REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
TOMMY'S DARTS LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
TOMMY'S DARTS LIMITED |
TOMMY'S DARTS LIMITED (REGISTERED NUMBER: 13360870) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
TOMMY'S DARTS LIMITED |
Company Information |
for the Year Ended 31 March 2024 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
TOMMY'S DARTS LIMITED (REGISTERED NUMBER: 13360870) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 5 |
Tangible assets | 6 |
Current assets |
Stocks |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Provisions for liabilities |
Net (liabilities)/assets | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
TOMMY'S DARTS LIMITED (REGISTERED NUMBER: 13360870) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | Statutory information |
Tommy's Darts Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
The company incurred a loss in the period ended 31 March 2024 and had net liabilities as at that date. |
The company is dependent on the support of a related party and this company has confirmed that it will continue to support the entity. |
As a result, the directors consider that the company will be able to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements and that they should, therefore, be prepared on a going concern basis. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions on stock. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any critical judgements in applying the company's accounting policies. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will by definition, seldom equal the actual results. |
i) Stock provision |
The stock provision is calculated based on the aged of the stock and the expected selling price required for the goods to sell. The stock provision for the year is £63,746 (2023: £79,916). |
Turnover |
Turnover comprises the fair value of the consideration received or receivable for the sale of darts and related products. Turnover is shown net of sales / value added tax , returns and discounts. The entity 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 group's activities. Turnover is recognised upon dispatch of the goods. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. |
Plant and machinery - 20% straight line and 15% reducing balance. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
TOMMY'S DARTS LIMITED (REGISTERED NUMBER: 13360870) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Share capital |
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
4. | Employees and directors |
The average number of employees during the year was NIL (2023 - |
5. | Intangible fixed assets |
Other |
intangible |
assets |
£ |
Cost |
At 1 April 2023 |
and 31 March 2024 |
Amortisation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
TOMMY'S DARTS LIMITED (REGISTERED NUMBER: 13360870) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 April 2023 |
and 31 March 2024 |
Depreciation |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | Pension commitments |
The defined contribution expense for the year was £nil (2023: £694). |
11. | Related party disclosures |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
TOMMY'S DARTS LIMITED (REGISTERED NUMBER: 13360870) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
12. | Ultimate controlling party |
The ultimate parent undertaking is Key Capital Partners LLP. The smallest group to consolidate these financial statements is Darts Corner Holdings Limited. Consolidated financial statements can be obtained from Harewood House, Union Road, Bolton, England, BL2 2H. |