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COMPANY REGISTRATION NUMBER: 13361785
Tanis Developments Limited
Filleted Unaudited Financial Statements
31 December 2023
Tanis Developments Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Tanis Developments Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
8,225
10,967
Current assets
Debtors
6
26,935
25,680
Cash at bank and in hand
6,631
27,868
--------
--------
33,566
53,548
Creditors: amounts falling due within one year
7
14,903
17,003
--------
--------
Net current assets
18,663
36,545
--------
--------
Total assets less current liabilities
26,888
47,512
--------
--------
Net assets
26,888
47,512
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
26,887
47,511
--------
--------
Shareholders funds
26,888
47,512
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tanis Developments Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
Mr N G Marshall
Director
Company registration number: 13361785
Tanis Developments Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 158 Lavenders Road, West Malling, ME19 6HR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 January 2023 and 31 December 2023
11,487
--------
Depreciation
At 1 January 2023
520
Charge for the year
2,742
--------
At 31 December 2023
3,262
--------
Carrying amount
At 31 December 2023
8,225
--------
At 31 December 2022
10,967
--------
6. Debtors
2023
2022
£
£
Other debtors
26,935
25,680
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,350
Corporation tax
10,984
14,615
Other creditors
2,569
2,388
--------
--------
14,903
17,003
--------
--------
8. Director's advances, credits and guarantees
During the year, a director was advanced £47,368 (2022: £101,149) and made repayments of £47,636 (2022: £100,522). Interest of £87 (2022: £555) was charged on the overdrawn balance. At the balance sheet date the company owed the director £469 (2022: £288).
9. Related party transactions
At the year end the company was owed £1,345 (2022: £1,345) by a company associated by common control. At the year end the company was owed £454 (2022: £Nil) by a company associated by common directorship. The company also owed £523 (2022: was owed £977) to a company associated by common directorship.