REGISTERED NUMBER: |
STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
TAYNA LIMITED |
REGISTERED NUMBER: |
STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
TAYNA LIMITED |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Income Statement | 8 |
Other Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 15 |
TAYNA LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants |
Statutory Auditors |
Glaslyn |
Ffordd y Parc |
Parc Menai |
Bangor |
Gwynedd |
LL57 4FE |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
STRATEGIC REPORT |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
The directors present their strategic report for the period 1 November 2022 to 31 December 2023. |
INTRODUCTION |
Tayna Ltd is an online retailer of all types of batteries and related consumables. |
GOALS |
1. To provide the largest range of battery brands and parts in the UK. |
2. To offer an unrivalled delivery service to our customers. |
3. To offer market leading customer service. |
REVIEW OF BUSINESS |
During the review period the company’s turnover grew from £21.2M to £25.5M. We have continued |
to expand our product offering and also improved our delivery service. |
Development and Performance at Year End |
The company continues to develop its operating systems. The main focus has been on |
implementing an automated pricing system to track competitors and control profit margins. At |
year end the company continued to perform strongly. |
Position at Year End and Key Financials |
The company ended in a strong position. Turnover grew from £21.2M to £25.5M. Net assets grew |
from £2.7M to £2.8M. |
PRINCIPAL RISKS AND UNCERTAINTIES |
Rising costs continue to be the principal risk. Workforce and energy costs are the primary |
concern. |
ON BEHALF OF THE BOARD: |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
The directors present their report with the financial statements of the company for the period 1 November 2022 to 31 December 2023. |
DIVIDENDS |
Interim dividends totalling £ |
The total distribution of dividends for the period ended 31 December 2023 will be £ |
DIRECTORS |
The directors who have held office during the period from 1 November 2022 to the date of this report are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TAYNA LIMITED |
Opinion |
We have audited the financial statements of Tayna Limited (the 'company') for the period ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the period then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TAYNA LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. |
We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. |
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. |
We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also |
addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TAYNA LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Certified Accountants |
Statutory Auditors |
Glaslyn |
Ffordd y Parc |
Parc Menai |
Bangor |
Gwynedd |
LL57 4FE |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
INCOME STATEMENT |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
819,340 | 1,319,803 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
872,947 | 1,450,794 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL PERIOD |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
OTHER COMPREHENSIVE INCOME |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
Notes | £ | £ |
PROFIT FOR THE PERIOD |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Tangible assets | 9 |
Investment property | 10 |
CURRENT ASSETS |
Stocks | 11 |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 17 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 18 |
Retained earnings | 19 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 November 2021 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 October 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 December 2023 |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
CASH FLOW STATEMENT |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest element of hire purchase payments paid |
( |
) |
( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets | ( |
) |
Sale of investment property |
Interest received |
Net cash from investing activities | ( |
) |
Cash flows from financing activities |
Capital repayments in year | ( |
) | ( |
) |
Amount introduced by directors | 667,954 | 609,000 |
Amount withdrawn by directors | (597,060 | ) | (685,023 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of period |
2 |
947,101 |
229,398 |
Cash and cash equivalents at end of period |
2 |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
£ | £ |
Profit before taxation |
Depreciation charges |
Loss on disposal of fixed assets |
Finance costs | 17,203 | 2,327 |
Finance income | (517 | ) | (49 | ) |
1,117,507 | 1,509,335 |
Decrease in stocks |
Increase in trade and other debtors | ( |
) | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Period ended 31 December 2023 |
31.12.23 | 1.11.22 |
£ | £ |
Cash and cash equivalents | 1,436,443 | 992,371 |
Bank overdrafts | ( |
) | ( |
) |
1,382,656 | 947,101 |
Year ended 31 October 2022 |
31.10.22 | 1.11.21 |
£ | £ |
Cash and cash equivalents | 992,371 | 272,351 |
Bank overdrafts | ( |
) | ( |
) |
947,101 | 229,398 |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.11.22 | Cash flow | At 31.12.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 992,371 | 444,072 | 1,436,443 |
Bank overdrafts | (45,270 | ) | (8,517 | ) | (53,787 | ) |
947,101 | 1,382,656 |
Debt |
Finance leases | (20,362 | ) | 20,362 | - |
(20,362 | ) | 20,362 | - |
Total | 926,739 | 455,917 | 1,382,656 |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Tayna Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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. |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
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. |
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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
£ | £ |
Wages and salaries |
Other pension costs |
The average number of employees during the period was as follows: |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
Employees |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
£ | £ |
Directors' remuneration |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
£ | £ |
Depreciation - owned assets |
Loss on disposal of fixed assets |
Auditors' remuneration |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
£ | £ |
Hire purchase |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the period was as follows: |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax | ( |
) |
Tax on profit |
7. | DIVIDENDS |
Period |
1.11.22 |
to | Year Ended |
31.12.23 | 31.10.22 |
£ | £ |
Interim |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
8. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2022 |
and 31 December 2023 |
AMORTISATION |
At 1 November 2022 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 October 2022 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 November 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 October 2022 |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
10. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2022 |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 October 2022 |
11. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
12. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Intercompany loan | - | 1,061 |
Holding Company Loan - FPS | - | 1,286,348 |
Further debtors | 517 | - |
Directors' current accounts | - | 70,894 |
Prepayments |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 14) |
Hire purchase contracts (see note 15) |
Payments on account |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 192,058 | 474,070 |
Other creditors |
Accrued expenses |
14. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
15. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
16. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | - | 20,362 |
Bank loans are secured by a charge over all the assets of the company. |
17. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | - | 90,554 |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
17. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 November 2022 |
Balance at 31 December 2023 |
18. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
19. | RESERVES |
Retained |
earnings |
£ |
At 1 November 2022 |
Profit for the period |
Dividends | ( |
) |
At 31 December 2023 |
20. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 31 December 2023 and the year ended 31 October 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
TAYNA LIMITED (REGISTERED NUMBER: 06329858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2022 TO 31 DECEMBER 2023 |
21. | ULTIMATE CONTROLLING PARTY |
The company is a 100% indirectly owned subsidiary of Genuine Parts Company, a company incorporated in the USA, which heads the smallest group preparing financial statements. Copies of the group financial statements of Genuine Parts Company are available from 2999 Wildwood Parkway, Atlanta, GA 30339, USA. |
The company is a 100% subsidiary of Tayna Group Limited, the immediate parent undertaking. |
The ultimate parent undertaking is Genuine Parts Company. In the opinion of the directors the company is ultimately controlled by Genuine Parts Company. |