Registered number
14823595
Tulipette Limited
Filleted Accounts
30 June 2024
Tulipette Limited
Registered number: 14823595
Balance Sheet
as at 30 June 2024
Notes 2024
£
Fixed assets
Investments 3 3,602,106
Current assets
Debtors 4 168
Cash at bank and in hand 30,348
30,516
Creditors: amounts falling due within one year 5 (13,880)
Net current assets 16,636
Total assets less current liabilities 3,618,742
Creditors: amounts falling due after more than one year 6 (3,238,072)
Provisions for liabilities (150,588)
Net assets 230,082
Capital and reserves
Called up share capital 100
Revaluation reserve 7 180,643
Profit and loss account 49,339
Shareholders' funds 230,082
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J V Scott
Director
Approved by the board on 15 August 2024
Tulipette Limited
Notes to the Accounts
for the period from 24 April 2023 to 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied; the amount of revenue can be measured reliably;it is probable that the Company will receive the consideration due under the contract;the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Investments
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, and is shown as provision for liabilities in the balance sheet.
2 Employees 2024
Number
Average number of persons employed by the company 2
3 Investments
Listed
investments
£
Cost or valuation
Additions 4,415,683
Revaluation 424,700
Disposals (1,238,277)
At 30 June 2024 3,602,106
Historical cost
At 30 June 2024 2,999,753
4 Debtors 2024
£
Other debtors 168
5 Creditors: amounts falling due within one year 2024
£
Taxation and social security costs 11,827
Other creditors 2,053
13,880
6 Creditors: amounts falling due after one year 2024
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest 3,238,072
7 Revaluation reserve 2024
£
Transfer from Profit & Loss Reserve: unrealised revaluations 331,231
Deferred taxation arising (150,588)
At 30 June 2024 180,643
8 Other information
Tulipette Limited is a private company limited by shares and incorporated in England. Its registered office is:
Howden Steading
Newcastle Road
Corbridge
Northumberland
NE45 5LT
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