous periods | ( |
) |
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" |
Ordinary "B" shares of £1 each |
Interim "B" |
Ordinary "C" shares of £1 each |
Interim "C" |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
8. | STOCKS |
2023 | 2022 |
£ | £ |
Raw materials |
Long term contract balances |
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 |
Amounts recoverable on contract |
Corporation tax |
VAT |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Trade debtors |
Aggregate amounts |
10. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Development loan investment |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Payments on account |
Trade creditors |
Social security and other taxes |
Other creditors |
Directors' current accounts | 66,000 | 44,000 |
Accrued expenses |
12. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Between one and five years |
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: | £ | £ |
Ordinary "A" | £1 | 10,000 | 10,000 |
Ordinary "B" | £1 | 1,500 | 1,500 |
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 | 3,889,059 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 June 2023 | 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. |