Tyler-James Pet Supplies Ltd Company accounts

Tyler-James Pet Supplies Ltd Company accounts

TYLER-JAMES PET SUPPLIES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 09088766
Tyler-James Pet Supplies Ltd
Unaudited Financial Statements
30 June 2018
Tyler-James Pet Supplies Ltd
Financial Statements
Year ended 30 June 2018
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
Tyler-James Pet Supplies Ltd
Director's Report
Year ended 30 June 2018
The director presents his report and the unaudited financial statements of the company for the year ended 30 June 2018 .
Directors
The directors who served the company during the year were as follows:
Mr J S Mulligan-Atmore
(Appointed 10 April 2018)
Mrs J R Mulligan
(Resigned 10 April 2018)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 29 March 2019 and signed on behalf of the board by:
Mr J S Mulligan-Atmore
Director
Registered office:
7 Moorhead Lane
Shipley
West Yorkshire
BD18 4JH
Tyler-James Pet Supplies Ltd
Statement of Income and Retained Earnings
Year ended 30 June 2018
2018
2017
Note
£
£
Turnover
265,441
253,672
Cost of sales
175,498
168,085
---------
---------
Gross profit
89,943
85,587
Administrative expenses
88,479
80,060
--------
--------
Operating profit
1,464
5,527
Interest payable and similar expenses
682
682
--------
--------
Profit before taxation
5
782
4,845
Tax on profit
–
–
----
-------
Profit for the financial year and total comprehensive income
782
4,845
----
-------
Retained earnings/(losses) at the start of the year
726
( 4,119)
-------
-------
Retained earnings at the end of the year
1,508
726
-------
-------
All the activities of the company are from continuing operations.
Tyler-James Pet Supplies Ltd
Statement of Financial Position
30 June 2018
2018
2017
Note
£
£
£
Fixed assets
Tangible assets
6
9,823
11,556
Current assets
Stocks
18,500
10,630
Debtors
7
8,391
3,555
Cash at bank and in hand
5,734
3,821
--------
--------
32,625
18,006
Creditors: amounts falling due within one year
8
36,493
21,862
--------
--------
Net current liabilities
3,868
3,856
-------
--------
Total assets less current liabilities
5,955
7,700
Creditors: amounts falling due after more than one year
9
4,347
6,874
-------
-------
Net assets
1,608
826
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,508
726
-------
----
Shareholders funds
1,608
826
-------
----
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tyler-James Pet Supplies Ltd
Statement of Financial Position (continued)
30 June 2018
These financial statements were approved by the board of directors and authorised for issue on 29 March 2019 , and are signed on behalf of the board by:
Mr J S Mulligan-Atmore
Director
Company registration number: 09088766
Tyler-James Pet Supplies Ltd
Notes to the Financial Statements
Year ended 30 June 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Moorhead Lane, Shipley, West Yorkshire, BD18 4JH.
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.
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:
Plant and machinery
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Equipment
-
15% reducing balance
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2017: 3 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2018
2017
£
£
Depreciation of tangible assets
1,733
2,039
-------
-------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2017 and 30 June 2018
4,000
14,460
304
18,764
-------
--------
----
--------
Depreciation
At 1 July 2017
1,544
5,580
84
7,208
Charge for the year
368
1,332
33
1,733
-------
--------
----
--------
At 30 June 2018
1,912
6,912
117
8,941
-------
--------
----
--------
Carrying amount
At 30 June 2018
2,088
7,548
187
9,823
-------
--------
----
--------
At 30 June 2017
2,456
8,880
220
11,556
-------
--------
----
--------
7. Debtors
2018
2017
£
£
Trade debtors
4,176
–
Other debtors
4,215
3,555
-------
-------
8,391
3,555
-------
-------
8. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
18,333
16,408
Social security and other taxes
9,131
2,928
Pension Creditor
172
–
Other creditors
8,857
2,526
--------
--------
36,493
21,862
--------
--------
9. Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
4,347
6,874
-------
-------
10. Related party transactions
The company was under the control of Mr Mulligan-Atmore throughout the current year. Mr Mulligan-Atmore is the majority shareholder.