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REGISTERED NUMBER: 00014873 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Central Tramway Company,Scarborough
Limited(The)

Central Tramway Company,Scarborough
Limited(The) (Registered number: 00014873)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Central Tramway Company,Scarborough
Limited(The)

Company Information
for the Year Ended 31 October 2024







Directors: I Purshouse
N Purshouse
V Purshouse
W Purshouse
A Bartle
G D Purshouse
C J Purshouse
J C Purshouse


Secretary: J Marshall


Registered office: 16 Percy Street
Rotherham
South Yorkshire
S65 1ED


Registered number: 00014873 (England and Wales)


Accountants: Ashby Berry Coulsons Ltd
2 Belgrave Crescent
Scarborough
North Yorkshire
YO11 1UB


Bankers: HSBC Bank Plc
33 St.Nicholas Street
Scarborough
North Yorkshire
YO11 2HN

Central Tramway Company,Scarborough
Limited(The) (Registered number: 00014873)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 128,738 146,701
Investment property 5 660,000 660,000
788,738 806,701

Current assets
Stocks 7,747 6,355
Debtors 6 27,666 15,612
Cash at bank and in hand 349,119 627,573
384,532 649,540
Creditors
Amounts falling due within one year 7 115,589 86,935
Net current assets 268,943 562,605
Total assets less current liabilities 1,057,681 1,369,306

Creditors
Amounts falling due after more than one
year

8

170,833

15,833
Net assets 886,848 1,353,473

Central Tramway Company,Scarborough
Limited(The) (Registered number: 00014873)

Balance Sheet - continued
31 October 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 9 6,970 10,510
Share premium 10 765 765
Revaluation reserve 10 105,220 105,220
Capital redemption reserve 10 3,540 -
Retained earnings 10 770,353 1,236,978
Shareholders' funds 886,848 1,353,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 12 December 2024 and were signed on its behalf by:





I Purshouse - Director


Central Tramway Company,Scarborough
Limited(The) (Registered number: 00014873)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. Statutory information

Central Tramway Company,Scarborough Limited(The) 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on 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.

Stocks
Stock is valued at the lower of cost and net realisable value.

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.


Central Tramway Company,Scarborough
Limited(The) (Registered number: 00014873)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. Accounting policies - continued
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.

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 24 (2023 - 24 ) .

4. Tangible fixed assets
Freehold Plant and
property machinery Totals
£    £    £   
Cost
At 1 November 2023
and 31 October 2024 3,000 229,486 232,486
Depreciation
At 1 November 2023 - 85,785 85,785
Charge for year - 17,963 17,963
At 31 October 2024 - 103,748 103,748
Net book value
At 31 October 2024 3,000 125,738 128,738
At 31 October 2023 3,000 143,701 146,701

Central Tramway Company,Scarborough
Limited(The) (Registered number: 00014873)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. Investment property
Total
£   
Fair value
At 1 November 2023
and 31 October 2024 660,000
Net book value
At 31 October 2024 660,000
At 31 October 2023 660,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 1993 67,685
Valuation in 1994 3,365
Valuation in 1995 (1,357 )
Valuation in 2001 (6,721 )
Valuation in 2002 (861 )
Valuation in 2003 (20,000 )
Valuation in 2007 75,000
Valuation in 2011 6,347
Valuation in 2012 (15,569 )
Valuation in 2019 (2,669 )
Cost 554,780
660,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 554,780 554,780

The investment properties were valued on a fair value basis on 31 October 2023 by the directors .

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 11,163 8,905
VAT 10,883 2,827
Prepayments 5,620 3,880
27,666 15,612

Central Tramway Company,Scarborough
Limited(The) (Registered number: 00014873)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 30,000 10,000
Trade creditors 17,486 3,975
Tax 47,974 56,234
Other creditors 248 248
Directors' current accounts 60 60
Accrued expenses 19,821 16,418
115,589 86,935

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 25,833 10,000
Bank loans - 2-5 years 145,000 5,833
170,833 15,833

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,394 Ordinary shares £5 6,970 10,510

10. Reserves
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 November 2023 1,236,978 765 105,220 - 1,342,963
Profit for the year 121,729 121,729
Dividends (37,530 ) (37,530 )
Purchase of own shares (550,824 ) - - 3,540 (547,284 )
At 31 October 2024 770,353 765 105,220 3,540 879,878

Central Tramway Company,Scarborough
Limited(The) (Registered number: 00014873)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

11. Related party disclosures

Rent of £101,519 (2023- £94,035) in respect of properties at Rotherham and Scarborough were collected through Hume & Co a rent collection agency owned by Mr I Purshouse who is a director of Central Tramway Co. Ltd.
Commission of £10,152 was charged during the year which is 10% of the rent received per quarter plus any arrears collected.