Tribe (Tynemouth) Limited - Accounts to registrar (filleted) - small 18.2
Tribe (Tynemouth) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| TRIBE (TYNEMOUTH) LIMITED |
| Unaudited Financial Statements For The Year Ended 31 December 2020 |
| TRIBE (TYNEMOUTH) LIMITED (REGISTERED NUMBER: 10517787) |
| Contents of the Financial Statements |
| For The Year Ended 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountants | 7 |
| TRIBE (TYNEMOUTH) LIMITED |
| Company Information |
| For The Year Ended 31 December 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountant |
| 18 Norham Road |
| Whitley Bay |
| Tyne and Wear |
| NE26 2SD |
| TRIBE (TYNEMOUTH) LIMITED (REGISTERED NUMBER: 10517787) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| TRIBE (TYNEMOUTH) LIMITED (REGISTERED NUMBER: 10517787) |
| Balance Sheet - continued |
| 31 December 2020 |
| 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 |
| TRIBE (TYNEMOUTH) LIMITED (REGISTERED NUMBER: 10517787) |
| Notes to the Financial Statements |
| For The Year Ended 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Tribe (Tynemouth) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements |
| There were no judgements made that were significant enough to warrant disclosure. |
| Turnover |
| Turnover represents income from retail and internet sales and excludes VAT as the business is not registered. The revenue is recognised on receipt of payment for retail sales and on despatch for internet sales. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stock consists of items for resale, and are valued at actual cost. Net realisable value exceeds the value of these products. |
| 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. |
| Significant estimates |
| There were no estimates made that were significant enough to warrant disclosure. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| TRIBE (TYNEMOUTH) LIMITED (REGISTERED NUMBER: 10517787) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 December 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2020 |
| Additions |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 January 2020 |
| Charge for year |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| Other debtors relate solely to prepayments. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Included in other creditors are amounts owed to the Directors, this year they were owed £11,647 (£13,612 - 2019). |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,925 | - |
| TRIBE (TYNEMOUTH) LIMITED (REGISTERED NUMBER: 10517787) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 December 2020 |
| 8. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 257 | 269 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2020 |
| Provided during year | ( |
) |
| Balance at 31 December 2020 |
| 9. | RELATED PARTY DISCLOSURES |
| No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities. |
| 10. | GROSS PROFIT |
| The Gross Profit per-centage figure fell dramatically following the Covid 19 shut down, many items were reduced in order to minimise the number of items being held in stock. |
| 11. | SOLVENCY |
| With a cumulative negative figure of £525 (£2,280 - 2019) reported in the profit and loss reserve, the company is technically insolvent. Whilst this is true, the Directors are confident that the future profits earned will eventually return the company to profitability. |
| TRIBE (TYNEMOUTH) LIMITED |
| Report of the Accountants to the Directors of |
| Tribe (Tynemouth) Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2020 set out on pages three to eight and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| Chartered Certified Accountant |
| 18 Norham Road |
| Whitley Bay |
| Tyne and Wear |
| NE26 2SD |