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Company No: 169283 (England and Wales)

TYLER MORTGAGE MANAGEMENT LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

TYLER MORTGAGE MANAGEMENT LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

TYLER MORTGAGE MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
TYLER MORTGAGE MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 4,379 8,622
4,379 8,622
Current assets
Debtors 4 25,836 53,413
Investments 18,312 18,312
Cash at bank and in hand 1,282,484 1,303,088
1,326,632 1,374,813
Creditors: amounts falling due within one year 5 ( 58,733) ( 86,966)
Net current assets 1,267,899 1,287,847
Total assets less current liabilities 1,272,278 1,296,469
Provision for liabilities 6 ( 1,095) ( 2,156)
Net assets 1,271,183 1,294,313
Capital and reserves
Called-up share capital 7 505 505
Capital redemption reserve 1,508 1,508
Profit and loss account 1,269,170 1,292,300
Total shareholder's funds 1,271,183 1,294,313

For the financial 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 financial statements of Tyler Mortgage Management Ltd (registered number: 169283) were approved and authorised for issue by the Director. They were signed on its behalf by:

Mr Simon Tyler
Director

01 August 2024

TYLER MORTGAGE MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
TYLER MORTGAGE MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tyler Mortgage Management Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Pepperbox House, Horsham Road, , Guildford GU5 0LN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 35,062 35,062
Additions 1,433 1,433
Disposals ( 17,500) ( 17,500)
At 31 December 2023 18,995 18,995
Accumulated depreciation
At 01 January 2023 26,440 26,440
Charge for the financial year 2,759 2,759
Disposals ( 14,583) ( 14,583)
At 31 December 2023 14,616 14,616
Net book value
At 31 December 2023 4,379 4,379
At 31 December 2022 8,622 8,622

4. Debtors

2023 2022
£ £
Amounts owed by group undertakings 12,309 9,209
Other debtors 13,527 44,204
25,836 53,413

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 31,127 63,894
Other creditors 27,606 23,072
58,733 86,966

6. Provision for liabilities

2023 2022
£ £
Deferred tax 1,095 2,156

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
499 Ordinary shares of £ 1.00 each 499 499
1 Ordinary B share of £ 1.00 1 1
3 Ordinary C shares of £ 1.00 each 3 3
1 Ordinary D share of £ 1.00 1 1
1 Ordinary E share of £ 1.00 1 1
505 505

8. Related party transactions

Other related party transactions

2023 2022
£ £
Group undertaking 12,309 9,208