Teddy Bear Towers Limited - Accounts to registrar (filleted) - small 23.2.5

TEDDY BEAR TOWERS LIMITED

Unaudited Financial Statements

for the Year Ended 31st December 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Miss C A Matthews

G Matthews

SECRETARY:

Miss C A Matthews

REGISTERED OFFICE:

Trelawney Towers

Chester Road

Flint

Flintshire

CH6 5DU

REGISTERED NUMBER:

04608572 (England and Wales)

ACCOUNTANTS:

Haines Watts Wirral Limited

1 Abbots Quay

Monks Ferry

Birkenhead

Merseyside

CH41 5LH

FIXED ASSETS

Tangible assets

4

4,698

6,217

CURRENT ASSETS

Debtors

5

5,809

6,148

Cash at bank and in hand

52,148

59,540

57,957

65,688

CREDITORS

Amounts falling due within one year

6

21,562

19,385

NET CURRENT ASSETS

36,395

46,303

TOTAL ASSETS LESS CURRENT LIABILITIES

41,093

52,520

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

7

41,092

52,519

SHAREHOLDERS' FUNDS

41,093

52,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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 13th May 2024 and were signed on its behalf by:

Miss C A Matthews - Director

1.	STATUTORY INFORMATION

Teddy Bear Towers 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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

The useful lives of property, plant and equipment which are estimated based on the period over which the assets are expected to be available for use. The estimated useful lives are reviewed periodically and are updated if expectations differ from previous estimates due to physical wear and tear, technical or commercial obsolescence and legal or other limits on the use of the relevant assets.

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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Financial instruments

Debtors, creditors, directors loan (being repayable on demand) and inter company loans (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

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 and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1st January 2023

and 31st December 2023

11,054

4,124

18,143

33,321

DEPRECIATION

At 1st January 2023

11,054

3,547

12,503

27,104

Charge for year

-

144

1,375

1,519

At 31st December 2023

11,054

3,691

13,878

28,623

NET BOOK VALUE

At 31st December 2023

-

433

4,265

4,698

At 31st December 2022

-

577

5,640

6,217

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

5,809

6,148

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

516

1,270

Taxation and social security

9,721

7,397

Other creditors

11,325

10,718

21,562

19,385

7.

RESERVES

Retained

earnings

£

At 1st January 2023

52,519

Profit for the year

21,573

Dividends

(33,000

)

At 31st December 2023

41,092

8.	RELATED PARTY DISCLOSURES

The charge for rent included in the accounts comprises of £27,500 (2022- £22,500) paid to Parkspan Holdings (North Western) Limited, a company of which Mr & Mrs Matthews are also directors and shareholders.

Included in Other Debtors is a sum of £5,065 (2022 - £5,065) owed by Parkspan Construction (North Western) Limited

Included in creditors is £3,500 (2022 - £3,500) due to Parkspan Holdings (North Western) Limited.

Also included in creditors is £3,500 (2022 - £3,500) due to Parkspan Construction (North Western) Limited, a company of which Mr & Mrs Matthews are also directors and shareholders.