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REGISTERED NUMBER: 00546428 (England and Wales)















R. C. TINSLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024






R. C. TINSLEY LIMITED (REGISTERED NUMBER: 00546428)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


R. C. TINSLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTORS: Mr R P Tinsley
Mrs P M Ball
Miss J G Tinsley
Mrs A R White





REGISTERED OFFICE: c/o Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR





REGISTERED NUMBER: 00546428 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

R. C. TINSLEY LIMITED (REGISTERED NUMBER: 00546428)

STATEMENT OF FINANCIAL POSITION
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,262,830 1,343,191
Investments 5 - 12
Investment property 6 500,000 500,000
1,762,830 1,843,203

CURRENT ASSETS
Debtors 7 8,118 248,824
Cash at bank and in hand 624,699 576,711
632,817 825,535
CREDITORS
Amounts falling due within one year 8 477,272 779,864
NET CURRENT ASSETS 155,545 45,671
TOTAL ASSETS LESS CURRENT LIABILITIES 1,918,375 1,888,874

PROVISIONS FOR LIABILITIES 379,962 399,861
NET ASSETS 1,538,413 1,489,013

CAPITAL AND RESERVES
Called up share capital 10 12,500 12,500
Revaluation reserve 11 1,137,764 1,197,764
Retained earnings 388,149 278,749
SHAREHOLDERS' FUNDS 1,538,413 1,489,013

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:




Mr R P Tinsley - Director


R. C. TINSLEY LIMITED (REGISTERED NUMBER: 00546428)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1. STATUTORY INFORMATION

R. C. Tinsley Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of produce, excluding value added tax. Sales of produce are recognised upon despatch.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 25% on reducing balance and 10% on cost, 10% on reducing balance, 10% on cost and 6.66 on cost
Plant and machinery etc - 20% on reducing balance, 12.5% on cost, 10% on reducing balance and 2 % on cost (buildings only)

Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment properties have been valued by the directors at the balance sheet date.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year 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 statement of financial position date.


R. C. TINSLEY LIMITED (REGISTERED NUMBER: 00546428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Pension costs and other post-retirement benefits
The pension costs charged in the financial statements represents the contributions payable by the company during the year.

Basic farm payment
The Basic Farm Payment is recognised in the financial statements in accordance with current H. M. Revenue & Customs guidance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 6 April 2023 1,340,000 5,068 1,345,068
Disposals (80,000 ) - (80,000 )
At 5 April 2024 1,260,000 5,068 1,265,068
DEPRECIATION
At 6 April 2023 - 1,877 1,877
Charge for year - 361 361
At 5 April 2024 - 2,238 2,238
NET BOOK VALUE
At 5 April 2024 1,260,000 2,830 1,262,830
At 5 April 2023 1,340,000 3,191 1,343,191

Included in cost or valuation of land and buildings is freehold land of £ 1,260,000 (2023 - £ 1,340,000 ) which is not depreciated.

Cost or valuation at 5 April 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 1,010,815 - 1,010,815
Cost 249,185 5,068 254,253
1,260,000 5,068 1,265,068

R. C. TINSLEY LIMITED (REGISTERED NUMBER: 00546428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 6 April 2023 12
Disposals (12 )
At 5 April 2024 -
NET BOOK VALUE
At 5 April 2024 -
At 5 April 2023 12

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023
and 5 April 2024 500,000
NET BOOK VALUE
At 5 April 2024 500,000
At 5 April 2023 500,000

Fair value at 5 April 2024 is represented by:
£   
Valuation in 2022 500,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 8,118 248,824

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 347,990
Trade creditors 22,862 36,419
Taxation and social security 38,746 264,790
Other creditors 415,664 130,665
477,272 779,864

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 347,990

Fixed and floating charge over assets.

R. C. TINSLEY LIMITED (REGISTERED NUMBER: 00546428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,500 Ordinary £1 12,500 12,500

11. RESERVES
Revaluation
reserve
£   
At 6 April 2023 1,197,764
Movement in year (60,000 )

At 5 April 2024 1,137,764