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REGISTERED NUMBER: 03679331 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Tinhay Building Supplies Limited

Tinhay Building Supplies Limited (Registered number: 03679331)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tinhay Building Supplies Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: R Sorrell
Mrs N M Sorrell





SECRETARY: Mrs N M Sorrell





REGISTERED OFFICE: Unit G
Tinhay Industrial Estate
Lifton
Devon
PL16 0AH





REGISTERED NUMBER: 03679331 (England and Wales)





ACCOUNTANTS: Sovereign Accounting Solutions
Chartered Accountants and Business Advisers
Unit 9
Moorland Road Industrial Park
Moorland Road, Indian Queens
St Columb
Cornwall
TR9 6FB

Tinhay Building Supplies Limited (Registered number: 03679331)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 551,868 336,162

CURRENT ASSETS
Stocks 891,341 971,873
Debtors 5 1,419,189 812,534
Cash at bank and in hand 105,905 512,999
2,416,435 2,297,406
CREDITORS
Amounts falling due within one year 6 1,848,553 1,328,031
NET CURRENT ASSETS 567,882 969,375
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,119,750

1,305,537

CREDITORS
Amounts falling due after more than one
year

7

(458,421

)

(184,961

)

PROVISIONS FOR LIABILITIES (70,424 ) (36,259 )
NET ASSETS 590,905 1,084,317

CAPITAL AND RESERVES
Called up share capital 80,000 80,000
Retained earnings 9 510,905 1,004,317
SHAREHOLDERS' FUNDS 590,905 1,084,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Tinhay Building Supplies Limited (Registered number: 03679331)

Balance Sheet - continued
31 January 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





R Sorrell - Director


Tinhay Building Supplies Limited (Registered number: 03679331)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Tinhay Building Supplies 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - Straight line over the life of the lease
Plant and machinery etc - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Tinhay Building Supplies Limited (Registered number: 03679331)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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

The average number of employees during the year was 38 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 353,870 943,261 1,297,131
Additions 54,073 326,380 380,453
Disposals - (143,167 ) (143,167 )
At 31 January 2024 407,943 1,126,474 1,534,417
DEPRECIATION
At 1 February 2023 211,800 749,168 960,968
Charge for year 17,987 139,074 157,061
Eliminated on disposal - (135,480 ) (135,480 )
At 31 January 2024 229,787 752,762 982,549
NET BOOK VALUE
At 31 January 2024 178,156 373,712 551,868
At 31 January 2023 142,070 194,093 336,163

Tinhay Building Supplies Limited (Registered number: 03679331)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023 366,747
Additions 293,422
Transfer to ownership (209,911 )
At 31 January 2024 450,258
DEPRECIATION
At 1 February 2023 265,713
Charge for year 77,931
Transfer to ownership (227,001 )
At 31 January 2024 116,643
NET BOOK VALUE
At 31 January 2024 333,615
At 31 January 2023 101,034

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,000,776 755,199
Amounts owed by group undertakings 259,804 -
Other debtors 158,609 57,335
1,419,189 812,534

Amounts owed by group undertakings shown above represents the amount due from the company's holding company, Tinhay Holdings Limited, at the year end.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 186,945 68,004
Hire purchase contracts 79,051 60,849
Trade creditors 723,904 890,492
Taxation and social security 192,120 161,743
Other creditors 666,533 146,943
1,848,553 1,328,031

Other creditors above includes £561,520 (2023 - £73,029) representing the debt due to Barclays Bank Plc in respect of the company's undisclosed invoice discounting arrangement.

Tinhay Building Supplies Limited (Registered number: 03679331)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 234,376 164,365
Hire purchase contracts 224,045 20,596
458,421 184,961

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 421,321 232,369
Hire purchase contracts 303,096 81,445
724,417 313,814

9. RESERVES

Group retained reserves at 31st January 2024:

Tinhay Building Supplies Limited £510,905 (2023 - £1,004,317)

Tinhay Holdings Limited £250,875 (2023 - nil)

Total Group retained reserves £761,780 (2023 - £1,004,317)

10. OTHER FINANCIAL COMMITMENTS

Financial commitments under non-cancellable operating leases will result in payments falling due in the next financial year of £155,312 in respect of leases expiring after five years.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Tinhay Holdings Limited.