ACCOUNTS - Final Accounts

TONY LARNER LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Registered number: 03207466


TONY LARNER LIMITED REGISTERED NUMBER:03207466

ABRIDGED BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		614,615		625,498
Current assets
Debtors		272,466		249,284
Cash at bank and in hand		105,245		106,107
		377,711		355,391
Creditors: amounts falling due within one year		(73,018)		(66,819)
Net current assets			304,693		288,572
Total assets less current liabilities			919,308		914,070
Provisions for liabilities			(12,748)		(14,128)
Net assets			£906,560		£899,942

Capital and reserves
Called up share capital	200	200
Property revaluation reserve	43,338	42,241
Profit and loss account	863,022	857,501
	£906,560	£899,942

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The members have agreed to the preparation of abridged accounts for the accounting period in accordance with Section 444(2A) of the Companies Act 2006. The abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The abridged financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.

A R Larner FCCA

Director

The notes on pages 3 to 6 form part of these abridged financial statements.

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TONY LARNER LIMITED REGISTERED NUMBER:03207466

ABRIDGED BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

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TONY LARNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Tony Larner Limited is a private company, limited by shares, domiciled in England and Wales, registration number 03207466. The company's registered office is 23 Station Road, Sheringham, Norfolk, NR26 8RF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for services provided. Revenue represents amounts chargeable to clients, including recoverable expenses and disbursements, but excluding Value Added Tax. Unbilled revenue is included in debtors, under "amounts recoverable on contracts".

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation, where applicable, is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives.

Depreciation is provided on the following basis:

Freehold investment properties	-		Not provided
Freehold business premises	-	2%	Straight line
Motor vehicle	-	15%	Reducing balance
Office equipment	-	20%	Reducing balance

A full years depreciation charge is provided in the year of acquisition and none in the year of disposal.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.4

Revaluation of tangible fixed assets

Investment property, which is property held to earn rental income and for capital appreciation is initially recognised at cost and subsequently measured at a fair value, determined by the directors from market based evidence on an existing use basis.
Changes in fair value are recognised in the Statement of Comprehensive Income.

2.5

Debtors

Debtors are measured at transaction price, less any impairment for bad or doubtful debts.

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TONY LARNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from third parties.

2.8

Creditors

Creditors are measured at transaction price.

2.9

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method in order that the amount charged is at a constant rate to the outstanding value of the loan or financed amount.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

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TONY LARNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.13

Current and deferred taxation

The taxation expense for the year comprises current and deferred tax. Taxation is only recognised in the Statement of Comprehensive Income.
The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.
The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.
A deferred taxation charge on unrealised fair value gains on investment property has been charged to the property revaluation reserve.

Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).

4.	Tangible fixed assets

	Freehold Land & Buildings	Freehold Investment Properties	Motor vehicle	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	510,320	240,000	18,000	42,814	811,134
Additions	-	-	-	3,050	3,050
Disposals	-	-	-	(2,590)	(2,590)
At 31 December 2024	510,320	240,000	18,000	43,274	811,594
Depreciation
At 1 January 2024	147,296	-	4,995	33,345	185,636
Charge for the year on owned assets	9,206	-	1,951	2,429	13,586
Disposals	-	-	-	(2,243)	(2,243)
At 31 December 2024	156,502	-	6,946	33,531	196,979
Net book value
At 31 December 2024	£353,818	£240,000	£11,054	£9,743	£614,615
At 31 December 2023	£363,024	£240,000	£13,005	£9,469	£625,498

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TONY LARNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.Tangible fixed assets (continued)

Included in freehold land and buildings is land at cost of £50,000 which is not depreciated.

Cost and valuation at 31 December 2024 is as follows:

			Freehold Investment Properties
			£

		At cost	185,142

		Revaluation amount based on an open market existing use basis	54,858

			240,000

If the freehold investment properties had not been included at valuation they would have been included under the historical cost convention as follows:
	2024	2023
	£	£


	Cost	£185,142	£185,142

5.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £28,728 (2023 - £44,646). There were no contributions outstanding at the balance sheet date.

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