Company Registration No. SC078161 (Scotland)
Tarrant Woodley Limited
Unaudited accounts
for the year ended 31 March 2023
Tarrant Woodley Limited
Unaudited accounts
Contents
Tarrant Woodley Limited
Company Information
for the year ended 31 March 2023
Directors
Robert Walter Handley
Sandra Simpson Handley
Secretary
Robert Walter Handley
Company Number
SC078161 (Scotland)
Registered Office
6a Eton Terrace
Edinburgh
EH4 1QE
Scotland
Accountants
Allsquare (Edinburgh) Ltd
Federation House
222-224 Queensferry Road
Edinburgh
EH4 2BN
Tarrant Woodley Limited
Statement of financial position
as at 31 March 2023
Tangible assets
2,695
2,954
Investment property
274,330
339,330
Cash at bank and in hand
504,303
533,871
Creditors: amounts falling due within one year
(166,998)
(117,508)
Net current assets
362,535
457,774
Total assets less current liabilities
639,560
800,058
Provisions for liabilities
Net assets
639,048
799,497
Called up share capital
30,000
30,000
Profit and loss account
609,048
769,497
Shareholders' funds
639,048
799,497
For the year ending 31 March 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 6 February 2024 and were signed on its behalf by
Robert Walter Handley
Director
Company Registration No. SC078161
Tarrant Woodley Limited
Notes to the Accounts
for the year ended 31 March 2023
Tarrant Woodley Limited is a private company, limited by shares, registered in Scotland, registration number SC078161. The registered office is 6a Eton Terrace, Edinburgh, EH4 1QE, Scotland.
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.
Turnover represents rents receivable exclusive of value added tax.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
20% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The investment properties are not depreciated which is in accordance with the Financial Reporting Standard 102. Compliance with the FRS is a departure from the Companies Act 2006 necessary to give a true and fair view.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tarrant Woodley Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
3,245
4,800
8,045
At 31 March 2023
4,517
4,800
9,317
At 1 April 2022
1,251
3,840
5,091
Charge for the year
571
960
1,531
At 31 March 2023
1,822
4,800
6,622
At 31 March 2023
2,695
-
2,695
At 31 March 2022
1,994
960
2,954
Fair value at 1 April 2022
339,330
Investment properties were valued on an open market basis on 31 March 2023 by the directors.
Amounts falling due within one year
Accrued income and prepayments
540
1,390
Other debtors
15,485
15,709
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
6,686
1,228
Taxes and social security
(1,572)
1,064
Other creditors
3,631
6,264
Loans from directors
146,454
95,750
Tarrant Woodley Limited
Notes to the Accounts
for the year ended 31 March 2023
Allotted, called up and fully paid:
30,000 Ordinary shares of £1 each
30,000
30,000
9
Transactions with related parties
Included in 'Loans from directors' is an amount of £146,454 (2022: £95,750) due from the company to the directors, Robert Walter Handley and Sandra Simpson Handley. The loan is interest free and has no fixed terms for repayment.
Included in 'Other debtors' is an amount of £316 (2022: £316) due to the company from former shareholders, James Ligertwood and Mary Ligertwood. The loan is interest free and has no fixed terms for repayment.
Included in 'Other debtors' is an amount of £15,169 (2022: £15,393) due to the company from Kinloch Holdings Limited to the company. Robert Walter Handley and Sandra Simpson Handley are directors and shareholders of Kinloch Holdings Limited. The loan is interest free and has no fixed terms for repayment.
The company is under the control of the director, Robert Walter Handley, by virtue of a controlling interest (directly or indirectly) of the company's issued share capital.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).