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REGISTERED NUMBER: 04134512 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2023

for

TASSPARK LIMITED

TASSPARK LIMITED (REGISTERED NUMBER: 04134512)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TASSPARK LIMITED

Company Information
for the Year Ended 31st March 2023







DIRECTORS: M A Livesey
Mrs Y Ogden





SECRETARY: M A Livesey





REGISTERED OFFICE: 85 Todd Lane North
Lostock Hall
Preston
PR5 5UR





REGISTERED NUMBER: 04134512 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

TASSPARK LIMITED (REGISTERED NUMBER: 04134512)

Balance Sheet
31st March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,603,526 1,558,526

CURRENT ASSETS
Debtors 5 2,217 31,116
Cash at bank 3,903 33,079
6,120 64,195
CREDITORS
Amounts falling due within one year 6 100,058 107,949
NET CURRENT LIABILITIES (93,938 ) (43,754 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,509,588

1,514,772

CREDITORS
Amounts falling due after more than one
year

7

(585,142

)

(652,727

)

PROVISIONS FOR LIABILITIES (25,580 ) (25,580 )
NET ASSETS 898,866 836,465

CAPITAL AND RESERVES
Called up share capital 9 100 100
Non-distributable reserves 258,459 249,544
Retained earnings 640,307 586,821
SHAREHOLDERS' FUNDS 898,866 836,465

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

TASSPARK LIMITED (REGISTERED NUMBER: 04134512)

Balance Sheet - continued
31st March 2023


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 12th November 2023 and were signed on its behalf by:





M A Livesey - Director


TASSPARK LIMITED (REGISTERED NUMBER: 04134512)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Tasspark 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 as modified by the revaluation of certain assets.

Revenue recognition
Turnover represents net rents receivable.

Investment property
Investment properties are held to earn rentals. They are initially measured at cost, including transaction costs. Subsequently they are measured at fair value and are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair values are included in the Statement of Income in the period in which they arise.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

TASSPARK LIMITED (REGISTERED NUMBER: 04134512)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 1,558,526
Additions 36,085
Revaluations 8,915
At 31st March 2023 1,603,526
NET BOOK VALUE
At 31st March 2023 1,603,526
At 31st March 2022 1,558,526

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2015 255,307
Valuation in 2017 18,719
Valuation in 2018 1,098
Valuation in 2023 8,915
Cost 1,319,487
1,603,526

No significant change in the valuation of the properties has occurred in the year ended 31st March 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 1,859 30,192
Prepayments and accrued income 358 924
2,217 31,116

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 14,120 17,439
Trade creditors 4,758 2,764
Tax 14,991 18,451
Social security and other taxes 2,141 -
Other creditors 7,549 7,731
Amounts due to assoc co 25,073 25,073
Directors' current accounts 20,000 20,000
Accrued expenses 11,426 16,491
100,058 107,949

TASSPARK LIMITED (REGISTERED NUMBER: 04134512)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years - 9,620
Bounce back loan 1-2 years 5,000 5,000
Bounce back loan 2-5 years 7,419 11,800
Directors loan accounts 501,447 511,307
Amounts due to assoc co 71,276 115,000
585,142 652,727

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 26,539 43,859

The loans are secured by way of legal charges over the company's Investment Properties.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

At the 31st March 2023, the company owed £521,447 to its directors (2022: £531,307). No interest has been charged to the company in respect of these loans and there is no formal repayment date for these loans. £501,447 (2022: £511,307) of the loans are classified in creditors due after more than one year.

At the 31st March 2023, the company owed £5,073 (2022: £5,073) to Cartmell and Barlow Limited, a company under the control of Mr M A Livesey (a director). No interest has been charged to the company in respect of this amount.

At the 31st March 2023, the company owed £91,276 (2022: £135,000) to B Livesey Limited, a company under the control of Mr M A Livesey (a director). Interest is charged at 2% above base rate.

11. ULTIMATE CONTROLLING PARTY

The controlling party is M A Livesey.