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Registered number: 13687260
Tyneclean Window Gutter Fascia Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
Hebburn
South Tyneside
NE31 2EQ
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 13687260
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,990 28,864
32,990 28,864
CURRENT ASSETS
Stocks 5 300 9,300
Debtors 6 3,598 1,482
Cash at bank and in hand 7,807 14,319
11,705 25,101
Creditors: Amounts Falling Due Within One Year 7 (5,202 ) (23,783 )
NET CURRENT ASSETS (LIABILITIES) 6,503 1,318
TOTAL ASSETS LESS CURRENT LIABILITIES 39,493 30,182
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (3,385 ) (1,969 )
NET ASSETS 36,108 28,213
CAPITAL AND RESERVES
Called up share capital 10 10
Profit and Loss Account 36,098 28,203
SHAREHOLDERS' FUNDS 36,108 28,213
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Suniga
Director
28/02/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 November 2022 10 16,249 16,259
Profit for the year and total comprehensive income - 12,954 12,954
Dividends paid - (1,000) (1,000)
As at 31 October 2023 and 1 November 2023 10 28,203 28,213
Profit for the year and total comprehensive income - 10,895 10,895
Dividends paid - (3,000) (3,000)
As at 31 October 2024 10 36,098 36,108
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Tyneclean Window Gutter Fascia Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13687260 . The registered office is 73 Avon Avenue, North Shields, Tyne and Wear, NE29 7RT.
The company was formerly trading as ' Tyneclean Limited'.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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.
...CONTINUED
Page 4
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2.5. Taxation - continued
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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2023 28,411 14,760 43,171
Additions 7,934 5,417 13,351
Disposals (1,460 ) - (1,460 )
As at 31 October 2024 34,885 20,177 55,062
Depreciation
As at 1 November 2023 8,993 5,314 14,307
Provided during the period 5,290 2,973 8,263
Disposals (498 ) - (498 )
As at 31 October 2024 13,785 8,287 22,072
Net Book Value
As at 31 October 2024 21,100 11,890 32,990
As at 1 November 2023 19,418 9,446 28,864
5. Stocks
2024 2023
£ £
Materials 300 9,300
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,199 328
Prepayments and accrued income 2,399 1,154
3,598 1,482
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,325 2,207
PAYE Payable 411 446
VAT 3,144 1,866
Pensions payable 145 -
Accruals and deferred income 124 1,681
Director's loan account 53 17,583
5,202 23,783
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 3,385 1,969
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 3,000 1,000
Dividends are paid to the director during the year, as above.
Page 6