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COMPANY REGISTRATION NUMBER: 05344369
Ty-Canol Restorations Limited
Filleted Unaudited Financial Statements
31 December 2023
Ty-Canol Restorations Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
12,184
8,497
Current assets
Stocks
23,866
22,305
Debtors
6
8,995
11,880
Cash at bank and in hand
77
1,691
--------
--------
32,938
35,876
Creditors: amounts falling due within one year
7
61,996
63,117
--------
--------
Net current liabilities
29,058
27,241
--------
--------
Total assets less current liabilities
( 16,874)
( 18,744)
--------
--------
Net liabilities
( 16,874)
( 18,744)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 16,875)
( 18,745)
--------
--------
Shareholders deficit
( 16,874)
( 18,744)
--------
--------
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ty-Canol Restorations Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Mr W D Crook
Director
Company registration number: 05344369
Ty-Canol Restorations 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 Lamorna Court, 43 Wollaton Road, Beeston, Nottingham, NG9 2NG.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The accounts have been prepared on a going concern basis and are subject to the continued support of the directors.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
25% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Plant and machinery
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Workshop alterations
Computer equipment
Fixtures and fittings
Motor vehicles
Plant and machinery
Total
£
£
£
£
£
£
Cost
At 1 Jan 2023
5,210
4,739
1,967
17,770
29,686
Additions
349
5,000
415
5,764
------
------
------
------
--------
--------
At 31 Dec 2023
5,210
5,088
1,967
5,000
18,185
35,450
------
------
------
------
--------
--------
Depreciation
At 1 Jan 2023
4,739
1,840
14,610
21,189
Charge for the year
87
25
1,250
715
2,077
------
------
------
------
--------
--------
At 31 Dec 2023
4,826
1,865
1,250
15,325
23,266
------
------
------
------
--------
--------
Carrying amount
At 31 Dec 2023
5,210
262
102
3,750
2,860
12,184
------
------
------
------
--------
--------
At 31 Dec 2022
5,210
127
3,160
8,497
------
------
------
------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
6,194
9,546
Other debtors
2,801
2,334
------
--------
8,995
11,880
------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,529
11,982
Social security and other taxes
839
351
Other creditors
55,628
50,784
--------
--------
61,996
63,117
--------
--------