Registered number
04675537
T & A Varley Limited
Filleted Accounts
30 April 2024
T & A Varley Limited
Registered number: 04675537
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 900 1,059
Current assets
Stocks 2,250 1,000
Debtors 5 122 1,506
Cash at bank and in hand - 104
2,372 2,610
Creditors: amounts falling due within one year 6 (21,764) (12,685)
Net current liabilities (19,392) (10,075)
Net liabilities (18,492) (9,016)
Capital and reserves
Called up share capital 100 100
Profit and loss account (18,592) (9,116)
Shareholder's funds (18,492) (9,016)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A D Varley
Director
Approved by the board on 20.01.25
T & A Varley Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 50,000
At 30 April 2024 50,000
Amortisation
At 1 May 2023 50,000
At 30 April 2024 50,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 4,785
At 30 April 2024 4,785
Depreciation
At 1 May 2023 3,726
Charge for the year 159
At 30 April 2024 3,885
Net book value
At 30 April 2024 900
At 30 April 2023 1,059
5 Debtors 2024 2023
£ £
Trade debtors 122 1,506
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,968 -
Trade creditors 941 1,960
Taxation and social security costs 1,771 7,359
Other creditors 17,084 3,366
21,764 12,685
7 Other information
T & A Varley Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Widgeon Close
Bradwell
Great Yarmouth
NR31 8JU
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