Company registration number 13739721 (England and Wales)
North Park (Tinker Lane) Limited
Unaudited
Financial Statements
for the year ended 30 June 2023
PAGES FOR FILING WITH REGISTRAR
North Park (Tinker Lane) Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
Notes to the financial statements
2 - 3
North Park (Tinker Lane) Limited
Statement of financial position
as at 30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
1,003,679
936,729
Debtors
1,693
1,650
Cash at bank and in hand
5,912
7,359
1,011,284
945,738
Creditors: amounts falling due within one year
4
(646,075)
(8,650)
Net current assets
365,209
937,088
Creditors: amounts falling due after more than one year
5
(350,000)
(937,087)
Net assets
15,209
1
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
15,208
Total equity
15,209
1
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 January 2024
B Marsden
Director
Company Registration No. 13739721
North Park (Tinker Lane) Limited
Notes to the Financial Statements
for the year ended 30 June 2023
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received for goods provided in the normal course of business.The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (on completion of property sale). The amount of revenue can be measured reliably. It is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be also measured reliably.
Stocks
Stocks are stated at the lower of cost and net realisable value.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
North Park (Tinker Lane) Limited
Notes to the Financial Statements (continued)
for the year ended 30 June 2023
- 3 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
47,500
Corporation tax
3,775
Other creditors
594,800
4,800
Accruals and deferred income
3,850
646,075
8,650
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loan
350,000
937,087
The bank loan is secured.
6
Company information
North Park (Tinker Lane) Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.