Registered number
02003068
Tanist Limited
Unaudited Filleted Accounts
31 December 2021
Tanist Limited
Registered number: 02003068
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 8,333 -
Tangible assets 4 34,012 41,424
42,345 41,424
Current assets
Stocks 18,000 1,500
Debtors 5 79,436 82,694
Cash at bank and in hand 50,292 106,793
147,728 190,987
Creditors: amounts falling due within one year 6 (117,422) (166,591)
Net current assets 30,306 24,396
Total assets less current liabilities 72,651 65,820
Creditors: amounts falling due after more than one year 7 (38,147) (48,663)
Net assets 34,504 17,157
Capital and reserves
Called up share capital 790 790
Profit and loss account 33,714 16,367
Shareholders' funds 34,504 17,157
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.
J C Holman
Director
Approved by the board on 5 September 2022
Tanist Limited
Notes to the Accounts
for the year ended 31 December 2021
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% on the reducing balance
Fixtures, fittings, tools and equipment 25% on the reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 13 10
3 Intangible fixed assets £
Goodwill:
Cost
Additions 10,416
At 31 December 2021 10,416
Amortisation
Provided during the year 2,083
At 31 December 2021 2,083
Net book value
At 31 December 2021 8,333
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2021 37,241 26,978 30,362 94,581
Additions - 2,041 - 2,041
At 31 December 2021 37,241 29,019 30,362 96,622
Depreciation
At 1 January 2021 19,943 20,165 13,049 53,157
Charge for the year 2,905 2,219 4,329 9,453
At 31 December 2021 22,848 22,384 17,378 62,610
Net book value
At 31 December 2021 14,393 6,635 12,984 34,012
At 31 December 2020 17,298 6,813 17,313 41,424
5 Debtors 2021 2020
£ £
Trade debtors 63,184 73,591
Other debtors 16,252 9,103
79,436 82,694
6 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 8,333 8,333
Obligations under finance lease and hire purchase contracts 4,586 4,586
Trade creditors 76,433 86,293
Taxation and social security costs 18,616 38,201
Other creditors 9,454 29,178
117,422 166,591
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 35,737 41,667
Obligations under finance lease and hire purchase contracts 2,410 6,996
38,147 48,663
8 Other information
Tanist Limited is a private company limited by shares and incorporated in England. Its registered office is:
Penbury
Pendrift, Blisland
Bodmin
Cornwall
PL30 4JT
Tanist Limited 02003068 false 2021-01-01 2021-12-31 2021-12-31 VT Final Accounts April 2022 J C Holman No description of principal activity 02003068 2020-01-01 2020-12-31 02003068 core:WithinOneYear 2020-12-31 02003068 core:AfterOneYear 2020-12-31 02003068 core:ShareCapital 2020-12-31 02003068 core:RetainedEarningsAccumulatedLosses 2020-12-31 02003068 2021-01-01 2021-12-31 02003068 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 02003068 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 02003068 bus:Director40 2021-01-01 2021-12-31 02003068 1 2021-01-01 2021-12-31 02003068 2 2021-01-01 2021-12-31 02003068 core:Goodwill 2021-01-01 2021-12-31 02003068 core:LandBuildings 2021-01-01 2021-12-31 02003068 core:PlantMachinery 2021-01-01 2021-12-31 02003068 core:Vehicles 2021-01-01 2021-12-31 02003068 countries:England 2021-01-01 2021-12-31 02003068 bus:FRS102 2021-01-01 2021-12-31 02003068 bus:FullAccounts 2021-01-01 2021-12-31 02003068 2021-12-31 02003068 core:WithinOneYear 2021-12-31 02003068 core:AfterOneYear 2021-12-31 02003068 core:ShareCapital 2021-12-31 02003068 core:RetainedEarningsAccumulatedLosses 2021-12-31 02003068 core:Goodwill 2021-12-31 02003068 core:LandBuildings 2021-12-31 02003068 core:PlantMachinery 2021-12-31 02003068 core:Vehicles 2021-12-31 02003068 2020-12-31 02003068 core:LandBuildings 2020-12-31 02003068 core:PlantMachinery 2020-12-31 02003068 core:Vehicles 2020-12-31 iso4217:GBP xbrli:pure