REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30th November 2024 |
for |
Tynelake Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30th November 2024 |
for |
Tynelake Limited |
Tynelake Limited (Registered number: 01224038) |
Contents of the Financial Statements |
for the Year Ended 30th November 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Tynelake Limited |
Company Information |
for the Year Ended 30th November 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
River View |
96 High Street |
Garstang |
Preston |
Lancashire |
PR3 1WZ |
BANKERS: |
5 James Street |
Accrington |
Lancashire |
BB5 1NB |
Tynelake Limited (Registered number: 01224038) |
Balance Sheet |
30th November 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 9 |
Capital redemption reserve | 9 |
Other reserves | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
Tynelake Limited (Registered number: 01224038) |
Notes to the Financial Statements |
for the Year Ended 30th November 2024 |
1. | STATUTORY INFORMATION |
Tynelake Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Revenue 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 |
Freehold property | - |
Computer equipment | - |
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. |
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective June 2002), it is a departure from the general requirement of the Companies Act 1985 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of which might otherwise have been charged cannot be separately identified or quantified. |
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. |
Tynelake Limited (Registered number: 01224038) |
Notes to the Financial Statements - continued |
for the Year Ended 30th November 2024 |
2. | ACCOUNTING POLICIES - continued |
Investments |
Current asset investments is stated at its historical cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
COST |
At 1st December 2023 |
Additions |
At 30th November 2024 |
DEPRECIATION |
At 1st December 2023 |
Charge for year |
At 30th November 2024 |
NET BOOK VALUE |
At 30th November 2024 |
At 30th November 2023 |
Included in cost of land and buildings is freehold land of £ 45,034 (2023 - £ 45,034 ) which is not depreciated. |
5. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
2024 | 2023 |
£ | £ |
Investment properties | 470,000 | 470,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Deferred tax asset |
Prepayments |
7. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Listed investments | 542,896 | 560,497 |
Other investments |
Tynelake Limited (Registered number: 01224038) |
Notes to the Financial Statements - continued |
for the Year Ended 30th November 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Accruals and deferred income |
9. | RESERVES |
Capital |
Retained | Share | redemption | Other |
earnings | premium | reserve | reserves | Totals |
£ | £ | £ | £ | £ |
At 1st December 2023 | 1,522,627 |
Profit for the year | - | - | - |
Dividends | ( |
) | - | - | - | ( |
) |
At 30th November 2024 | 1,548,590 |