Company registration number 11926683 (England and Wales)
Tenos Trustees Limited
Unaudited financial statements
For the year ended 30 June 2023
Tenos Trustees Limited
Company information
Directors
Mr A Hay
Ms D J Bamber
(Appointed 19 June 2023)
Mr A M Foolkes
Mr P M Hoban
(Appointed 19 June 2023)
Secretary
Mr P M Hoban
Company number
11926683
Registered office
1 St. Peters Square
Manchester
United Kingdom
M2 3DE
Accountants
DJH Mitten Clarke Manchester Limited
St George's House
56 Peter Street
Manchester
M2 3NQ
Tenos Trustees Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Tenos Trustees Limited
Statement of financial position
As at 30 June 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Capital and reserves
-
-
Called up share capital
The directors of the company have 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
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 by the board of directors and authorised for issue on 13 February 2024 and are signed on its behalf by:
Mr P M Hoban
Director
Company Registration No. 11926683
Tenos Trustees Limited
Notes to the financial statements
For the year ended 30 June 2023
- 2 -
1
Accounting policies
Company information
Tenos Trustees Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 St. Peters Square, Manchester, United Kingdom, M2 3DE.
1.1
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. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.3
As security for a loan in the employee owned trust, a mortgage debenture is held incorporating a fixed and floating charge on the company's assets dated 24 May 2019.
A further fixed and floating charge dated 24 May 2019 is held over the company's shares.
Tenos Trustees Limited
Notes to the financial statements (continued)
For the year ended 30 June 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total