Registered number
11694313
Tallymay Limited
Unaudited Filleted Accounts
30 November 2023
Tallymay Limited
Registered number: 11694313
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 163,478 196,174
Tangible assets 4 9,283 13,924
172,761 210,098
Current assets
Debtors 5 22,964 22,964
Cash at bank and in hand 22,925 283,177
45,889 306,141
Creditors: amounts falling due within one year 6 (213,070) (503,433)
Net current liabilities (167,181) (197,292)
Total assets less current liabilities 5,580 12,806
Creditors: amounts falling due after more than one year 7 (14,342) (23,965)
Net liabilities (8,762) (11,159)
Capital and reserves
Called up share capital 1 1
Profit and loss account (8,763) (11,160)
Shareholder's funds (8,762) (11,159)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr K Y Leong
Director
Approved by the board on 6 August 2024
Tallymay Limited
Notes to the Accounts
for the year ended 30 November 2023
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
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 and subsequently measured at amortised cost determined using the effective interest method, 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 and subsequently measured at amortised cost determined using the effective interest method.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent upon the continued support of other creditors who have indicated that they intend to provide necessary facilities to enable the company to continue to trade for the foreseeable future. If the company were unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long-term liabilities as current assets and liabilities.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Franchise:
Cost
At 1 December 2022 261,565
At 30 November 2023 261,565
Amortisation
At 1 December 2022 65,391
Provided during the year 32,696
At 30 November 2023 98,087
Net book value
At 30 November 2023 163,478
At 30 November 2022 196,174
Franchise is being written off in equal annual instalments over its estimated economic life of 8 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 23,207
At 30 November 2023 23,207
Depreciation
At 1 December 2022 9,283
Charge for the year 4,641
At 30 November 2023 13,924
Net book value
At 30 November 2023 9,283
At 30 November 2022 13,924
5 Debtors 2023 2022
£ £
Other debtors 22,964 22,964
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,658 11,015
Taxation and social security costs 8,661 8,368
Other creditors 193,751 484,050
213,070 503,433
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,342 23,965
8 Related party transactions
The company is under the control of the director, Mr K Y Leong by virtue of his shareholdings in the company.
9 Other information
Tallymay Limited is a private company limited by shares and incorporated in England. Its registered office is:
114 Hamlet Court Road
Westcliff on Sea
Essex
SS0 7LP
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