Tasman Limited 01453273 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of property investment Digita Accounts Production Advanced 6.30.9574.0 true true 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 2023-03-31 01453273 core:Non-currentFinancialInstruments 2023-03-31 01453273 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 01453273 core:FurnitureFittingsToolsEquipment 2023-03-31 01453273 core:LandBuildings 2023-03-31 01453273 bus:SmallEntities 2022-04-01 2023-03-31 01453273 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 01453273 bus:FullAccounts 2022-04-01 2023-03-31 01453273 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01453273 bus:RegisteredOffice 2022-04-01 2023-03-31 01453273 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 01453273 bus:Director2 2022-04-01 2023-03-31 01453273 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01453273 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 01453273 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01453273 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 01453273 core:LandBuildings 2022-04-01 2023-03-31 01453273 countries:UnitedKingdom 2022-04-01 2023-03-31 01453273 2022-03-31 01453273 core:FurnitureFittingsToolsEquipment 2022-03-31 01453273 core:LandBuildings 2022-03-31 01453273 2021-04-01 2022-03-31 01453273 2022-03-31 01453273 bus:OrdinaryShareClass1 2022-03-31 01453273 bus:OrdinaryShareClass2 2022-03-31 01453273 core:CurrentFinancialInstruments 2022-03-31 01453273 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 01453273 core:Non-currentFinancialInstruments 2022-03-31 01453273 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 01453273 core:FurnitureFittingsToolsEquipment 2022-03-31 01453273 core:LandBuildings 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01453273

Tasman Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

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 2023

Note

2023
£

2022
£

fixed assets

 

tangible assets

4

9,689,269

9,690,905

Current assets

 

Debtors

5

-

20,431

Cash at bank and in hand

 

143,984

451,819

 

143,984

472,250

Creditors: Amounts falling due within one year

6

(223,788)

(235,414)

Net current (liabilities)/assets

 

(79,804)

236,836

Total assets less current liabilities

 

9,609,465

9,927,741

Creditors: Amounts falling due after more than one year

6

(172,587)

(239,453)

Net assets

 

9,436,878

9,688,288

capital and reserves

 

Called up share capital

7

200

200

Revaluation reserve

9,371,653

9,371,653

Profit and loss account

65,025

316,435

Shareholders' funds

 

9,436,878

9,688,288

For the financial year ending 31 March 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.

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 2023

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 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 2023

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 2023

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 (2022 - 1).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

9,680,000

134,286

9,814,286

At 31 March 2023

9,680,000

134,286

9,814,286

Depreciation

At 1 April 2022

-

123,381

123,381

Charge for the year

-

1,636

1,636

At 31 March 2023

-

125,017

125,017

Carrying amount

At 31 March 2023

9,680,000

9,269

9,689,269

At 31 March 2022

9,680,000

10,905

9,690,905

Included within the net book value of land and buildings above is £9,680,000 (2022 - £9,680,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Other debtors

-

20,431

 

Tasman Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

55,800

55,800

Taxation and social security

 

208

3,071

Other creditors

 

88,975

95,953

Directors' loan accounts

 

78,805

80,590

 

223,788

235,414

Due after one year

 

Loans and borrowings

8

172,587

239,453

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

172,587

239,453

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

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

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

172,587

239,453

 

Tasman Limited

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

2023
£

2022
£

Current loans and borrowings

Bank borrowings

55,800

55,800

9

Dividends