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REGISTERED NUMBER: 02253445 (England and Wales)






























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

TYSELEY LOCOMOTIVE WORKS
LIMITED

TYSELEY LOCOMOTIVE WORKS
LIMITED (REGISTERED NUMBER: 02253445)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TYSELEY LOCOMOTIVE WORKS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr C M Whitehouse
Mr A Meanley
Mr D Fisher
Mr J E B Minards



REGISTERED OFFICE: 670 Warwick Road
Tyseley
Birmingham
B11 2HL



REGISTERED NUMBER: 02253445 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr P Bott FCA



AUDITORS: Mark J Rees LLP Chartered Accountants
and Statutory Auditors
Granville Hall
Granville Road
Leicester
LE1 7RU

TYSELEY LOCOMOTIVE WORKS
LIMITED (REGISTERED NUMBER: 02253445)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 365,121 12,279

CURRENT ASSETS
Stocks - 6,457
Debtors 5 366,842 595,722
Cash at bank and in hand - 217,548
366,842 819,727
CREDITORS
Amounts falling due within one year 6 412,363 624,924
NET CURRENT (LIABILITIES)/ASSETS (45,521 ) 194,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

319,600

207,082

CREDITORS
Amounts falling due after more than one year 7 312,930 201,167
NET ASSETS 6,670 5,915

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 6,668 5,913
SHAREHOLDERS' FUNDS 6,670 5,915

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 21 May 2025 and were signed on its behalf by:





Mr J E B Minards - Director


TYSELEY LOCOMOTIVE WORKS
LIMITED (REGISTERED NUMBER: 02253445)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Tyseley Locomotive Works Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover relating to contract services is recognised in the period to which the work was performed.

The company provides services to customers under standard terms and conditions. In all cases revenue is recognised when the risk and rewards to ownership are transferred and this is defined to be in the period the work is performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - equal instalments over the lease period
Plant and equipment - at varying rates on cost
Office equipment - 25% on cost

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of fair value less costs to sell and value-in-use, are recognised as impairment losses. Impairments of revalued assets are treated as a revaluation decrease. All other impairment losses are recognised in profit and loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for defective items where appropriate.


TYSELEY LOCOMOTIVE WORKS
LIMITED (REGISTERED NUMBER: 02253445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the company has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 17 ) .

TYSELEY LOCOMOTIVE WORKS
LIMITED (REGISTERED NUMBER: 02253445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Long Plant and Office
leasehold equipment equipment Totals
£    £    £    £   
COST
At 1 April 2023 - 50,463 26,477 76,940
Additions 370,858 - - 370,858
At 31 March 2024 370,858 50,463 26,477 447,798
DEPRECIATION
At 1 April 2023 - 38,184 26,477 64,661
Charge for year 15,452 2,564 - 18,016
At 31 March 2024 15,452 40,748 26,477 82,677
NET BOOK VALUE
At 31 March 2024 355,406 9,715 - 365,121
At 31 March 2023 - 12,279 - 12,279

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 275,921 246,400
Amounts owed by group undertakings 70,288 8,143
Other debtors 20,633 341,179
366,842 595,722

The amounts owed to group undertakings bear no interest and have no fixed date for repayment

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 46,686 10,000
Trade creditors 167,906 478,376
Amounts owed to group undertakings 34,838 76,377
Paye/NI payable 45,424 18,527
Vat liability 30,549 -
Other creditors 5,379 4,184
Accruals and deferred income 50,676 37,460
Deferred grant 30,905 -
412,363 624,924

TYSELEY LOCOMOTIVE WORKS
LIMITED (REGISTERED NUMBER: 02253445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The amounts owed to group undertakings bear no interest and have no fixed date for repayment

Included within bank loans is a Bounce Back loan of £10,000 (2023: £10,000). Interest of 2.5% per annum is charged on the loan and the loan term remaining is 3 years.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 4,167 14,167
Deferred grant 298,763 177,000
312,930 201,167

Included within bank loans is a Bounce Back loan of £14,167 (2023: £24,167).Interest of 2.5% per annum is charged on the loan and the loan term remaining is 3 years.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr P Bott FCA (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP Chartered Accountants

9. RELATED PARTY DISCLOSURES

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.

10. ULTIMATE HOLDING COMPANY

The company is a wholly owned subsidiary of Vintage Trains Charitable Trust, a charitable company limited by guarantee and incorporated in England and Wales.

11. PENSION COMMITMENTS

The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the group within independently administered funds. The total contributions paid in the year amounted to £10,647 (2023: £8,444). Contributions of £2,305 (2023: £4,331) were unpaid at the year end.