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REGISTERED NUMBER: 00452971 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

R. TINCKNELL & SON LIMITED

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R. TINCKNELL & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: P F Tincknell
R J Tincknell
D J Tincknell





SECRETARY: P F Tincknell





REGISTERED OFFICE: Cathedral View Offices
19 Wookey Hole Road
Wells
Somerset
BA5 2BT





REGISTERED NUMBER: 00452971 (England and Wales)





ACCOUNTANTS: Gordon Wood Scott & Partners Limited
Chartered Accountants
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,699,156 2,808,309
Investments 5 2 2
Investment property 6 36,351,001 35,812,000
39,050,159 38,620,311

CURRENT ASSETS
Stocks 699,940 751,992
Debtors 7 1,329,815 1,639,945
Cash at bank and in hand 3,495 16,465
2,033,250 2,408,402
CREDITORS
Amounts falling due within one year 8 (5,442,921 ) (9,669,603 )
NET CURRENT LIABILITIES (3,409,671 ) (7,261,201 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,640,488

31,359,110

CREDITORS
Amounts falling due after more than one
year

9

(13,160,248

)

(9,465,462

)

PROVISIONS FOR LIABILITIES (2,221,089 ) (1,914,243 )
NET ASSETS 20,259,151 19,979,405

CAPITAL AND RESERVES
Called up share capital 11 1,447,066 1,447,066
Revaluation reserve 12 737,321 745,816
Retained earnings 12 18,074,764 17,786,523
SHAREHOLDERS' FUNDS 20,259,151 19,979,405

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

BALANCE SHEET - continued
30 APRIL 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 and authorised by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:




P F Tincknell - Director



D J Tincknell - Director


R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

R. Tincknell & Son 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 as modified by the revaluation of certain assets.

The company meets its day-to-day working capital requirements using short term loans from a related company, Tincknell Fuels Limited. The directors, having considered profitability and working capital requirements, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

At the year end one of the company's bank loans amounting to £4,000,000 was due for repayment within one year of the balance sheet date. The loan was renewed after the year end.

For the reasons set out above, a going concern basis of accounting in preparing the annual financial statements continues to be adopted.

Turnover
Turnover represents the value of retail sales, land and property sales, and gross rents receivable, all exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - at variable rates on reducing balance

Freehold Property
Freehold property held at 1 May 2015 (date of transition to FRS102) is included in the accounts at fair value measured at 1 May 2015 and used as deemed cost going forward.

Investment Property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order for the accounts to give a true and fair view, since the current value of investments properties, and changes to that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress is stated at the lower of cost and net realisable value. Stocks of finished goods for resale are included at average cost.

Financial instruments
Short term trade creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 44 (2023 - 45 ) .

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 May 2023 2,183,495 2,346,579 4,530,074
Additions - 69,807 69,807
Disposals - (99,353 ) (99,353 )
At 30 April 2024 2,183,495 2,317,033 4,500,528
DEPRECIATION
At 1 May 2023 134,990 1,586,775 1,721,765
Charge for year 17,270 139,281 156,551
Eliminated on disposal - (76,944 ) (76,944 )
At 30 April 2024 152,260 1,649,112 1,801,372
NET BOOK VALUE
At 30 April 2024 2,031,235 667,921 2,699,156
At 30 April 2023 2,048,505 759,804 2,808,309

The freehold property held at the date of transition to FRS102 on 1 May 2015 was measured at fair value of £2,042,219. The company has elected to use this figure as the deemed cost from 1 May 2015.

If the property had not been revalued at 1 May 2015, the cost and accumulated depreciation at the year end would be as follows:
£

Cost1,404,460
Accumulated depreciation(151,660)
Total1,252,800

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2023 99,524
Disposals (19,213 )
Transfer to ownership (80,311 )
At 30 April 2024 -
DEPRECIATION
At 1 May 2023 31,704
Charge for year 8,478
Eliminated on disposal (14,782 )
Transfer to ownership (25,400 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 67,820

5. FIXED ASSET INVESTMENTS

The company owns all of the issued ordinary share capital of R Tincknell Limited and Tincknells Limited, neither of which traded during the year. They are both registered and incorporated in England. Both companies each had net assets at 30 April 2024 of £1 (2023 - £1) and their profit for the year was £nil (2023 - £nil).

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 35,812,000
Additions 396,472
Revaluations 142,529
At 30 April 2024 36,351,001
NET BOOK VALUE
At 30 April 2024 36,351,001
At 30 April 2023 35,812,000

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. INVESTMENT PROPERTY - continued

The investment property was valued at fair value at the year end by the directors of the company, based on information afforded by recent professional valuations of similar properties.

The values shown above for investment property are analysed as follows:
£

Revaluation surplus 12,303,053
Cost 24,047,947
Total 36,351,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 580,378 794,753
Other debtors 749,437 845,192
1,329,815 1,639,945

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 2,795,813 7,375,232
Hire purchase contracts - 32,371
Trade creditors 915,313 1,214,220
Taxation and social security 276,615 138,826
Other creditors 1,455,180 908,954
5,442,921 9,669,603

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 13,160,248 9,456,929
Hire purchase contracts - 8,533
13,160,248 9,465,462

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,799,473 4,799,473

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 15,956,061 16,832,161

The bank loans and overdraft are secured by fixed charges over various freehold and investment property owned by the company and a debenture held against the company's assets.

11. CALLED UP SHARE CAPITAL

Allotted, Called Up and Fully Paid:
Number: Class: Nominal 30.4.22 30.4.21
Value £ £

13,210 C Ordinary £1 13,210 13,210
17,608 D Ordinary £1 17,608 17,608
17,607 E Ordinary £1 17,607 17,607
17,607 F Ordinary £1 17,607 17,607
33,017 A Deferred Ordinary £1 33,017 33,017
33,017 B Deferred Ordinary £1 33,017 33,017
132,066 132,066

1,215,000 7% Deferred Preference Shares £1 1,215,000 1,215,000
100,000 6% Deferred Preference Shares £1 100,000 100,000
1,315,000 1,315,000


Total 1,447,066 1,447,066

The A Deferred Ordinary shares carry voting rights, but no participation rights other than to receive par value on a winding up. The B Ordinary Deferred shares and the Deferred Preference shares carry no rights, except the repayment of par value on a winding up.

The C Ordinary, D Ordinary, E Ordinary and F Ordinary shares rank pari passu in all respects save that the directors may declare a dividend on any one or more of the classes to the exclusion of the remainder of shares in the company.

R. TINCKNELL & SON LIMITED (REGISTERED NUMBER: 00452971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 17,786,523 745,816 18,532,339
Profit for the year 497,246 497,246
Dividends (217,500 ) (217,500 )
Transfer 8,495 (8,495 ) -
At 30 April 2024 18,074,764 737,321 18,812,085

Revaluation Reserve
The Revaluation Reserve represents the revaluation surplus of the land and buildings revalued at the date of transition to FRS102 less the deferred tax provision on the gain for tax purposes. The transfer of £8,495 from Retained Earnings during the year comprises the depreciation charged on the revaluation of the buildings which passed through the Income Statement.

Retained Earnings
Retained earnings include both realised and unrealised profits.

13. OTHER FINANCIAL COMMITMENTS

The total amount of commitments that are not included in the balance sheet are £4,213,075 (2023 - £4,274,475). The commitments relate to rent payable in future periods up to the expiry date of the related leases.

14. RELATED PARTY DISCLOSURES

At the year end the company owed £813,600 (2023 - £299,805) to some of the directors on which interest was payable and £36,403 (2023 - £32,719) to shareholders on which no interest was payable.