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Registration number: 06882950

The Tyrebarn Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

The Tyrebarn Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

The Tyrebarn Ltd

Company Information

Director

M Starrs

Company secretary

Mrs. V J Starrs

Registered office

Unit 11
Bone Lane
Newbury
Berkshire
RG14 5SH

Accountants

Opus Accounting Limited
Chartered Certified Accountants
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Tyrebarn Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Tyrebarn Ltd for the year ended 30 April 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of The Tyrebarn Ltd, as a body, in accordance with the terms of our engagement letter dated 14 March 2013. Our work has been undertaken solely to prepare for your approval the accounts of The Tyrebarn Ltd and state those matters that we have agreed to state to the Board of Directors of The Tyrebarn Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Tyrebarn Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Tyrebarn Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Tyrebarn Ltd. You consider that The Tyrebarn Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Tyrebarn Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Opus Accounting Limited
Chartered Certified Accountants
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW

29 July 2024

 

The Tyrebarn Ltd

(Registration number: 06882950)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

84,507

49,601

Current assets

 

Stocks

5

290,521

268,029

Debtors

6

7,585

9,898

Cash at bank and in hand

 

385,314

378,910

 

683,420

656,837

Creditors: Amounts falling due within one year

7

(185,713)

(141,083)

Net current assets

 

497,707

515,754

Total assets less current liabilities

 

582,214

565,355

Provisions for liabilities

(21,939)

(12,400)

Net assets

 

560,275

552,955

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

560,175

552,855

Shareholders' funds

 

560,275

552,955



 

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

The Tyrebarn Ltd

(Registration number: 06882950)
Balance Sheet as at 30 April 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 July 2024
 

.........................................
M Starrs
Director

 

The Tyrebarn Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 11
Bone Lane
Newbury
Berkshire
RG14 5SH
England

These financial statements were authorised for issue by the director on 27 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Tyrebarn Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% reducing balance

Fixtures and fittings

15% reducing balance

Computer equipment

33% reducing balance

Office equipment

25% reducing balance

Motor Vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Tyrebarn Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

The Tyrebarn Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 May 2023

29,114

52,548

111,899

193,561

Additions

1,041

123,099

496

124,636

Disposals

-

(61,950)

(2,850)

(64,800)

At 30 April 2024

30,155

113,697

109,545

253,397

Depreciation

At 1 May 2023

24,571

40,078

79,311

143,960

Charge for the year

1,068

18,405

8,093

27,566

Eliminated on disposal

-

-

(2,636)

(2,636)

At 30 April 2024

25,639

58,483

84,768

168,890

Carrying amount

At 30 April 2024

4,516

55,214

24,777

84,507

At 30 April 2023

4,543

12,470

32,588

49,601

5

Stocks

2024
£

2023
£

Other inventories

290,521

268,029

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,728

(72)

Prepayments

5,857

8,970

Other debtors

-

1,000

 

7,585

9,898

 

The Tyrebarn Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

67,093

87,424

Taxation and social security

45,134

44,202

Accruals and deferred income

70,911

2,204

Other creditors

2,575

7,253

185,713

141,083

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £20.00 (2023 - £40.00) per each Ordinary

2,000

4,000

 

 
 

The Tyrebarn Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

150,000

153,250

Contributions paid to money purchase schemes

40,000

-

190,000

153,250