Company Registration No. 01513737 (England and Wales)
TAPSONS LIMITED
Unaudited accounts
for the year ended 31 August 2023
TAPSONS LIMITED
Statement of financial position
as at 31 August 2023
Tangible assets
42,831
45,298
Investment property
2,200,000
2,200,000
Cash at bank and in hand
303,504
272,982
Creditors: amounts falling due within one year
(54,895)
(57,999)
Net current assets
284,130
250,478
Total assets less current liabilities
2,526,961
2,495,776
Provisions for liabilities
Deferred tax
(232,300)
(176,500)
Net assets
2,294,661
2,319,276
Called up share capital
4,000
4,000
Profit and loss account
2,290,661
2,315,276
Shareholders' funds
2,294,661
2,319,276
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by
J O TAPPER
Director
Company Registration No. 01513737
TAPSONS LIMITED
Notes to the Accounts
for the year ended 31 August 2023
TAPSONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01513737.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% (other than investment property which is revalued annually)
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
TAPSONS LIMITED
Notes to the Accounts
for the year ended 31 August 2023
4
Tangible fixed assets
Land & buildings
At 1 September 2022
123,971
At 1 September 2022
78,673
Fair value at 1 September 2022
2,200,000
At 31 August 2023
2,200,000
Investment property is valued annually by local estate agents
Amounts falling due within one year
Trade debtors
35,521
35,495
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
38,437
44,463
Taxes and social security
15,391
12,905
Allotted, called up and fully paid:
4,000 Ordinary shares of £1 each
4,000
4,000
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).