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COMPANY REGISTRATION NUMBER: 06264140
Tucker Trading Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Tucker Trading Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
86,552
58,465
Current assets
Debtors
6
20,879
10,446
Cash at bank and in hand
22,714
9,130
--------
--------
43,593
19,576
Creditors: amounts falling due within one year
7
55,717
16,781
--------
--------
Net current (liabilities)/assets
( 12,124)
2,795
--------
--------
Total assets less current liabilities
74,428
61,260
Creditors: amounts falling due after more than one year
8
58,695
47,894
Provisions
Deferred taxation
10,123
9,104
--------
--------
Net assets
5,610
4,262
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
5,608
4,260
-------
-------
Shareholder funds
5,610
4,262
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tucker Trading Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 8 July 2024 , and are signed on behalf of the board by:
M Tucker
Director
Company registration number: 06264140
Tucker Trading Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Marina View, Buckden Marina, Buckden, St Neots, Cambridgeshire, PE19 5QS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is financially supported by the director and its bankers such that these financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of discounts and of value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being recognised in profit or loss.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Office equipment
-
25% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Finance lease and hire purchase payments are apportioned between the finance charges and reduction of the outstanding lease liability using the sum of the digits method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Pension contributions
Contributions to defined pension contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Office equipment
Total
£
£
£
£
Cost
At 1 January 2023
1,132
60,787
8,857
70,776
Additions
44,080
1,516
45,596
-------
---------
--------
---------
At 31 December 2023
1,132
104,867
10,373
116,372
-------
---------
--------
---------
Depreciation
At 1 January 2023
1,061
5,016
6,234
12,311
Charge for the year
71
16,241
1,197
17,509
-------
---------
--------
---------
At 31 December 2023
1,132
21,257
7,431
29,820
-------
---------
--------
---------
Carrying amount
At 31 December 2023
83,610
2,942
86,552
-------
---------
--------
---------
At 31 December 2022
71
55,771
2,623
58,465
-------
---------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
12,540
1,200
Other debtors
8,339
9,246
--------
--------
20,879
10,446
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,000
5,000
Trade creditors
23,387
482
Social security and other taxes
11,091
4,219
Other creditors
16,239
7,080
--------
--------
55,717
16,781
--------
--------
Included within other creditors is an amount of £13,499 (2022: £5,201) relating to assets acquired under hire purchase agreements. Hire purchase agreements are secured on the assets concerned.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
7,083
12,083
Other creditors
51,612
35,811
--------
--------
58,695
47,894
--------
--------
Included within other creditors is an amount of £51,612 (2022: £35,811) relating to assets acquired under hire purchase agreements. Hire purchase agreements are secured on the assets concerned.
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
10,123
9,104
--------
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Capital allowances
10,123
9,104
--------
-------