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COMPANY REGISTRATION NUMBER: 05766613
TYDWELL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
TYDWELL LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
TYDWELL LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Mr C W Mirza
Mrs S C Mirza
Registered office
22 Uxbridge Road
Ealing
London
W5 2RJ
Accountants
UHY Hacker Young
Chartered Accountants
168 Church Road
Hove
BN3 2DL
TYDWELL LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
25,120
33,108
Current assets
Stocks
137,143
1,810,347
Debtors
6
11,828,090
10,126,450
Cash at bank and in hand
30,504
---------------
---------------
11,995,737
11,936,797
Creditors: amounts falling due within one year
7
10,979,046
10,998,209
---------------
---------------
Net current assets
1,016,691
938,588
-------------
----------
Total assets less current liabilities
1,041,811
971,696
Creditors: amounts falling due after more than one year
8
25,543
30,742
-------------
----------
Net assets
1,016,268
940,954
-------------
----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,016,168
940,854
-------------
----------
Shareholders funds
1,016,268
940,954
-------------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TYDWELL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 28 August 2025 , and are signed on behalf of the board by:
Mr C W Mirza
Director
Company registration number: 05766613
TYDWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Uxbridge Road, Ealing, London, W5 2RJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 5 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
16,582
82,500
15,359
114,441
---------
---------
---------
----------
Depreciation
At 1 May 2023
13,710
55,729
11,894
81,333
Charge for the year
430
6,692
866
7,988
---------
---------
---------
----------
At 30 April 2024
14,140
62,421
12,760
89,321
---------
---------
---------
----------
Carrying amount
At 30 April 2024
2,442
20,079
2,599
25,120
---------
---------
---------
----------
At 30 April 2023
2,872
26,771
3,465
33,108
---------
---------
---------
----------
6. Debtors
2024
2023
£
£
Trade debtors
484,049
89,019
Other debtors
11,344,041
10,037,431
---------------
---------------
11,828,090
10,126,450
---------------
---------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
17,974
Trade creditors
3,487,760
3,182,333
Corporation tax
56,554
31,575
Social security and other taxes
45,197
13,860
Amounts owed to connected companies
6,031,520
5,386,392
Other creditors
1,358,015
2,366,075
---------------
---------------
10,979,046
10,998,209
---------------
---------------
The bank loans and overdrafts are secured by a mortgage debenture.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,543
30,742
---------
---------
9. Contingencies
The directors consider it prudent to disclose a contingent liability of £1.5 million to cover any future claims for replacement cladding work during the warranty period.
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr C W Mirza
( 244,096)
27,433
( 216,663)
----------
---------
----------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr C W Mirza
( 244,096)
( 244,096)
----
----------
----------
11. Related party transactions
The company was under the control of Mr C W Mirza throughout the current and previous year. Mr C W Mirza is the managing director and majority shareholder. All transactions with related parties have been undertaken on an arm's length basis.