H.G.Tincknell Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00582839 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

H.G.TINCKNELL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T G Tincknell

Mrs J M Tincknell

S T W Tincknell

H G D Tincknell

SECRETARY:

Mrs J M Tincknell

REGISTERED OFFICE:

Mitchells Chartered Accountants

St. John's House

Taunton

Somerset

TA1 4AY

REGISTERED NUMBER:

00582839 (England and Wales)

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

BANKERS:

National Westminster Bank Plc

9 York Buildings

Cornhill

Bridgwater

Somerset

TA8 1PA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,856,159

1,818,839

Investments

6

64,503

58,387

1,920,662

1,877,226

CURRENT ASSETS

Stocks

270,717

230,635

Debtors

7

80,163

78,184

350,880

308,819

CREDITORS

Amounts falling due within one year

8

1,451,392

967,427

NET CURRENT LIABILITIES

(1,100,512

)

(658,608

)

TOTAL ASSETS LESS CURRENT LIABILITIES

820,150

1,218,618

CREDITORS

Amounts falling due after more than one year

9

(61,422

)

(465,421

)

PROVISIONS FOR LIABILITIES

(84,215

)

(71,482

)

NET ASSETS

674,513

681,715

CAPITAL AND RESERVES

Called up share capital

704

704

Share premium

650

650

Retained earnings

673,159

680,361

SHAREHOLDERS' FUNDS

674,513

681,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 June 2021 and were signed on its behalf by:

T G Tincknell - Director

Mrs J M Tincknell - Director

1.	STATUTORY INFORMATION

H.G.Tincknell Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Basic Payment entitlements are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

For livestock raised by the company, the following amounts are used as an estimate of cost:

Cattle - 60% of the market value at the balance sheet date

Sheep - 75% of the market value at the balance sheet date

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 or deferred taxation assets and liabilities are not discounted.

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.

Hire purchase agreements

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Fixed asset investments

Fixed asset investments are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 October 2019

and 30 September 2020

16,572

AMORTISATION

At 1 October 2019

and 30 September 2020

16,572

NET BOOK VALUE

At 30 September 2020

-

At 30 September 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2019

1,378,264

921,008

2,299,272

Additions

-

204,979

204,979

Disposals

(30,000

)

(87,879

)

(117,879

)

At 30 September 2020

1,348,264

1,038,108

2,386,372

DEPRECIATION

At 1 October 2019

-

480,433

480,433

Charge for year

-

93,454

93,454

Eliminated on disposal

-

(43,674

)

(43,674

)

At 30 September 2020

-

530,213

530,213

NET BOOK VALUE

At 30 September 2020

1,348,264

507,895

1,856,159

At 30 September 2019

1,378,264

440,575

1,818,839

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2019

127,650

Additions

61,250

Disposals

(59,250

)

At 30 September 2020

129,650

DEPRECIATION

At 1 October 2019

64,179

Charge for year

24,931

Eliminated on disposal

(34,254

)

At 30 September 2020

54,856

NET BOOK VALUE

At 30 September 2020

74,794

At 30 September 2019

63,471

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2019

58,387

Additions

6,116

At 30 September 2020

64,503

NET BOOK VALUE

At 30 September 2020

64,503

At 30 September 2019

58,387

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

56,001

63,002

Other debtors

24,162

15,182

80,163

78,184

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans and overdrafts

487,678

74,067

Hire purchase contracts

20,870

20,301

Trade creditors

54,333

118,404

Taxation and social security

4,759

9,625

Other creditors

883,752

745,030

1,451,392

967,427

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Hire purchase contracts

38,064

31,955

Other creditors

23,358

433,466

61,422

465,421

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.20

30.9.19

£

£

Bank overdrafts

487,678

74,067

Other loans

23,358

433,466

511,036

507,533

All amounts owed to National Westminster Bank Plc being the bank loan and overdraft are secured by fixed charges over freehold property and floating charges over all plant and machinery, goodwill and licences.

11.	RELATED PARTY DISCLOSURES

During the year the company was controlled by Mr.T.G.Tincknell and his wife Mrs.J.M.Tincknell who are directors and between them own the entire issued ordinary share capital.

The company rents land from the directors and the amounts paid were as follows:

Mr T G Tincknell £790 (Prior Year: £790)

Mrs J M Tincknell £75 (Prior Year: £75)