Tideways (Exmouth) Limited - Filleted accounts

TIDEWAYS (EXMOUTH) LIMITED - Company Information

Registered number

13554697

Tideways (Exmouth) Limited

Unaudited Filleted Accounts

31 August 2022

Tideways (Exmouth) Limited
Registered number:		13554697
Balance Sheet
as at 31 August 2022

Notes			2022
£
Fixed assets
Investments	3		227,913

Current assets
Debtors	4	57

Creditors: amounts falling due within one year	5	(216,839)

Net current liabilities			(216,782)

Net assets			11,131

Capital and reserves
Called up share capital			100
Profit and loss account			11,031

Shareholders' funds			11,131

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Jon Stone
Director
Approved by the board on 24 March 2023

Tideways (Exmouth) Limited
Notes to the Accounts
for the period from 9 August 2021 to 31 August 2022


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.

	Turnover
	The company has no turnover as its income comprises rental income which is shown in other operating income.

	Investment properties
	Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

	Debtors and creditors
	Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2022
Number

	Average number of persons employed by the company	2


3	Investments

Other
investments
£
	Cost/Fair value
	Additions		227,913

	At 31 August 2022		227,913

	Historical cost
	At 31 August 2022		227,913

	Investment properties are included at fair value. Gains would be recognised in the income statement. Deferred taxation would be provided on these gains at the rate expected to apply when the property is sold. As at 31 August 2022 the directors were of the opinion that the value of the property was not significantly different to its cost therefore no adjustment has been made in the financial statements. The methods and significant assumptions used to ascertain the fair value of £227,913 for the period ended 31 August 2022 are as detailed above. The company's investment properties were valued by the company's director, Mr J Stone, on the basis of their fair value for existing use.


4	Debtors	2022
£

	Other debtors	57


5	Creditors: amounts falling due within one year	2022
£

	Taxation and social security costs	2,614
	Other creditors	214,225
		216,839


6	Other information

	Tideways (Exmouth) Limited is a private company limited by shares and incorporated in England. Its registered office is:
	5 Providence Court
	Pynes Hill
	Exeter
	Devon
	EX2 5JL