Tim Wale Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03811002 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

TIM WALE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T G Wale

SECRETARY:

Mrs C Wale

REGISTERED OFFICE:

Travellers Rest Farm

Hungerford Lane

Bradfield Southend

Reading

Berks

RG7 6JH

REGISTERED NUMBER:

03811002 (England and Wales)

ACCOUNTANTS:

C B Heslop And Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Tangible assets

4

2,831

2,912

CURRENT ASSETS

Debtors

5

5,872

2,551

Cash at bank and in hand

50

846

5,922

3,397

CREDITORS

Amounts falling due within one year

6

17,830

13,310

NET CURRENT LIABILITIES

(11,908

)

(9,913

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,077

)

(7,001

)

CREDITORS

Amounts falling due after more than one year

7

(12,500

)

(209

)

PROVISIONS FOR LIABILITIES

(481

)

(484

)

NET LIABILITIES

(22,058

)

(7,694

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(22,060

)

(7,696

)

(22,058

)

(7,694

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 November 2021 and were signed by:

T G Wale - Director

1.	STATUTORY INFORMATION

Tim Wale 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 May 2020

and 30 April 2021

3,139

13,176

2,145

DEPRECIATION

At 1 May 2020

3,139

10,591

1,937

Charge for year

-

20

31

At 30 April 2021

3,139

10,611

1,968

NET BOOK VALUE

At 30 April 2021

-

2,565

177

At 30 April 2020

-

2,585

208

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2020

and 30 April 2021

3,400

2,541

24,401

DEPRECIATION

At 1 May 2020

3,281

2,541

21,489

Charge for year

30

-

81

At 30 April 2021

3,311

2,541

21,570

NET BOOK VALUE

At 30 April 2021

89

-

2,831

At 30 April 2020

119

-

2,912

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Amounts owed by group undertakings

3,406

-

Other debtors

2,466

2,551

5,872

2,551

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

8,572

2,392

Trade creditors

84

72

Amounts owed to group undertakings

-

2,534

Taxation and social security

373

361

Other creditors

8,801

7,951

17,830

13,310

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

12,500

209

8.	CONTINGENT LIABILITIES

There were no contingent liabilities at the balance sheet date or at 30 April 2020.

9.	RELATED PARTY DISCLOSURES

At the balance sheet date an amount of (£3,405) (2020 : £2,534) was due to (from) Tutts Clump Cider Limited, a related party controlled by the director Tim Wale.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is T G Wale.

11.	BALANCE SHEET POSITION

The Company's liabilities exceed its assets by £22,058. The amount due to T Wale, a director, at the balance Sheet date was £8,341.

This being the case, the director is confident that the company can meet all of its financial obligations into the foreseeable future.