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Company registration number: 05388176
TYRER HIGGINS LIMITED
Unaudited filleted financial statements
31 March 2023
TYRER HIGGINS LIMITED
Directors and other information
Directors Ann Elizabeth Higgins
Arthur Higgins
Secretary Arthur G Higgins
Company number 05388176
Registered office The Grange
Yatton Keynell
Chippenham
Wiltshire
Business address 42 Avon Road
Devizes
Wiltshire
TYRER HIGGINS LIMITED
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 89 172
_______ _______
89 172
Current assets
Debtors 6 2,486 3,419
Cash at bank and in hand 28,903 12,853
_______ _______
31,389 16,272
Creditors: amounts falling due
within one year 7 ( 25,366) ( 14,371)
_______ _______
Net current assets 6,023 1,901
_______ _______
Total assets less current liabilities 6,112 2,073
_______ _______
Net assets 6,112 2,073
_______ _______
Capital and reserves
Called up share capital 500 500
Profit and loss account 5,612 1,573
_______ _______
Shareholders funds 6,112 2,073
_______ _______
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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
Ann Elizabeth Higgins
Director
Company registration number: 05388176
TYRER HIGGINS 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 Tyrer Higgins Limited, The Grange, Yatton Keynell, Chippenham, Wiltshire.
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 on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 statement of comprehensive income.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.
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:
ICT equipment - 33.33 % straight line
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.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
IT equipment Total
£ £
Cost
At 1 April 2022 and 31 March 2023 6,363 6,363
_______ _______
Depreciation
At 1 April 2022 6,191 6,191
Charge for the year 83 83
_______ _______
At 31 March 2023 6,274 6,274
_______ _______
Carrying amount
At 31 March 2023 89 89
_______ _______
At 31 March 2022 172 172
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 2,486 1,721
Other debtors - 1,698
_______ _______
2,486 3,419
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Taxes 4,481 3,326
Other creditors 20,885 11,045
_______ _______
25,366 14,371
_______ _______