Tenby Bookshop (Tenby) Limited 07510349 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is Bookshop Digita Accounts Production Advanced 6.30.9574.0 Software true true 07510349 2022-12-01 2023-11-30 07510349 2023-11-30 07510349 bus:CompanySecretaryDirector1 1 2023-11-30 07510349 bus:Director2 1 2023-11-30 07510349 bus:OrdinaryShareClass1 2023-11-30 07510349 core:RetainedEarningsAccumulatedLosses 2023-11-30 07510349 core:ShareCapital 2023-11-30 07510349 core:CurrentFinancialInstruments 2023-11-30 07510349 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 07510349 core:Non-currentFinancialInstruments 2023-11-30 07510349 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 07510349 core:PlantMachinery 2023-11-30 07510349 bus:SmallEntities 2022-12-01 2023-11-30 07510349 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07510349 bus:FullAccounts 2022-12-01 2023-11-30 07510349 bus:RegisteredOffice 2022-12-01 2023-11-30 07510349 bus:CompanySecretaryDirector1 2022-12-01 2023-11-30 07510349 bus:CompanySecretaryDirector1 1 2022-12-01 2023-11-30 07510349 bus:Director2 2022-12-01 2023-11-30 07510349 bus:Director2 1 2022-12-01 2023-11-30 07510349 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 07510349 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07510349 core:PlantMachinery 2022-12-01 2023-11-30 07510349 countries:AllCountries 2022-12-01 2023-11-30 07510349 2022-11-30 07510349 bus:CompanySecretaryDirector1 1 2022-11-30 07510349 bus:Director2 1 2022-11-30 07510349 core:PlantMachinery 2022-11-30 07510349 2021-12-01 2022-11-30 07510349 2022-11-30 07510349 bus:OrdinaryShareClass1 2022-11-30 07510349 core:RetainedEarningsAccumulatedLosses 2022-11-30 07510349 core:ShareCapital 2022-11-30 07510349 core:CurrentFinancialInstruments 2022-11-30 07510349 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 07510349 core:Non-currentFinancialInstruments 2022-11-30 07510349 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 07510349 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 07510349

Tenby Bookshop (Tenby) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Tenby Bookshop (Tenby) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Tenby Bookshop (Tenby) Limited

Company Information

Directors

Ms J Jones

Mr M Evans

Company secretary

Ms J Jones

Registered office

Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

 

Tenby Bookshop (Tenby) Limited

(Registration number: 07510349)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,828

5,449

Current assets

 

Stocks

6

14,000

14,000

Debtors

7

157,656

138,074

Cash at bank and in hand

 

35,914

8,850

 

207,570

160,924

Creditors: Amounts falling due within one year

8

(130,264)

(65,654)

Net current assets

 

77,306

95,270

Total assets less current liabilities

 

81,134

100,719

Creditors: Amounts falling due after more than one year

8

-

(30,000)

Provisions for liabilities

(727)

(1,035)

Net assets

 

80,407

69,684

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

80,307

69,584

Total equity

 

80,407

69,684

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Tenby Bookshop (Tenby) Limited

(Registration number: 07510349)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 21 August 2024 and signed on its behalf by:
 

.........................................
Mr M Evans
Director

   
     
 

Tenby Bookshop (Tenby) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

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:
Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

These financial statements were authorised for issue by the Board on 21 August 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

Tenby Bookshop (Tenby) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

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

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.

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.

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.

 

Tenby Bookshop (Tenby) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 directors) during the year, was 5 (2022 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,620

317

 

Tenby Bookshop (Tenby) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

9,827

9,827

At 30 November 2023

9,827

9,827

Depreciation

At 1 December 2022

4,378

4,378

Charge for the year

1,621

1,621

At 30 November 2023

5,999

5,999

Carrying amount

At 30 November 2023

3,828

3,828

At 30 November 2022

5,449

5,449

6

Stocks

2023
£

2022
£

Other inventories

14,000

14,000

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

16,449

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11

149,860

121,000

Prepayments

 

7,796

625

 

157,656

138,074

8

Creditors

Creditors: amounts falling due within one year

 

Tenby Bookshop (Tenby) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

-

10,000

Trade creditors

 

27,661

21,310

Taxation and social security

 

2,633

3,970

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

72,903

-

Other related parties

 

115

1,118

Corporation tax liability

 

3,194

5,811

Other creditors

 

23,758

23,445

 

130,264

65,654

Due after one year

 

Loans and borrowings

10

-

30,000

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

-

30,000

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

30,000

 

Tenby Bookshop (Tenby) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

10,000

11

Related party transactions

During the year the company provided financial assistance to Cobourg Development Company Limited, a company controlled by the directors. The balance due to the company at the balance sheet date was £145,300 (2022 £20,000) This loan is interest free and repayable on demand and has been included in note 11.

During the year the company provided financial assistance to Harbwr Saundersfoot Limited, a company controlled by the directors. The balance due to the company at the balance sheet date was £4,560 (2022 £0) This loan is interest free and repayable on demand and has been included in note 11.

During the year the company received financial assistance from Harbwr Tenby Limited, a company controlled by the director. The balance due from the company at the balance sheet date was £43,000 (2022 £0) This loan is interest free and repayable on demand and has been included in note 10.

During the year the company received financial assistance from Hope & Anchor Tenby Limited, a company controlled by the director. The balance due from the company at the balance sheet date was £29,903 (2022 £0) This loan is interest free and repayable on demand and has been included in note 10.

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr M Evans

35,500

37,549

(73,106)

(57)

         
       

Ms J Jones

35,500

37,549

(73,106)

(57)