Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 2024-04-01 6 true false commercial property development 6 true false The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10103589 2024-04-01 2025-03-31 10103589 2023-04-01 2024-03-31 10103589 2025-03-31 10103589 2024-03-31 10103589 c:Director1 2024-04-01 2025-03-31 10103589 c:Director3 2024-04-01 2025-03-31 10103589 c:Director4 2024-04-01 2025-03-31 10103589 c:Director5 2024-04-01 2025-03-31 10103589 c:Director5 2025-03-31 10103589 c:Director6 2024-04-01 2025-03-31 10103589 c:Director6 2025-03-31 10103589 c:Director8 2024-04-01 2025-03-31 10103589 c:Director9 2024-04-01 2025-03-31 10103589 c:RegisteredOffice 2024-04-01 2025-03-31 10103589 d:CurrentFinancialInstruments 2025-03-31 10103589 d:CurrentFinancialInstruments 2024-03-31 10103589 d:Non-currentFinancialInstruments 2025-03-31 10103589 d:Non-currentFinancialInstruments 2024-03-31 10103589 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 10103589 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10103589 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 10103589 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10103589 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-03-31 10103589 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 10103589 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-03-31 10103589 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10103589 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2025-03-31 10103589 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 10103589 d:ShareCapital 2025-03-31 10103589 d:ShareCapital 2024-03-31 10103589 d:RetainedEarningsAccumulatedLosses 2025-03-31 10103589 d:RetainedEarningsAccumulatedLosses 2024-03-31 10103589 c:OrdinaryShareClass1 2024-04-01 2025-03-31 10103589 c:OrdinaryShareClass1 2025-03-31 10103589 c:OrdinaryShareClass1 2024-03-31 10103589 c:FRS102 2024-04-01 2025-03-31 10103589 c:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 10103589 c:FullAccounts 2024-04-01 2025-03-31 10103589 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10103589 d:WithinOneYear 2025-03-31 10103589 d:WithinOneYear 2024-03-31 10103589 d:BetweenOneFiveYears 2025-03-31 10103589 d:BetweenOneFiveYears 2024-03-31 10103589 d:MoreThanFiveYears 2025-03-31 10103589 d:MoreThanFiveYears 2024-03-31 10103589 2 2024-04-01 2025-03-31 10103589 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10103589 TYNEXE COMMERCIAL LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
TYNEXE COMMERCIAL LIMITED COMPANY INFORMATION
Directors | R A J Ashby
| M Clark
| D M Greenhough (appointed 6 November 2024, resigned 4 September 2025)
| P Frew
| A G Hay (resigned 2 October 2024)
| R M Short
| G M Stone (As alternate for R A J Ashby)
Registered number | 10103589
Registered office | C/O Democratic Services Division
| Newcastle City Council
| Newcastle upon Tyne
| NE99 2BN
Accountants | Kinnair Associates Limited
| Chartered Accountants
| Aston House
| Redburn Road
| Newcastle upon Tyne
| NE5 1NB
TYNEXE COMMERCIAL LIMITED CONTENTS
| Page
Accountants' Report | 1
Balance Sheet | 2 - 3
Notes to the Financial Statements | 4 - 10
TYNEXE COMMERCIAL LIMITED CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TYNEXE COMMERCIAL LIMITED FOR THE YEAR ENDED 31 MARCH 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tynexe Commercial Limited for the year ended 31 March 2025 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the Board of Directors of Tynexe Commercial Limited, as a body, in accordance with the terms of our engagement letter dated 30 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Tynexe Commercial Limited and state those matters that we have agreed to state to the Board of Directors of Tynexe Commercial Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tynexe Commercial Limited and its Board of Directors, as a body, for our work or for this report. It is your duty to ensure that Tynexe Commercial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Tynexe Commercial Limited. You consider that Tynexe Commercial Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of Tynexe Commercial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB 20 October 2025 Page 1
TYNEXE COMMERCIAL LIMITED REGISTERED NUMBER: 10103589 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks | 4 | 4,622,728 |  | 4,572,095 |
Debtors: amounts falling due within one year | 5 | 13,840 |  | 33,914 |
Cash at bank and in hand | 6 | 26,781 |  | 14,040 |
|  | 4,663,349 |  | 4,620,049 |
Creditors: amounts falling due within one year | 7 | (802,342) |  | (450,968) |
Net current assets |  |  | 3,861,007 |  | 4,169,081
Total assets less current liabilities |  |  | 3,861,007 |  | 4,169,081
Creditors: amounts falling due after more than one year | 8 |  | (5,315,741) |  | (5,445,869)
Net liabilities |  |  | (1,454,734) |  | (1,276,788)
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 1 |  | 1
Profit and loss account |  |  | (1,454,735) |  | (1,276,789)
|  |  | (1,454,734) |  | (1,276,788)
Page 2
TYNEXE COMMERCIAL LIMITED REGISTERED NUMBER: 10103589 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The 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 financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 October 2025.
P Frew
Director
The notes on pages 4 to 10 form part of these financial statements. Page 3
TYNEXE COMMERCIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Tynexe Commercial Limited is a private company limited by shares incorporated in England and Wales (company number: 10103589). The registered office is C/O Democratic Services Division, Newcastle City Council, Newcastle upon Tyne, NE99 2BN. 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 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The company continues to enjoy the support of its holding company who have provided guarantees for two loans (see notes seven to nine for more details) and anticipates the continuation of this support in the future. Hence, despite the insolvent balance sheet the directors have relied upon the continuation of the holding company's financial support for the foreseeable future and on that basis they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
| 2.4 | Turnover
Property development sales are recognised at the fair value of the consideration received or receivable for properties sold in the normal course of business, and is shown net of VAT and any other sales related taxes. Turnover from the sale of properties is recognised when the significant risks and rewards of ownership of the properties have transferred to the buyer. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs.sup Ground rent from development properties leased out under operating leases is recognised as revenue on a straight line basis over the lease term. Page 4
TYNEXE COMMERCIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Construction contracts and work in progress
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable. When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately. Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period. The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.9 | 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.
| 2.10 | 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. Page 5
TYNEXE COMMERCIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.11 | Creditors
Short-term 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
| The average monthly number of employees, including directors, during the year was 6 (2024 - 6).
4. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Work in progress (buildings under construction) | 4,622,728 | 4,572,095
|  | 4,622,728 | 4,572,095
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 9,515 | 27,163
| Other debtors | 4,190 | 6,349
| Prepayments and accrued income | 135 | 402
|  | 13,840 | 33,914
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 26,781 | 14,040
|  | 26,781 | 14,040
Page 6
TYNEXE COMMERCIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 130,128 | 128,047
| Trade creditors | 18,859 | 42,137
| Amounts owed to group undertakings | 500,000 | 140,000
| Other creditors | 19,875 | 7,875
| Accruals and deferred income | 133,480 | 132,909
|  | 802,342 | 450,968
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 130,128 | 128,047
|  | 130,128 | 128,047
| Details of security provided:
One loan with £57,000 due within one year (2024: £57,000) is secured on property known as Armstrong Business Park held by the company's holding company, Tynexe Limited. The second loan is secured on the company's buildings under construction. Page 7
TYNEXE COMMERCIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 5,315,741 | 5,445,869
|  | 5,315,741 | 5,445,869
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 5,315,741 | 5,445,869
|  | 5,315,741 | 5,445,869
| Details of security provided:
One loan with £1,596,000 due after more than one year (2024: £1,653,000) is secured on property known as Armstrong Business Park held by the company's holding company, Tynexe Limited. The second loan is secured on the company's buildings under construction.
| The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Repayable by instalments | 4,773,163 | 4,912,246
|  | 4,773,163 | 4,912,246
The loans carry interest charges of 3.34% and 2.93% and are repayable in instalments over 35 years. Page 8
TYNEXE COMMERCIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Other loans | 130,128 | 128,047
|  | 130,128 | 128,047
| Amounts falling due 1-2 years |  |
| Other loans | 132,272 | 130,128
|  | 132,272 | 130,128
| Amounts falling due 2-5 years |  |
| Other loans | 410,307 | 403,495
|  | 410,307 | 403,495
| Amounts falling due after more than 5 years |  |
| Other loans | 4,773,162 | 4,912,246
|  | 4,773,162 | 4,912,246
|  | 5,445,869 | 5,573,916
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Ordinary share of £1.00 | 1 | 1
Page 9
TYNEXE COMMERCIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Commitments under operating leases
| At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 1,234 | 1,234
| Later than 1 year and not later than 5 years | 1,234 | 1,234
| Later than 5 years | 1,234 | 1,234
|  | 3,702 | 3,702
12. | Related party transactions
| The Company is a subsidiary undertaking of Tynexe Limited which in turn is a subsidiary undertaking of The Armstrong Centre Company Limited, registered in England and Wales, whose controlling shareholder is Newcastle City Council who own 50 Ordinary A shares of Tynexe Limited. The registered office of The Armstrong Centre Company Limited is c/o Democratic Services Division, Newcastle City Council, Newcastle upon Tyne, NE99 2BN. As explained in notes seven to nine the Company benefits from a guarantee provided by Tynexe Limited to secure a loan provided by Newcastle City Council for which £1,653,000 (2024: £1,710,000) remained outstanding at the year end. A second loan has also been provided by Newcastle City Council for which £3,792,869 (2024: £3,863,916) remained outstanding at the year end. Interest was incurred on the two loans, payable to Newcastle City Council, of £168,967 (2024: £173,581) of which £47,287 (2024: £48,647) was accrued at the year end. Dysart Management Limited owns 100% of Dysart Developments Limited which owns 100% of Dysart Developments North East Limited which in turn owns 50 Ordinary B shares of Tynexe Limited. Consequently all are related parties. At the year end the Company owed Dysart Developments Limited £nil (2024: £nil) and there were no charges made to or from the company during the year.
Page 10