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Registered number: 09133567
TYNEXE RESIDENTIAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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TYNEXE RESIDENTIAL LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TYNEXE RESIDENTIAL 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 Residential 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 Residential 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 Residential Limited and state those matters that we have agreed to state to the Board of Directors of Tynexe Residential 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 Residential Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Tynexe Residential 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 profit of Tynexe Residential Limited. You consider that Tynexe Residential 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 Residential 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
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TYNEXE RESIDENTIAL LIMITED
REGISTERED NUMBER: 09133567
BALANCE SHEET
AS AT 31 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Page 2
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TYNEXE RESIDENTIAL LIMITED
REGISTERED NUMBER: 09133567
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.
The notes on pages 4 to 7 form part of these financial statements.
Page 3
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TYNEXE RESIDENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Tynexe Residential Limited is a private company limited by shares incorporated in England and Wales (company number: 09133567). The registered office is C/O Democratic Division, Newcastle City Council, Newcastle upon Tyne, NE99 2BN.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The company continues to enjoy the support of its holding company creditor 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.
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:
Turnover is 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.
Page 4
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TYNEXE RESIDENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Construction contracts and work in progress
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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.
Interest income is recognised in profit or loss using the effective interest method.
Stock consists of work in progress only and includes properties prior to sale.
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.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
Page 5
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TYNEXE RESIDENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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.
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Cash and cash equivalents
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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.
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.
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The average monthly number of employees, including directors, during the year was 6 (2024 - 6).
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Prepayments and accrued income
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Cash and cash equivalents
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Page 6
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TYNEXE RESIDENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary A share of £1.00
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Related party transactions
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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.
The company had an interest free balance owed to Tynexe Limited at the year end of £73,746 (2024: £73,746).
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. During the year the company was charged £7,750 in respect of management charges (2024: £nil). At the year end the Company owed Dysart Developments Limited £9,300 (2024: £nil).
R M Short is a director and shareholder in Amethyst Homes Limited. During the year the company charged a management fee in respect of land negotiations of £22,500 (2024: £nil) to Amethyst Homes Limited. At the year end no amounts were due to or from Amethyst Homes Limited.
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Page 7
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