Company registration number 14296922 (England and Wales)
TY PARC CONSTRUCTION LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
TY PARC CONSTRUCTION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
TY PARC CONSTRUCTION LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,138
9,200
Current assets
Stocks
43,333
3,500
Debtors
4
9,441
10,291
Cash at bank and in hand
5,818
6,609
58,592
20,400
Creditors: amounts falling due within one year
5
(56,071)
(26,527)
Net current assets/(liabilities)
2,521
(6,127)
Total assets less current liabilities
14,659
3,073
Provisions for liabilities
(847)
-
0
Net assets
13,812
3,073
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
13,811
3,072
Total equity
13,812
3,073

For the financial year ended 31 August 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 27 May 2025
Mr Alex  Williams
Director
Company registration number 14296922 (England and Wales)
TY PARC CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Ty Parc Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Old Hill Crescent, Christchurch, Newport, NP18 1JL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Motor vehicles
20% reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

TY PARC CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and recoverable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
TY PARC CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 September 2023
3,500
8,000
11,500
Additions
727
4,600
5,327
At 31 August 2024
4,227
12,600
16,827
Depreciation and impairment
At 1 September 2023
700
1,600
2,300
Depreciation charged in the year
572
1,817
2,389
At 31 August 2024
1,272
3,417
4,689
Carrying amount
At 31 August 2024
2,955
9,183
12,138
At 31 August 2023
2,800
6,400
9,200
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,441
10,260
Deferred tax asset (note )
-
0
31
9,441
10,291
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
12,723
-
0
Trade creditors
16,008
-
0
Corporation tax
7,819
1,949
Other taxation and social security
8,991
3,875
Other creditors
8,830
18,953
Accruals and deferred income
1,700
1,750
56,071
26,527
TY PARC CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
7
Directors' transactions

Dividends totalling £26,000 (2023 - £5,000) were paid in the year in respect of shares held by the company's directors.

The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding to the director was £292 (2023 - £18,953); this amount being included in creditors: amounts falling due within one year.

2024-08-312023-09-01falsefalsefalse27 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr Alex  Williams2025-05-27142969222023-09-012024-08-31142969222024-08-31142969222023-08-3114296922core:PlantMachinery2024-08-3114296922core:MotorVehicles2024-08-3114296922core:PlantMachinery2023-08-3114296922core:MotorVehicles2023-08-3114296922core:ShareCapital2024-08-3114296922core:ShareCapital2023-08-3114296922core:RetainedEarningsAccumulatedLosses2024-08-3114296922core:RetainedEarningsAccumulatedLosses2023-08-3114296922core:ShareCapitalOrdinaryShareClass12024-08-3114296922core:ShareCapitalOrdinaryShareClass12023-08-3114296922bus:Director12023-09-012024-08-3114296922core:PlantMachinery2023-09-012024-08-3114296922core:MotorVehicles2023-09-012024-08-31142969222022-08-152023-08-3114296922core:PlantMachinery2023-08-3114296922core:MotorVehicles2023-08-31142969222023-08-3114296922core:CurrentFinancialInstruments2024-08-3114296922core:CurrentFinancialInstruments2023-08-3114296922bus:OrdinaryShareClass12023-09-012024-08-3114296922bus:OrdinaryShareClass12024-08-3114296922bus:OrdinaryShareClass12023-08-3114296922bus:PrivateLimitedCompanyLtd2023-09-012024-08-3114296922bus:SmallCompaniesRegimeForAccounts2023-09-012024-08-3114296922bus:FRS1022023-09-012024-08-3114296922bus:AuditExemptWithAccountantsReport2023-09-012024-08-3114296922bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP