Tunnicliffs Stores Limited - Period Ending 2019-09-30

Registration number: 00282878

Tunnicliffs Stores Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2019

Tunnicliffs Stores Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Financial Statements	4 to 7

Tunnicliffs Stores Limited

Company Information

Directors

Mr Anthony Douglas Barnes Mrs Patricia Jean Barnes

Company secretary

Mr Anthony Douglas Barnes

Registered office

110 Sunnyside Newhall Swadlincote Derbyshire DE11 0TN

Accountants

Harrison and Jones Accountancy Limited Chartered Certified Accountants Unit 152 Fauld Industrial Estate Burton-on-Trent DE13 9HS

Page 1

Tunnicliffs Stores Limited

(Registration number: 00282878)
Statement of Financial Position as at 30 September 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	905	1,206
Investment property	5	427,000	427,000
		427,905	428,206
Current assets
Debtors	6	3,012	1,923
Cash at bank and in hand		-	683
		3,012	2,606
Creditors: Amounts falling due within one year	7	(2,271)	(3,259)
Net current assets/(liabilities)		741	(653)
Total assets less current liabilities		428,646	427,553
Provisions for liabilities		(57,667)	(57,667)
Net assets		370,979	369,886
Capital and reserves
Called up share capital	8	5,000	5,000
Profit and loss account		365,979	364,886
Total equity		370,979	369,886

For the financial year ending 30 September 2019 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Tunnicliffs Stores Limited

(Registration number: 00282878)
Statement of Financial Position as at 30 September 2019

Approved and authorised by the Board on 9 June 2020 and signed on its behalf by:
 

.........................................

Mr Anthony Douglas Barnes
Company secretary and director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Tunnicliffs Stores Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
110 Sunnyside
Newhall
Swadlincote
Derbyshire
DE11 0TN

These financial statements were authorised for issue by the Board on 9 June 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the consideration received or receivable under rental agreements and leases. Such rental income is recognised in the period to which the rent received or receivable relates, in accordance with the relevant rental agreement.

Tax

The tax expense for the period comprises current and deferred tax recognised in the reporting period.

The current and deferred income tax charges are calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Page 4

Tunnicliffs Stores Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

Asset class	Depreciation method and rate
Plant and equipment	25% reducing balance
Motor vehicles	25% reducing balance

Investment property

Investment property is measured initially at cost, which includes the purchase price and any directly attributable expenditure. It is then carried at fair value, this being based upon the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2018 - 2).

4	Tangible assets

	Plant and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 October 2018	5,271	1,000	6,271
At 30 September 2019	5,271	1,000	6,271
Depreciation
At 1 October 2018	4,066	999	5,065
Charge for the year	301	-	301
At 30 September 2019	4,367	999	5,366
Carrying amount
At 30 September 2019	904	1	905
At 30 September 2018	1,205	1	1,206

5	Investment properties

	2019 £
At 1 October	427,000

The company's investment properties were revalued on 16 January 2018 by Rushton Hickman Limited. This resulted in a fair value gain of £190,246. The directors have made their own assessment of the properties during the current year and believe that at the balance sheet date, the fair value remained the same.

Page 5

Tunnicliffs Stores Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

6

Debtors

	2019 £	2018 £
Trade debtors	2,700	1,150
Prepayments	312	295
Other debtors	-	478
	3,012	1,923

7

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Bank loans and overdrafts	9	524	-
Trade creditors		-	516
Taxation and social security		640	1,670
Accruals and deferred income		710	690
Other creditors		397	383
		2,271	3,259

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary Shares of £1 each	5,000	5,000	5,000	5,000

9	Loans and borrowings

	2019 £	2018 £
Current loans and borrowings
Bank overdrafts	524	-

10	Related party transactions

Within other creditors is an amount of £397 (2018: £383) due to the directors Mr AD Barnes and Mrs PJ Barnes.

Page 6

Tunnicliffs Stores Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

Directors' remuneration

The directors' remuneration for the year was as follows:

	2019 £	2018 £
Remuneration	20,650	24,600

Page 7