Registered number
09782454
Tay House Ltd
Filleted Accounts
28 February 2023
Tay House Ltd
Registered number: 09782454
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 356,653 356,653
Current assets
Cash at bank and in hand 800 21
Creditors: amounts falling due within one year 4 (7,298) (5,798)
Net current liabilities (6,498) (5,777)
Total assets less current liabilities 350,155 350,876
Creditors: amounts falling due after more than one year 5 (388,659) (394,312)
Net liabilities (38,504) (43,436)
Capital and reserves
Called up share capital 1 1
Profit and loss account (38,505) (43,437)
Shareholder's funds (38,504) (43,436)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Rene Lans
Director
Approved by the board on 29 November 2023
Tay House Ltd
Notes to the Accounts
for the year ended 28 February 2023
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).
The company is dependent on the continuing support of its parent company, London Private Wealth Ltd. London Private Wealth Ltd has indicated to continue to provide this support for a period of at least one year from the date of signing these accounts.
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 rendering of services. 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.
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 Nil
Fixtures, fittings, tools and equipment over 4 years
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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2022 356,653 60,345 416,998
At 28 February 2023 356,653 60,345 416,998
Depreciation
At 1 March 2022 - 60,345 60,345
At 28 February 2023 - 60,345 60,345
Net book value
At 28 February 2023 356,653 - 356,653
At 28 February 2022 356,653 - 356,653
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 600 600
Taxation and social security costs 3,697 3,697
Other creditors 3,001 1,501
7,298 5,798
5 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 388,659 394,312
6 Controlling party
The company is a wholly owned subsidiary of London Private Wealth Ltd, a company registered in England, registered office Tay House, 23 Enterprise Way, London, SW18 1FZ.
7 Other information
Tay House Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tay House
23 Enterprise Way
London
SW18 1FZ
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