Company registration number 13726047 (England and Wales)
THE TAP END HOLDINGS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
THE TAP END HOLDINGS LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
THE TAP END HOLDINGS LTD
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
160
160
Current assets
Debtors
5
26,238
21,142
Cash at bank and in hand
692
500
26,930
21,642
Creditors: amounts falling due within one year
6
(4,948)
(600)
Net current assets
21,982
21,042
Net assets
22,142
21,202
Capital and reserves
Called up share capital
7
102
102
Profit and loss reserves
22,040
21,100
Total equity
22,142
21,202
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 7 February 2024 and are signed on its behalf by:
Mrs J L Bullock
Director
Company registration number 13726047 (England and Wales)
THE TAP END HOLDINGS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 5 November 2021
-
Period ended 31 July 2022:
Profit and total comprehensive income
-
73,100
73,100
Issue of share capital
7
102
-
102
Dividends
-
(52,000)
(52,000)
Balance at 31 July 2022
102
21,100
21,202
Year ended 31 July 2023:
Profit and total comprehensive income
-
97,540
97,540
Dividends
-
(96,600)
(96,600)
Balance at 31 July 2023
102
22,040
22,142
THE TAP END HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
The Tap End Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 57 Llantrisant Road, Pontyclun, Rhondda Cynon Taff, CF72 9DP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of 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.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.4
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
THE TAP END HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
160
160
4
Subsidiaries
Details of the company's subsidiaries at 31 July 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
The Tap End Installations Ltd
57 Llantrisant Road, Pontyclun, Rhondda Cynon Taff, CF72 9DP
Ordinary A shares
67.00
33.00
The Tap End Limited
57 Llantrisant Road, Pontyclun, Rhondda Cynon Taff, CF72 9DP
Ordinary
100.00
-
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
26,238
13,205
Other debtors
7,937
26,238
21,142
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
4,238
Accruals and deferred income
710
600
4,948
600
THE TAP END HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
102
102
102
102
8
Directors' transactions
Dividends totalling £96,600 (2022 - £52,000) were paid in the year in respect of shares held by the company's directors.
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Closing balance
£
£
Directors
-
7,937
7,937
7,937
7,937