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REGISTERED NUMBER: SC317554 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Tyrrells of Burnbank Limited

Tyrrells of Burnbank Limited (Registered number: SC317554)






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


Tyrrells of Burnbank Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: John Tyrrell
James Tyrrell Jnr





SECRETARY: James Tyrrell Jnr





REGISTERED OFFICE: 17 Burnbank Centre
Hamilton
ML3 0NQ





REGISTERED NUMBER: SC317554 (Scotland)





ACCOUNTANTS: Clements
Chartered Accountants
39 St Vincent Place
Glasgow
G1 2ER

Tyrrells of Burnbank Limited (Registered number: SC317554)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 75,000 100,000
Tangible assets 5 48,316 72,585
123,316 172,585

CURRENT ASSETS
Stocks 132,193 120,175
Debtors 6 21,291 17,291
Cash at bank and in hand 477,294 393,655
630,778 531,121
CREDITORS
Amounts falling due within one year 7 279,392 237,902
NET CURRENT ASSETS 351,386 293,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

474,702

465,804

CREDITORS
Amounts falling due after more than one
year

8

(10,834

)

(20,833

)

PROVISIONS FOR LIABILITIES (4,845 ) (4,004 )
NET ASSETS 459,023 440,967

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 458,923 440,867
SHAREHOLDERS' FUNDS 459,023 440,967

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.

Tyrrells of Burnbank Limited (Registered number: SC317554)

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 by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





James Tyrrell Jnr - Director


Tyrrells of Burnbank Limited (Registered number: SC317554)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Tyrrells of Burnbank Limited is a private company, limited by shares , registered in Scotland. 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
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax. Revenue is recognised when the company has the right to receive it.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Financial instruments
The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

Tyrrells of Burnbank Limited (Registered number: SC317554)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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 13 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 500,000
AMORTISATION
At 1 May 2023 400,000
Charge for year 25,000
At 30 April 2024 425,000
NET BOOK VALUE
At 30 April 2024 75,000
At 30 April 2023 100,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 195,422
Disposals (63,654 )
At 30 April 2024 131,768
DEPRECIATION
At 1 May 2023 122,837
Charge for year 13,437
Eliminated on disposal (52,822 )
At 30 April 2024 83,452
NET BOOK VALUE
At 30 April 2024 48,316
At 30 April 2023 72,585

Tyrrells of Burnbank Limited (Registered number: SC317554)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023 20,132
Transfer to ownership (20,132 )
At 30 April 2024 -
DEPRECIATION
At 1 May 2023 15,355
Charge for year 1,194
Transfer to ownership (16,549 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 4,777

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 12,874 8,874
Other debtors 8,417 8,417
21,291 17,291

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 3,339
Trade creditors 98,389 101,696
Taxation and social security 109,947 89,485
Other creditors 61,056 33,382
279,392 237,902

Included in other creditors are directors' current accounts which are unsecured, interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 10,834 20,833

Tyrrells of Burnbank Limited (Registered number: SC317554)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £106,400 (2023 - £65,040) were paid to the directors .

Dividends paid to the spouse and son of one of the directors £33,600.