Tytherington Investments Limited Accounts

TYTHERINGTON INVESTMENTS LIMITED - Company Information






Tytherington Investments Limited

	Company No. 00661631
		Information for Filing with The Registrar
			Year Ended
		31 March 2020

at	31 March 2020
Company No.		00661631	Notes	2020	2019
				£	£
Fixed assets


	Investment property		4	2,140,001	2,140,001

				2,140,001	2,140,001
Current assets

	Debtors		5	59,332	57,187


				59,332	57,187
Creditors: Amount falling due within one year			6	(45,303)	(39,126)
Net current assets				14,029	18,061
Total assets less current liabilities				2,154,030	2,158,062

Provisions for liabilities
	Deferred taxation		7	-	(6,088)

Net assets				2,154,030	2,151,974

Capital and reserves
	Called up share capital		8	1,000	1,000

	Revaluation reserve		9	2,087,265	2,096,144

	Profit and loss account		9	65,765	54,830

Total equity				2,154,030	2,151,974



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit 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 accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 21 January 2021
And signed on its behalf by:
A.M.E. Scrimgeour
Director
21 January 2021

for the year ended 31 March 2020

General information

Its registered number is: 00661631

Its registered office is:

Office 8, No. 11 Riverside

Riverside Park

Farnham

Surrey

GU9 7UG

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment property is carried at fair value determined annually at the balance sheet date and derived from current market rents and investment property yields for comparable real estate. Any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Provisions

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 profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at 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.

3	Employees
			2020			2019
			Number			Number
		The average monthly number of employees (including directors) during the year was:	2	3	3	2

4	Investment property
			Freehold Investment Property
			£
		Valuation
		At 1 April 2019	2,140,001



		At 31 March 2020	2,140,001

5	Debtors
			2020	2019
			£	£
		Trade debtors	39,497	37,087

		Corporation tax recoverable	9,045	16,241
		Deferred tax asset (see note 7)	2,210	-
		Greenhams Commercial	2,167	-

		Sinking Fund	4,176	1,287
		Prepayments and accrued income	2,237	2,572
			59,332	57,187

6	Creditors:
		amounts falling due within one year
			2020	2019
			£	£










		Accruals and deferred income	45,303	39,126
			45,303	39,126

7	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 April 2019	6,088	6,088
		Charge to the profit and loss account for the period	(8,298)	(8,298)

		At 31 March 2020	(2,210)	(2,210)

		Deferred tax asset (see note 5)

			2020	2019
			£	£


		Revaluation of land and buildings	(2,210)	6,088

			(2,210)	6,088

8	Share Capital
			2020	2019
			£	£
		100 preference shares of £1 each	100	100
		900 ordinary shares of £1 each	900	900
			1,000	1,000

9	Reserves
			Undistributable reserve	Total Undistributable Reserve
			£	£
		At 1 January 2019	2,080,627	2,080,627
		Movement on Undistributable reserve	13,000	13,000
		Deferred taxation	2,517	2,517

		At 31 March 2019 and 1 April 2019	2,096,144	2,096,144
		Movement on revaluation reserve	(8,879)	(8,879)


		At 31 March 2020	2,087,265	2,087,265



		Undistributable reserve - reflects the difference between the fair value of investment property and its historical cost net of deferred tax.
		Profit and loss account - includes all current and prior period retained profits and losses.

Prior year adjustment

An adjustment of £1,912 has been made between undistributable reserves and the profit and loss account reserve for the property revaluation and subsequent deferred tax that was originally posted to the profit and loss account reserve. There has been no change in the overall profit for the year.