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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2017 |
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TYNE-WEAR FINANCE LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2017 |
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FOR |
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TYNE-WEAR FINANCE LIMITED |
TYNE-WEAR FINANCE LIMITED (REGISTERED NUMBER: 01396635) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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TYNE-WEAR FINANCE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Fernwood House |
Fernwood Road |
Jesmond |
Newcastle upon Tyne |
NE2 1TJ |
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BANKERS: |
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Black Horse House |
Sandyford Road |
Newcastle upon Tyne |
NE99 1JW |
TYNE-WEAR FINANCE LIMITED (REGISTERED NUMBER: 01396635) |
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BALANCE SHEET |
30 APRIL 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
TYNE-WEAR FINANCE LIMITED (REGISTERED NUMBER: 01396635) |
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BALANCE SHEET - continued |
30 APRIL 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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TYNE-WEAR FINANCE LIMITED (REGISTERED NUMBER: 01396635) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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Tyne-Wear Finance Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents rentals receivable excluding value added tax less that portion of rentals which |
represent a return on capital. |
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Tangible fixed assets |
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Motor vehicles | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
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. |
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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. |
TYNE-WEAR FINANCE LIMITED (REGISTERED NUMBER: 01396635) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Leasing |
Amounts due under finance leases and hire purchase leases are allocated to accounting periods to |
give a constant periodic rate of return on the net investment. Amounts due under operating leases are |
recognised on a straight line basis over the term of the lease. |
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Amounts due from lessees under finance leases and hire purchase leases are included in trade |
debtors at the amount of the net investment after making provision for bad and doubtful debts. |
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3. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
£ |
COST |
At 1 May 2016 |
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Disposals | ( |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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TYNE-WEAR FINANCE LIMITED (REGISTERED NUMBER: 01396635) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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4. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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Related company loan | 460,581 | 196,395 |
Deferred tax asset |
Accelerated capital allowances | 13,519 | 14,630 |
Prepayments |
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Corporation tax recoverable | - | 2,777 |
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Amounts falling due after more than one year: |
Related company loan |
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Aggregate amounts |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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VAT | 3,635 | 4,322 |
Rentals in advance | 1,498 | 1,560 |
Accrued expenses |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase contracts | 34,131 | 47,239 |