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REGISTERED NUMBER: 03923675 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

TIM FRY LANDROVERS LIMITED

TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TIM FRY LANDROVERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr T W Fry
Mrs L J Fry





SECRETARY: Mr T W Fry





REGISTERED OFFICE: Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH





REGISTERED NUMBER: 03923675 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - (126 )

CURRENT ASSETS
Stocks 5 232,833 205,866
Debtors 6 14,729 3,020
Cash at bank and in hand 752 752
248,314 209,638
CREDITORS
Amounts falling due within one year 7 1,523,296 1,453,016
NET CURRENT LIABILITIES (1,274,982 ) (1,243,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,274,982

)

(1,243,504

)

CREDITORS
Amounts falling due after more than one
year

8

13,333

23,333
NET LIABILITIES (1,288,315 ) (1,266,837 )

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings (1,288,317 ) (1,266,839 )
SHAREHOLDERS' FUNDS (1,288,315 ) (1,266,837 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675)

BALANCE SHEET - continued
31 JANUARY 2024


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 by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





Mr T W Fry - Director


TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Tim Fry Landrovers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis on the understanding that the director, Mr T Fry, will continue to support the company by not seeking the repayment of the debt due to his soletrader business, or his loan as a director, in preference to other creditors. Mr T Fry will also continue to support the company in order for it to meet its liabilities as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

Stocks
Stock of vehicles is valued at the lower of cost and net realisable value. The industry guide bottom trade price is used as the measure for net realisable value. In assessing net realisable value, due consideration is also given to the estimated cost in bringing a vehicle to a saleable condition.

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 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 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 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.

TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2023 2,979
Disposals (2,979 )
At 31 January 2024 -
DEPRECIATION
At 1 February 2023 3,105
Eliminated on disposal (2,979 )
Reclassification/transfer (126 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 (126 )

5. STOCKS
31.1.24 31.1.23
£    £   
Stocks 232,833 205,866

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
VAT 14,729 3,020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts (see note 9) 250,355 199,095
Trade creditors 165,586 379,070
Social security and other taxes 755 2,138
Other creditors 3,677 4,466
Tim Fry Landrovers loan - 71,567
Directors' current accounts 1,097,647 794,080
Accrued expenses 5,276 2,600
1,523,296 1,453,016

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 9) 13,333 23,333

TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 240,355 189,095
Bank loans 10,000 10,000
250,355 199,095

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,333 13,333

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdrafts 240,355 189,095
Bank loans 23,333 33,333
263,688 222,428

The bank overdraft and bank loan are secured by way of personal guarantees given by Mr T Fry (Director).

The overdraft is secured by a legal charge, dated 15 September 2010 in favour of Lloyds TSB Bank PLC, over all fixed assets, properties, and investments.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
2 Ordinary £1 2 2

12. CONTROL RELATIONSHIPS

The ultimate controlling party is Mr T Fry by virtue of his shareholding.