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Registered number: 08365265
TE-Bar Holdings Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Robert Cole & Co
Chartered Certified Accountants
Office 2 Llynfi Enterprise Centre
Heol Ty Gwyn Industrial Estate
Maesteg
CF34 0BQ
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of TE-Bar Holdings Limited For The Year Ended 30 November 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of TE-Bar Holdings Limited which comprise the Profit and Loss Account, the 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 of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of TE-Bar Holdings Limited , as a body, in accordance with the terms of our engagement letter dated 16 August 2018. Our work has been undertaken solely to prepare for your approval the accounts of TE-Bar Holdings Limited and state those matters that we have agreed to state to the directors of TE-Bar Holdings Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TE-Bar Holdings Limited and its directors as a body for our work or for this report.
It is your duty to ensure that TE-Bar Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of TE-Bar Holdings Limited . You consider that TE-Bar Holdings Limited 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 accounts of TE-Bar Holdings Limited . 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 financial statements.
Signed
19 August 2024
Robert Cole & Co
Chartered Certified Accountants
Office 2 Llynfi Enterprise Centre
Heol Ty Gwyn Industrial Estate
Maesteg
CF34 0BQ
Page 1
Page 2
Balance Sheet
Registered number: 08365265
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1 1
Investments 5 172,600 172,600
172,601 172,601
CURRENT ASSETS
Debtors 6 60,450 54,050
Cash at bank and in hand 8,675 2,706
69,125 56,756
Creditors: Amounts Falling Due Within One Year 7 (155,280 ) (152,400 )
NET CURRENT ASSETS (LIABILITIES) (86,155 ) (95,644 )
TOTAL ASSETS LESS CURRENT LIABILITIES 86,446 76,957
NET ASSETS 86,446 76,957
CAPITAL AND RESERVES
Allotted, called up and fully paid share capital 1,750 1,750
Profit and Loss Account 84,696 75,207
SHAREHOLDERS' FUNDS 86,446 76,957
Page 2
Page 3
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs C A Morgan
Director
19 August 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
TE-Bar Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08365265 . The registered office is Dyffryn Mill Farm, Dyffryn Road, Port Talbot, SA13 2YA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are presented in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Significant judgements and estimations
The significant accounting policies applied in the application of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
No significant judgements have had to be made by the directors in preparing these financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% straight line
2.5. Financial Instruments
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumiliated impairment losses. Listed invetsments are measured at fair value. Unlisted investments are measured at fair value unless the fair value cannot be measured reilably, in which case the are measured at cost less any accumilated impairment losses. Changes in fair value are included in the profit and loss account.
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
...CONTINUED
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2.5. Financial Instruments - continued
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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Consolidation
In the opinion of the directors, the company and its subsidiaries comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2022 50,000
As at 30 November 2023 50,000
...CONTINUED
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Page 6
Depreciation
As at 1 December 2022 49,999
As at 30 November 2023 49,999
Net Book Value
As at 30 November 2023 1
As at 1 December 2022 1
5. Investments
Unlisted
£
Cost
As at 1 December 2022 172,600
As at 30 November 2023 172,600
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 172,600
As at 1 December 2022 172,600
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 31,200 22,800
Amounts owed by subsidiaries 29,250 31,250
60,450 54,050
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 480 -
Other taxes and social security 5,860 4,460
Other creditors 87,940 87,940
Amounts owed to subsidiaries 61,000 60,000
155,280 152,400
Page 6
Page 7
8. Related Party Transactions
The company has taken advantage the exemption from Section 33 of FRS 102 and has not disclosed transactions with its wholly-owned subsidiary companies.
The company has an ongoing loan facility amounting to £87,540 (2022: £87,540) from members of key management personnel. The loan is repayble on demand and the rate of interest charged is 0%. At the balance sheet date, the loan was still outstanding and is presented within Creditors: amounts falling within one year.
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