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REGISTERED NUMBER: 07370962















Tearle & Carver Limited

Unaudited Financial Statements for the Year Ended 29 February 2024






Tearle & Carver Limited (Registered number: 07370962)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


Tearle & Carver Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: K Harrison
M Lawrence





REGISTERED OFFICE: Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD





REGISTERED NUMBER: 07370962





ACCOUNTANTS: Tearle & Carver Limited
Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tearle & Carver Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tearle & Carver Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Tearle & Carver Limited, as a body, in accordance with the terms of our engagement letter dated 30 September 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Tearle & Carver Limited and state those matters that we have agreed to state to the Board of Directors of Tearle & Carver Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tearle & Carver Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tearle & Carver Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tearle & Carver Limited. You consider that Tearle & Carver Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tearle & Carver Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tearle & Carver Limited
Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD


Date: .............................................

Tearle & Carver Limited (Registered number: 07370962)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 117,314 74,611
117,314 74,611

CURRENT ASSETS
Stocks 155,552 155,552
Debtors 6 244,542 326,116
Cash at bank 364,798 237,252
764,892 718,920
CREDITORS
Amounts falling due within one year 7 323,944 306,274
NET CURRENT ASSETS 440,948 412,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

558,262

487,257

PROVISIONS FOR LIABILITIES 33,528 30,075
NET ASSETS 524,734 457,182

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 524,534 456,982
SHAREHOLDERS' FUNDS 524,734 457,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Tearle & Carver Limited (Registered number: 07370962)

Balance Sheet - continued
29 February 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 7 November 2024 and were signed on its behalf by:




K Harrison - Director



M Lawrence - Director


Tearle & Carver Limited (Registered number: 07370962)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Tearle & Carver Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Work in progress
Work in progress is valued at net realisable value.

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 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.

Tearle & Carver Limited (Registered number: 07370962)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 300,000
AMORTISATION
At 1 March 2023
and 29 February 2024 300,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 168,662 7,314 77,486 120,028 373,490
Additions 58,357 21,726 1,848 10,947 92,878
At 29 February 2024 227,019 29,040 79,334 130,975 466,368
DEPRECIATION
At 1 March 2023 122,234 762 65,917 109,966 298,879
Charge for year 22,702 7,260 8,116 12,097 50,175
At 29 February 2024 144,936 8,022 74,033 122,063 349,054
NET BOOK VALUE
At 29 February 2024 82,083 21,018 5,301 8,912 117,314
At 28 February 2023 46,428 6,552 11,569 10,062 74,611

Tearle & Carver Limited (Registered number: 07370962)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 243,852 274,736
Other debtors 690 51,380
244,542 326,116

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,438 28,598
Taxation and social security 214,505 197,675
Other creditors 100,001 80,001
323,944 306,274

8. ULTIMATE CONTROLLING PARTY

The controlling party and the ultimate controlling party are not known.