Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31452022-06-01falseThai food importer and supplier42falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07403598 2022-06-01 2023-05-31 07403598 2021-06-01 2022-05-31 07403598 2023-05-31 07403598 2022-05-31 07403598 2021-06-01 07403598 c:Director1 2022-06-01 2023-05-31 07403598 d:Buildings d:LongLeaseholdAssets 2022-06-01 2023-05-31 07403598 d:Buildings d:LongLeaseholdAssets 2023-05-31 07403598 d:Buildings d:LongLeaseholdAssets 2022-05-31 07403598 d:PlantMachinery 2022-06-01 2023-05-31 07403598 d:PlantMachinery 2023-05-31 07403598 d:PlantMachinery 2022-05-31 07403598 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07403598 d:MotorVehicles 2022-06-01 2023-05-31 07403598 d:MotorVehicles 2023-05-31 07403598 d:MotorVehicles 2022-05-31 07403598 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07403598 d:FurnitureFittings 2022-06-01 2023-05-31 07403598 d:FurnitureFittings 2023-05-31 07403598 d:FurnitureFittings 2022-05-31 07403598 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07403598 d:ComputerEquipment 2022-06-01 2023-05-31 07403598 d:ComputerEquipment 2023-05-31 07403598 d:ComputerEquipment 2022-05-31 07403598 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07403598 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07403598 d:CurrentFinancialInstruments 2023-05-31 07403598 d:CurrentFinancialInstruments 2022-05-31 07403598 d:Non-currentFinancialInstruments 2023-05-31 07403598 d:Non-currentFinancialInstruments 2022-05-31 07403598 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07403598 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 07403598 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07403598 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 07403598 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 07403598 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 07403598 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 07403598 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 07403598 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 07403598 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-05-31 07403598 d:ShareCapital 2022-06-01 2023-05-31 07403598 d:ShareCapital 2023-05-31 07403598 d:ShareCapital 2021-06-01 2022-05-31 07403598 d:ShareCapital 2022-05-31 07403598 d:ShareCapital 2021-06-01 07403598 d:OtherMiscellaneousReserve 2022-06-01 2023-05-31 07403598 d:OtherMiscellaneousReserve 2023-05-31 07403598 d:OtherMiscellaneousReserve 2021-06-01 2022-05-31 07403598 d:OtherMiscellaneousReserve 2022-05-31 07403598 d:OtherMiscellaneousReserve 2021-06-01 07403598 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 07403598 d:RetainedEarningsAccumulatedLosses 2023-05-31 07403598 d:RetainedEarningsAccumulatedLosses 2021-06-01 2022-05-31 07403598 d:RetainedEarningsAccumulatedLosses 2022-05-31 07403598 d:RetainedEarningsAccumulatedLosses 2021-06-01 07403598 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 07403598 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 07403598 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 07403598 d:TaxLossesCarry-forwardsDeferredTax 2022-05-31 07403598 c:FRS102 2022-06-01 2023-05-31 07403598 c:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 07403598 c:FullAccounts 2022-06-01 2023-05-31 07403598 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07403598 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 07403598 d:HirePurchaseContracts d:WithinOneYear 2022-05-31 07403598 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 07403598 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-05-31 07403598 e:PoundSterling 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 07403598









THAI TANA LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
THAI TANA LTD
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THAI TANA LTD
FOR THE YEAR ENDED 31 MAY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of THAI TANA LTD for the year ended 31 May 2023 which comprise  the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

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

We have not been instructed to carry out an audit or review of the financial statements of THAI TANA 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 financial statements.

  



Gilchrists AB LLP
Grove House
2 Woodberry Grove
London
N12 0DR
26 July 2024
Page 1

 
THAI TANA LTD
REGISTERED NUMBER: 07403598

BALANCE SHEET
AS AT 31 MAY 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
289,665
301,880

  
289,665
301,880

Current assets
  

Stocks
 5 
1,024,269
849,101

Debtors
  
1,636,660
1,175,817

Cash at bank and in hand
 6 
35,203
195,197

  
2,696,132
2,220,115

Creditors: amounts falling due within one year
 7 
(3,269,205)
(4,081,300)

Net current liabilities
  
 
 
(573,073)
 
 
(1,861,185)

Total assets less current liabilities
  
(283,408)
(1,559,305)

Creditors: amounts falling due after more than one year
 8 
(1,175,317)
(494,644)

Provisions for liabilities
  

Deferred tax
 11 
-
(52,318)

  
 
 
-
 
 
(52,318)

Net liabilities
  
(1,458,725)
(2,106,267)


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
10,702
10,702

Profit and loss account
  
(1,469,527)
(2,117,069)

  
(1,458,725)
(2,106,267)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject
Page 2

 
THAI TANA LTD
REGISTERED NUMBER: 07403598
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 July 2024.




Tana Wanwatanakul
Director

The notes on pages 5 to 13 form part of these financial statements.
Page 3

 
THAI TANA LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 June 2021
100
10,702
739,893
750,695


Comprehensive income for the year

Loss for the year

-
-
(2,831,962)
(2,831,962)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(2,831,962)
(2,831,962)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(25,000)
(25,000)


Total transactions with owners
-
-
(25,000)
(25,000)



At 1 June 2022
100
10,702
(2,117,069)
(2,106,267)


Comprehensive income for the year

Profit for the year

-
-
647,542
647,542


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
647,542
647,542


Total transactions with owners
-
-
-
-


At 31 May 2023
100
10,702
(1,469,527)
(1,458,725)


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.
However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to the their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 5

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Straight line basis over life of lease
Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 7

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
1
1



Head office
3
-



Office & operations
38
44

42
45

Page 8

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 June 2022
27,754
84,257
203,134
39,070
56,849


Additions
-
5,997
63,900
3,388
1,770



At 31 May 2023

27,754
90,254
267,034
42,458
58,619



Depreciation


At 1 June 2022
1,234
36,868
44,005
9,219
17,858


Charge for the year on owned assets
1,850
12,972
54,426
7,960
10,062



At 31 May 2023

3,084
49,840
98,431
17,179
27,920



Net book value



At 31 May 2023
24,670
40,414
168,603
25,279
30,699



At 31 May 2022
26,521
47,388
159,129
29,851
38,991
Page 9

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 June 2022
411,064


Additions
75,055



At 31 May 2023

486,119



Depreciation


At 1 June 2022
109,184


Charge for the year on owned assets
87,270



At 31 May 2023

196,454



Net book value



At 31 May 2023
289,665



At 31 May 2022
301,880


5.


Stocks

As restated
2023
2022
£
£

Work in progress (goods to be sold)
7,057
-

Finished goods and goods for resale
1,017,212
849,101

1,024,269
849,101


Page 10

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
35,203
195,197

35,203
195,197



7.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Bank loans
122,500
587,621

Trade creditors
2,220,867
3,139,201

Other taxation and social security
232,998
169,895

Obligations under finance lease and hire purchase contracts
46,007
35,362

Other creditors
570,941
137,121

Accruals and deferred income
75,892
12,100

3,269,205
4,081,300



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,053,124
375,621

Net obligations under finance leases and hire purchase contracts
122,193
119,023

1,175,317
494,644


Page 11

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
122,500
587,621


122,500
587,621

Amounts falling due 1-2 years

Bank loans
122,500
122,500


122,500
122,500

Amounts falling due 2-5 years

Bank loans
130,625
253,125


130,625
253,125

Amounts falling due after more than 5 years

Bank loans
800,000
-

800,000
-

1,175,625
963,246



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
46,007
35,362

Between 1-5 years
122,193
119,023

168,200
154,385


11.


Deferred taxation

Page 12

 
THAI TANA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
 
11.Deferred taxation (continued)




2023


£






At beginning of year
(52,318)


Charged to the profit or loss
655,720



At end of year
603,402

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(55,036)
(52,318)

Tax losses carried forward
658,438
-

603,402
(52,318)

 
Page 13