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Registration number: 13916726

Tamar Leisure Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Tamar Leisure Holdings Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Tamar Leisure Holdings Ltd

Company Information

Directors

Mr I McNulty

Mr T Paige

Company secretary

Mrs A Paige

Registered office

The Warehouse
Marshall Road
Plymouth
Devon
PL7 1YB

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Tamar Leisure Holdings Ltd
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tamar Leisure Holdings Ltd for the year ended 31 October 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Tamar Leisure Holdings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tamar Leisure Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Tamar Leisure Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tamar Leisure Holdings Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tamar Leisure Holdings Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Tamar Leisure Holdings Ltd. You consider that Tamar Leisure Holdings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Tamar Leisure Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

8 February 2024

 

Tamar Leisure Holdings Ltd

(Registration number: 13916726)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,873,456

2,882,610

Investments

5

1,094,825

1,094,825

 

3,968,281

3,977,435

Current assets

 

Debtors

6

-

30

Cash at bank and in hand

 

49,161

17,620

 

49,161

17,650

Creditors: Amounts falling due within one year

7

(749,413)

(999,592)

Net current liabilities

 

(700,252)

(981,942)

Total assets less current liabilities

 

3,268,029

2,995,493

Creditors: Amounts falling due after more than one year

7

(451,404)

(470,778)

Net assets

 

2,816,625

2,524,715

Capital and reserves

 

Called up share capital

134

134

Share premium reserve

879,308

879,308

Retained earnings

1,937,183

1,645,273

Shareholders' funds

 

2,816,625

2,524,715

 

Tamar Leisure Holdings Ltd

(Registration number: 13916726)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 February 2024 and signed on its behalf by:
 

.........................................

Mr T Paige

Director

 

Tamar Leisure Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Warehouse
Marshall Road
Plymouth
Devon
PL7 1YB

These financial statements were authorised for issue by the Board on 5 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

Group accounts have not been prepared as the group is small and is applying small group exemptions under section 399 of the Companies Act 2006. .

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Tamar Leisure Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

15% reducing balance

Freehold, Land and Buildings

No depreciation

Office Equipment

3 years straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Tamar Leisure Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

2,879,386

3,793

2,883,179

Additions

-

2,121

2,121

Disposals

(10,084)

-

(10,084)

At 31 October 2023

2,869,302

5,914

2,875,216

Depreciation

At 1 November 2022

-

569

569

Charge for the year

-

1,191

1,191

At 31 October 2023

-

1,760

1,760

Carrying amount

At 31 October 2023

2,869,302

4,154

2,873,456

At 31 October 2022

2,879,386

3,224

2,882,610

Included within the net book value of land and buildings above is £2,869,302 (2022 - £2,879,386) in respect of freehold land and buildings.
 

 

Tamar Leisure Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,094,825

1,094,825

Subsidiaries

£

Cost or valuation

At 1 November 2022

1,094,825

Provision

At 31 October 2023

-

Carrying amount

At 31 October 2023

1,094,825

At 31 October 2022

1,094,825

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Tamar Towing & Caravans Ltd

The Warehouse, Marshall Road, Plymouth, Devon, PL7 1YB

Ordinary £1

100%

100%

Subsidiary undertakings

Tamar Towing & Caravans Ltd

The principal activity of Tamar Towing & Caravans Ltd is hire of trailers and retail sale of caravans, trailers and related accessories.

 

Tamar Leisure Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Debtors

2023
£

2022
£

Other debtors

-

30

-

30

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

19,374

18,515

Trade creditors

 

1,515

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

534,123

859,077

Taxation and social security

 

40,997

214

Accruals and deferred income

 

1,584

1,440

Other creditors

 

151,820

120,346

 

749,413

999,592

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

271,404

290,778

Other non-current financial liabilities

 

180,000

180,000

The borrowing included in bank loans is secured on property included in freehold property.

 

Tamar Leisure Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

271,404

290,778

2023
£

2022
£

Current loans and borrowings

Bank borrowings

19,374

18,515