Central Tramway Co, Scarborough Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00014873 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Central Tramway Company,Scarborough

Limited(The)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

Fixed assets

Tangible assets

4

128,738

146,701

Investment property

5

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

Capital and reserves

Called up share capital

9

6,970

10,510

Share premium

10

765

Revaluation reserve

10

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

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.

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

Charge for year

-

17,963

At 31 October 2024

-

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

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

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

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

Directors' current accounts

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

Totals

£

At 1 November 2023

1,236,978

765

105,220

-

1,342,963

Profit for the year

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

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.