Tim Fry Landrovers Limited - Accounts to registrar (filleted) - small 18.2
Tim Fry Landrovers Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2021 |
| FOR |
| TIM FRY LANDROVERS LIMITED |
| TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TIM FRY LANDROVERS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Hillside |
| Albion Street |
| Chipping Norton |
| Oxfordshire |
| OX7 5BH |
| TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675) |
| BALANCE SHEET |
| 31 JANUARY 2021 |
| 31.1.21 | 31.1.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675) |
| BALANCE SHEET - continued |
| 31 JANUARY 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2021 |
| 1. | STATUTORY INFORMATION |
| Tim Fry Landrovers Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis on the understanding that the director, Mr T Fry, will continue to support the company by not seeking the repayment of the debt due to his soletrader business, or his loan as a director, in preference to other creditors. Mr T Fry will also continue to support the company in order for it to meet its liabilities as they fall due. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Computer equipment | - |
| Stocks |
| Stock of vehicles is valued at the lower of cost and net realisable value. The Glasses Guide bottom trade price is used as the measure for net realisable value. In assessing net realisable value, due consideration is also given to the estimated cost in bringing a vehicle to a saleable condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 February 2020 |
| and 31 January 2021 |
| DEPRECIATION |
| At 1 February 2020 |
| Charge for year |
| At 31 January 2021 |
| NET BOOK VALUE |
| At 31 January 2021 |
| At 31 January 2020 |
| 5. | STOCKS |
| 31.1.21 | 31.1.20 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.21 | 31.1.20 |
| £ | £ |
| Other debtors |
| VAT |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.21 | 31.1.20 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Tim Fry loan | 66,500 | 66,567 |
| Directors' current accounts | 737,080 | 757,580 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.1.21 | 31.1.20 |
| £ | £ |
| Bank loans (see note 9) |
| TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2021 |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.1.21 | 31.1.20 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.1.21 | 31.1.20 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| The bank overdraft and bank loan are secured by way of personal guarantees given by Mr T Fry (Director). |
| The overdraft is secured by a legal charge, dated 15 September 2010 in favour of Lloyds TSB Bank PLC, over all Fixed assets, Properties, and Investments. |
| 11. | PROVISIONS FOR LIABILITIES |
| 31.1.21 | 31.1.20 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 February 2020 |
| Provided during year | ( |
) |
| Balance at 31 January 2021 |
| TIM FRY LANDROVERS LIMITED (REGISTERED NUMBER: 03923675) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2021 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.1.21 | 31.1.20 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 13. | CONTROL RELATIONSHIPS |
| The ultimate controlling party is Mr T Fry by virtue of his shareholding. |