IRIS Accounts Production v24.3.0.553 07156935 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 15613 25766 43553 42655 59166 52808 15613 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071569352023-02-28071569352024-02-29071569352023-03-012024-02-29071569352022-02-28071569352022-03-012023-02-28071569352023-02-2807156935ns15:EnglandWales2023-03-012024-02-2907156935ns14:PoundSterling2023-03-012024-02-2907156935ns10:Director12023-03-012024-02-2907156935ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2907156935ns10:SmallEntities2023-03-012024-02-2907156935ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2907156935ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2907156935ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2907156935ns10:FullAccounts2023-03-012024-02-2907156935ns10:OrdinaryShareClass12023-03-012024-02-2907156935ns10:Director1412023-02-2807156935ns10:Director1412022-02-2807156935ns10:Director1412023-03-012024-02-2907156935ns10:Director1412022-03-012023-02-2807156935ns10:Director1412023-02-2807156935ns10:Director22023-03-012024-02-2907156935ns10:RegisteredOffice2023-03-012024-02-2907156935ns5:CurrentFinancialInstruments2024-02-2907156935ns5:CurrentFinancialInstruments2023-02-2807156935ns5:Non-currentFinancialInstruments2024-02-2907156935ns5:Non-currentFinancialInstruments2023-02-2807156935ns5:ShareCapital2024-02-2907156935ns5:ShareCapital2023-02-2807156935ns5:RetainedEarningsAccumulatedLosses2024-02-2907156935ns5:RetainedEarningsAccumulatedLosses2023-02-2807156935ns5:LeaseholdImprovements2023-03-012024-02-2907156935ns5:PlantMachinery2023-03-012024-02-2907156935ns5:MotorVehicles2023-03-012024-02-2907156935ns5:ComputerEquipment2023-03-012024-02-2907156935ns5:LeaseholdImprovements2023-02-2807156935ns5:PlantMachinery2023-02-2807156935ns5:MotorVehicles2023-02-2807156935ns5:ComputerEquipment2023-02-2807156935ns5:LeaseholdImprovements2024-02-2907156935ns5:PlantMachinery2024-02-2907156935ns5:MotorVehicles2024-02-2907156935ns5:ComputerEquipment2024-02-2907156935ns5:LeaseholdImprovements2023-02-2807156935ns5:PlantMachinery2023-02-2807156935ns5:MotorVehicles2023-02-2807156935ns5:ComputerEquipment2023-02-2807156935ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2907156935ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2807156935ns10:OrdinaryShareClass12024-02-2907156935ns10:Director222023-02-2807156935ns10:Director222022-02-2807156935ns10:Director222023-03-012024-02-2907156935ns10:Director222022-03-012023-02-2807156935ns10:Director222024-02-2907156935ns10:Director222023-02-28
REGISTERED NUMBER: 07156935 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

South Tees MX Limited

South Tees MX Limited (Registered number: 07156935)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


South Tees MX Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: J O Barr
S J Barr





REGISTERED OFFICE: Falklands Wyn
Holme Lane
Seamer
Middlesbrough
TS9 5LL





REGISTERED NUMBER: 07156935 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

South Tees MX Limited (Registered number: 07156935)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 225,089 232,545

CURRENT ASSETS
Debtors 5 470 20,896

CREDITORS
Amounts falling due within one year 6 92,627 61,180
NET CURRENT LIABILITIES (92,157 ) (40,284 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,932

192,261

CREDITORS
Amounts falling due after more than one
year

7

(12,277

)

(23,091

)

PROVISIONS FOR LIABILITIES (37,800 ) (40,700 )
NET ASSETS 82,855 128,470

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 82,853 128,468
SHAREHOLDERS' FUNDS 82,855 128,470

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.

South Tees MX Limited (Registered number: 07156935)

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 27 November 2024 and were signed on its behalf by:





S J Barr - Director


South Tees MX Limited (Registered number: 07156935)

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

1. STATUTORY INFORMATION

South Tees MX 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 company's principal place of business is at Dormor Way, South Bank, Middlesbrough, TS6 6XH.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Although the company had net current liabilities of £92,157 as at 29 February 2024, these financial statements have been prepared on a going concern basis. The directors are of the opinion that future trading results will be sufficient to enable the company to continue in operation for the foreseeable future. The directors will provide additional financial support to the company if required.

These financial statements do not include any adjustments that would result should the company not continue to trade.

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.
Improvements to leasehold property - 10% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 33% on cost

Certain assets within plant and machinery are being depreciated to their estimated residual value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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.


South Tees MX Limited (Registered number: 07156935)

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

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 95,845 242,702 80,690 1,420 420,657
Additions - 16,534 6,500 - 23,034
At 29 February 2024 95,845 259,236 87,190 1,420 443,691
DEPRECIATION
At 1 March 2023 46,769 92,344 48,026 973 188,112
Charge for year 9,585 11,203 9,422 280 30,490
At 29 February 2024 56,354 103,547 57,448 1,253 218,602
NET BOOK VALUE
At 29 February 2024 39,491 155,689 29,742 167 225,089
At 28 February 2023 49,076 150,358 32,664 447 232,545

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 470 20,896

South Tees MX Limited (Registered number: 07156935)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,438 27,115
Hire purchase contracts 4,319 4,319
Other creditors 37,870 29,746
92,627 61,180

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,318 14,813
Hire purchase contracts 3,959 8,278
12,277 23,091

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 8,278 12,597

The hire purchase liabilities are secured on the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
J O Barr and S J Barr
Balance outstanding at start of year 15,613 25,766
Amounts advanced 43,553 42,655
Amounts repaid (59,166 ) (52,808 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 15,613

The amounts advanced to the directors have no fixed terms of repayment. Interest was charged at 2% on the overdrawn balance.