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REGISTERED NUMBER: 11569230 (England and Wales)















Unaudited Financial Statements

for the Period 1 October 2022 to 31 March 2024

for

Tapas Bank Ltd

Tapas Bank Ltd (Registered number: 11569230)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tapas Bank Ltd

Company Information
for the Period 1 October 2022 to 31 March 2024







DIRECTORS: Mr S Pickering
Miss C E Pickering
Miss L A Pickering





REGISTERED OFFICE: 72 High Street
Porthmadog
Gwynedd
LL49 9NW





REGISTERED NUMBER: 11569230 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Tapas Bank Ltd (Registered number: 11569230)

Balance Sheet
31 March 2024

31.3.24 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,628 144,499

CURRENT ASSETS
Stocks - 850
Debtors 5 1,108 1,187
Cash at bank 774 22,084
1,882 24,121
CREDITORS
Amounts falling due within one year 6 98,292 80,126
NET CURRENT LIABILITIES (96,410 ) (56,005 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,218

88,494

CREDITORS
Amounts falling due after more than one
year

7

(29,725

)

(37,998

)

PROVISIONS FOR LIABILITIES (9,605 ) (11,286 )
NET (LIABILITIES)/ASSETS (4,112 ) 39,210

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (4,113 ) 39,209
(4,112 ) 39,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Tapas Bank Ltd (Registered number: 11569230)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





Mr S Pickering - Director


Tapas Bank Ltd (Registered number: 11569230)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

Tapas Bank Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the assumption that the company is able to carry on its business as a going concern. The director considers this basis appropriate as he will continue to give financial support to the company for at least twelve months from the date of signing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvement to property- 2% Straight line.
Plant & machinery - 20% reducing balance
Fixtures & Fittings- 20% reducing balance
Computer equipment - 20% reducing balance

Fixed assets are stated at their cost prices less accumulated depreciation and less any amounts recognised in respect of impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Tapas Bank Ltd (Registered number: 11569230)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 16 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 115,856 75,770 191,626
Additions - 1,355 1,355
At 31 March 2024 115,856 77,125 192,981
DEPRECIATION
At 1 October 2022 8,395 38,732 47,127
Charge for period 3,476 10,750 14,226
At 31 March 2024 11,871 49,482 61,353
NET BOOK VALUE
At 31 March 2024 103,985 27,643 131,628
At 30 September 2022 107,461 37,038 144,499

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.9.22
£    £   
Other debtors 1,108 1,187

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.9.22
£    £   
Trade creditors 1,132 15,710
Taxation and social security 1,100 7,336
Other creditors 96,060 57,080
98,292 80,126

Tapas Bank Ltd (Registered number: 11569230)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 30.9.22
£    £   
Other creditors 29,725 37,998

8. SECURED DEBTS

The following charges have been registered on the company's record on Companies House:

1. 8th March 2019- National Westminster Bank PLC- Contains fixed & floating charges.
Floating charge covers all the property or undertaking of the company.
Contains negative pledge

9. RELATED PARTY DISCLOSURES

The director's current account remained in credit throughout the period and at the period end had a balance of £88,432 owing to the director (2022 - £50,096)