Tunnicliffs Stores Limited - Period Ending 2021-09-30

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 Partners Limited Chartered Certified Accountants Masonic Building 9 Mill Street Sutton Coldfield West Midlands B72 1TJ

Tunnicliffs Stores Limited

(Registration number: 00282878)
Statement of Financial Position as at 30 September 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	510	679
Investment property	5	427,000	427,000
		427,510	427,679
Current assets
Debtors	6	1,238	1,250
Cash at bank and in hand		533	1,083
		1,771	2,333
Creditors: Amounts falling due within one year	7	(3,872)	(4,813)
Net current liabilities		(2,101)	(2,480)
Total assets less current liabilities		425,409	425,199
Provisions for liabilities		(57,667)	(57,667)
Net assets		367,742	367,532
Capital and reserves
Called up share capital	8	5,000	5,000
Profit and loss account		362,742	362,532
Shareholders' funds		367,742	367,532

 

 

Tunnicliffs Stores Limited

(Registration number: 00282878)
Statement of Financial Position as at 30 September 2021

For the financial year ending 30 September 2021 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.




 

Approved and authorised by the Board on 31 May 2022 and signed on its behalf by:
 

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

Mr Anthony Douglas Barnes
Company secretary and director

Tunnicliffs Stores Limited

Notes to the Financial Statements for the Year Ended 30 September 2021

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 31 May 2022.

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.

Tunnicliffs Stores Limited

Notes to the Financial Statements for the Year Ended 30 September 2021

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:

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 (2020 - 2).

Tunnicliffs Stores Limited

Notes to the Financial Statements for the Year Ended 30 September 2021

4	Tangible assets

	Plant and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 October 2020	5,271	1,000	6,271
At 30 September 2021	5,271	1,000	6,271
Depreciation
At 1 October 2020	4,593	999	5,592
Charge for the year	169	-	169
At 30 September 2021	4,762	999	5,761
Carrying amount
At 30 September 2021	509	1	510
At 30 September 2020	678	1	679

5	Investment properties

	2021 £
At 1 October	427,000
At 30 September	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.

6

Debtors

	2021 £	2020 £
Trade debtors	900	900
Prepayments	338	350
	1,238	1,250

Tunnicliffs Stores Limited

Notes to the Financial Statements for the Year Ended 30 September 2021

7

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	-	1,850
Taxation and social security	640	640
Accruals and deferred income	1,097	1,097
Other creditors	2,135	1,226
	3,872	4,813

8	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary Shares of £1 each	5,000	5,000	5,000	5,000

9	Related party transactions

Within other creditors is an amount of £2,135 (2020: £1,226) due to the directors Mr AD Barnes and Mrs PJ Barnes.

Directors' remuneration

The directors' remuneration for the year was as follows:

	2021 £	2020 £
Remuneration	19,200	20,800