REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 July 2023 to 31 December 2023 |
for |
Town and Country (Northern) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 July 2023 to 31 December 2023 |
for |
Town and Country (Northern) Limited |
Town and Country (Northern) Limited (Registered number: 04165250) |
Contents of the Financial Statements |
for the Period 1 July 2023 to 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Town and Country (Northern) Limited |
Company Information |
for the Period 1 July 2023 to 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bridge House |
12 Market Street |
Glossop |
Derbyshire |
SK13 8AR |
Town and Country (Northern) Limited (Registered number: 04165250) |
Balance Sheet |
31 December 2023 |
31.12.23 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
Town and Country (Northern) Limited (Registered number: 04165250) |
Notes to the Financial Statements |
for the Period 1 July 2023 to 31 December 2023 |
1. | STATUTORY INFORMATION |
Town and Country (Northern) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans. |
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairments found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
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. |
Town and Country (Northern) Limited (Registered number: 04165250) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 31 December 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 July 2023 |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 30 June 2023 |
Fixed assets above include plant and machinery with a net book value of £335,718 (2023 - £330,864) that are subject to hire purchase. |
5. | STOCKS |
31.12.23 | 30.6.23 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 30.6.23 |
£ | £ |
Trade debtors |
Directors' current accounts | 29,075 | 1,591 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 30.6.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 55,072 | 111,814 |
Other creditors |
Credit card | 5,933 | 827 |
Accrued expenses |
Town and Country (Northern) Limited (Registered number: 04165250) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 31 December 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 30.6.23 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 31 December 2023 and the year ended 30 June 2023: |
31.12.23 | 30.6.23 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |