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Registration number: 12943485

Searchtank Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Searchtank Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Searchtank Holdings Ltd

Company Information

Directors

Miss D Goodwin

Mr P J Golding

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Searchtank Holdings Ltd

(Registration number: 12943485)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

3

125

125

Current assets

 

Debtors

4

7,676

42,967

Cash at bank and in hand

 

58

20

 

7,734

42,987

Creditors: Amounts falling due within one year

5

(7,801)

(1,350)

Net current (liabilities)/assets

 

(67)

41,637

Net assets

 

58

41,762

Capital and reserves

 

Called up share capital

6

2

1

Retained earnings

56

41,761

Shareholders' funds

 

58

41,762

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.

 

Searchtank Holdings Ltd

(Registration number: 12943485)
Balance Sheet as at 31 October 2023

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 July 2024 and signed on its behalf by:
 

.........................................
Miss D Goodwin
Director

 

Searchtank Holdings Ltd

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

1

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.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Searchtank Holdings Ltd

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

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

3

Investments

2023
£

2022
£

Investments in subsidiaries

125

125

 

Searchtank Holdings Ltd

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

Subsidiaries

£

Cost or valuation

At 1 November 2022

125

Provision

Carrying amount

At 31 October 2023

125

At 31 October 2022

125

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

Searchtank Associates Ltd

Unit 1 Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Ordinary shares

85%

85%

Contract Management Partners Ltd

Unit 1 Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Ordinary shares

40%

40%

Subsidiary undertakings

Searchtank Associates Ltd

The principal activity of Searchtank Associates Ltd is that of an employment agency.

Contract Management Partners Ltd

The principal activity of Contract Management Partners Ltd is that of management consultancy.

 

Searchtank Holdings Ltd

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

4

Debtors

2023
£

2022
£

Other debtors

7,676

42,967

7,676

42,967

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

840

400

Other creditors

6,961

950

7,801

1,350

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

1

1

1

1

Ordinary B shares of £1 (2022 - £0) each

1

1

-

-

 

2

2

1

1

 

Searchtank Holdings Ltd

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

7

Related party transactions

Loans to related parties

2023

Subsidiary
£

Total
£

At start of period

42,967

42,967

Advanced

15,491

15,491

Repaid

(50,782)

(50,782)

At end of period

7,676

7,676

2022

Subsidiary
£

Total
£

Advanced

51,761

51,761

Repaid

(8,794)

(8,794)

At end of period

42,967

42,967

Loans from related parties

2023

Key management
£

Total
£

At start of period

950

950

Advanced

14,190

14,190

Repaid

(8,179)

(8,179)

At end of period

6,961

6,961

2022

Key management
£

Total
£

At start of period

1,039

1,039

Advanced

8,405

8,405

Repaid

(8,494)

(8,494)

At end of period

950

950