Tasman Limited 01453273 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property investment Digita Accounts Production Advanced 6.30.9574.0 true true 01453273 2023-04-01 2024-03-31 01453273 2024-03-31 01453273 bus:OrdinaryShareClass1 2024-03-31 01453273 bus:OrdinaryShareClass2 2024-03-31 01453273 core:CurrentFinancialInstruments 2024-03-31 01453273 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01453273 core:Non-currentFinancialInstruments 2024-03-31 01453273 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 01453273 core:FurnitureFittingsToolsEquipment 2024-03-31 01453273 core:LandBuildings 2024-03-31 01453273 bus:SmallEntities 2023-04-01 2024-03-31 01453273 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01453273 bus:FilletedAccounts 2023-04-01 2024-03-31 01453273 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01453273 bus:RegisteredOffice 2023-04-01 2024-03-31 01453273 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 01453273 bus:Director2 2023-04-01 2024-03-31 01453273 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 01453273 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 01453273 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01453273 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 01453273 countries:UnitedKingdom 2023-04-01 2024-03-31 01453273 2023-03-31 01453273 core:FurnitureFittingsToolsEquipment 2023-03-31 01453273 core:LandBuildings 2023-03-31 01453273 2022-04-01 2023-03-31 01453273 2023-03-31 01453273 bus:OrdinaryShareClass1 2023-03-31 01453273 bus:OrdinaryShareClass2 2023-03-31 01453273 core:CurrentFinancialInstruments 2023-03-31 01453273 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-03-31 01453273 core:Non-currentFinancialInstruments 2023-03-31 01453273 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 01453273 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2023-03-31 01453273 core:FurnitureFittingsToolsEquipment 2023-03-31 01453273 core:LandBuildings 2023-03-31 01453273 core:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01453273

Tasman Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Tasman Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Tasman Limited

Company Information

Directors

Mrs Esther Yellon

Mr D Yellon

Company secretary

Mrs Esther Yellon

Registered office

127 Harley Street
London
W1G 6AZ

Accountants

Paul Winston Limited
Chartered Accountants
Silver Rose, Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

Tasman Limited

(Registration number: 01453273)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

fixed assets

 

tangible assets

4

9,689,269

9,689,269

Current assets

 

Cash at bank and in hand

 

239,676

143,984

Creditors: Amounts falling due within one year

6

(525,153)

(223,788)

Net current liabilities

 

(285,477)

(79,804)

Total assets less current liabilities

 

9,403,792

9,609,465

Creditors: Amounts falling due after more than one year

6

(102,023)

(172,587)

Net assets

 

9,301,769

9,436,878

capital and reserves

 

Called up share capital

7

200

200

Revaluation reserve

9,371,653

9,371,653

Profit and loss account

(70,084)

65,025

Shareholders' funds

 

9,301,769

9,436,878

For the financial year ending 31 March 2024 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. 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 August 2024 and signed on its behalf by:
 

.........................................
Mrs Esther Yellon
Company secretary and director

 

Tasman Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
127 Harley Street
London
W1G 6AZ

These financial statements were authorised for issue by the Board on 1 August 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Tasman Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

25% net book value

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Tasman Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

9,680,000

134,286

9,814,286

At 31 March 2024

9,680,000

134,286

9,814,286

Depreciation

At 1 April 2023

-

125,017

125,017

At 31 March 2024

-

125,017

125,017

Carrying amount

At 31 March 2024

9,680,000

9,269

9,689,269

At 31 March 2023

9,680,000

9,269

9,689,269

Included within the net book value of land and buildings above is £9,680,000 (2023 - £9,680,000) in respect of freehold land and buildings.
 

 

Tasman Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

55,800

55,800

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

190,423

-

Taxation and social security

 

7,904

208

Other creditors

 

165,861

88,975

Directors' loan accounts

 

105,165

78,805

 

525,153

223,788

Due after one year

 

Loans and borrowings

8

102,023

172,587

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

102,023

172,587

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

Ordinary 'A' Shares of £1 each

100

100

100

100

200

200

200

200

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

102,023

172,587

 

Tasman Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

55,800

55,800

9

Dividends