REGISTERED NUMBER: |
Tiptoe Retreat Ltd |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
REGISTERED NUMBER: |
Tiptoe Retreat Ltd |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
Tiptoe Retreat Ltd (Registered number: 13907298) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Tiptoe Retreat Ltd |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
trading as The Hutchinson Partnership |
Chartered Accountants |
The Bull Pen |
Grove Farm |
Portway, Burghill |
Hereford |
HR4 8NF |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Tiptoe Retreat Ltd (Registered number: 13907298) |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tiptoe Retreat Ltd for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Tiptoe Retreat Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tiptoe Retreat Ltd and state those matters that we have agreed to state to the Board of Directors of Tiptoe Retreat Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tiptoe Retreat Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Tiptoe Retreat Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Tiptoe Retreat Ltd. You consider that Tiptoe Retreat Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Tiptoe Retreat Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
trading as The Hutchinson Partnership |
Chartered Accountants |
The Bull Pen |
Grove Farm |
Portway, Burghill |
Hereford |
HR4 8NF |
Tiptoe Retreat Ltd (Registered number: 13907298) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
Tiptoe Retreat Ltd (Registered number: 13907298) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Tiptoe Retreat Ltd (Registered number: 13907298) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Tiptoe Retreat Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors are aware that the company has net liabilities as these are the early years of activity and no income has yet been generated. The company relies on the support of its lenders including the directors' related businesses which have agreed that they will not withdraw their loans to the detriment of other creditors. |
The directors have reviewed forecasts exceeding 12 months from the date of signing these accounts and are confident that the business will trade profitably in future. They have therefore confirmed that the going concern basis is appropriate. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
3. | EMPLOYEES |
The average number of employees during the year was NIL (2023 - NIL). |
Tiptoe Retreat Ltd (Registered number: 13907298) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Prepayments | 84,166 | 26,117 |
Other debtors |
VAT |
Deferred tax asset |
Called up share capital not paid |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans |
Trade creditors |
Accruals and deferred income |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans more than 5 yrs - |
no instalments | 86,000 | - |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more than 5 yrs - |
no instalments |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured against land and property at Tiptoe Estate, owned by two of the directors in their farming partnership. |
Tiptoe Retreat Ltd (Registered number: 13907298) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | DEFERRED TAX |
£ |
Balance at 1 April 2023 | ( |
) |
Provided during year | ( |
) |
Balance at 31 March 2024 | ( |
) |
9. | CAPITAL COMMITMENTS |
2024 | 2023 |
£ | £ |
Contracted but not provided for in the |
financial statements |
10. | RELATED PARTY DISCLOSURES |
The company has received a loan from a company of which two of the directors are also directors and shareholders. The loan is interest free and unsecured with no repayment terms agreed. This business has a loan balance of £30,000 (2023 - £30,000) outstanding at the end of the period. |
The company has received a loan from a partnership of which two of the directors are also partners. The loan was interest free and unsecured with no repayment terms agreed. This business has a loan balance of £nil (2023 - £500) outstanding at the end of the period. |
These loan balances are disclosed as other loans in the accounts. |