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REGISTERED NUMBER: 03707781 (England and Wales)










Unaudited Financial Statements

For The Year Ended 30 June 2023

for

Michael Tuck Lettings Limited

Michael Tuck Lettings Limited (Registered number: 03707781)






Contents of the Financial Statements
For The Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Michael Tuck Lettings Limited

Company Information
For The Year Ended 30 June 2023







DIRECTORS: I P Lazell
R J Tuck





REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN





REGISTERED NUMBER: 03707781 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Michael Tuck Lettings Limited (Registered number: 03707781)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,767 3,170
4,767 3,170

CURRENT ASSETS
Debtors 6 541,171 499,987
Cash at bank 199,052 6,833
740,223 506,820
CREDITORS
Amounts falling due within one year 7 159,149 156,851
NET CURRENT ASSETS 581,074 349,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

585,841

353,139

CREDITORS
Amounts falling due after more than one
year

8

97,344

220,025
NET ASSETS 488,497 133,114

CAPITAL AND RESERVES
Called up share capital 10 120 120
Share premium 19,990 19,990
Retained earnings 468,387 113,004
SHAREHOLDERS' FUNDS 488,497 133,114

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Michael Tuck Lettings Limited (Registered number: 03707781)

Balance Sheet - continued
30 June 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 4 March 2024 and were signed on its behalf by:





R J Tuck - Director


Michael Tuck Lettings Limited (Registered number: 03707781)

Notes to the Financial Statements
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

Michael Tuck Lettings 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.

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" 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 recognised at the fair value of the consideration received or receivable for residential lettings management services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Goodwill
Goodwill, being the amounts paid in connection with the acquisition of businesses in 2000 , 2004 and 2008, is being written off evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on cost

Michael Tuck Lettings Limited (Registered number: 03707781)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price including transaction costs.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from related companies that are classified as debt, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

Michael Tuck Lettings Limited (Registered number: 03707781)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 82,100
AMORTISATION
At 1 July 2022
and 30 June 2023 82,100
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 15,852
Additions 3,735
Disposals (9,769 )
At 30 June 2023 9,818
DEPRECIATION
At 1 July 2022 12,682
Charge for year 2,138
Eliminated on disposal (9,769 )
At 30 June 2023 5,051
NET BOOK VALUE
At 30 June 2023 4,767
At 30 June 2022 3,170

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 9,321 -
Amounts owed by group undertakings 516,807 465,300
Other debtors 15,043 34,687
541,171 499,987

Michael Tuck Lettings Limited (Registered number: 03707781)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 10,000 13,341
Trade creditors 1,270 6,093
Taxation and social security 117,800 88,293
Other creditors 30,079 49,124
159,149 156,851

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 19,926 30,093
Other creditors 77,418 189,932
97,344 220,025

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 29,926 43,434

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
20 C Ordinary £1 20 20
120 120