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Registered number: 08641684
Tavershams Limited
Financial Statements
For The Year Ended 31 August 2023
Hill Wooldridge Accountants Ltd
Chartered Certified Accountants
55 Crown Street
Brentwood
Essex
CM14 4BD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08641684
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,220 3,780
3,220 3,780
CURRENT ASSETS
Debtors 5 18,532 35,097
Cash at bank and in hand 47,085 2,788
65,617 37,885
Creditors: Amounts Falling Due Within One Year 6 (46,216 ) (16,167 )
NET CURRENT ASSETS (LIABILITIES) 19,401 21,718
TOTAL ASSETS LESS CURRENT LIABILITIES 22,621 25,498
Creditors: Amounts Falling Due After More Than One Year 7 (13,125 ) (20,625 )
NET ASSETS 9,496 4,873
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 9,396 4,773
SHAREHOLDERS' FUNDS 9,496 4,873
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For the year ending 31 August 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.
The financial statements were approved by the board of directors on 29 August 2024 and were signed on its behalf by:
Mr Alexander Nelson-Roberts
Director
29th August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Tavershams Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08641684 . The registered office is 55 Crown Street, Brentwood, Essex, CM14 4BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
Sale of goods
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.
Rendering of services
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.
2.3. 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 20% of cost per year
Computer Equipment 10%-33% of cost per year
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
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.

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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 1,565 4,842 6,407
Additions - 724 724
As at 31 August 2023 1,565 5,566 7,131
Depreciation
As at 1 September 2022 626 2,001 2,627
Provided during the period 313 971 1,284
As at 31 August 2023 939 2,972 3,911
Net Book Value
As at 31 August 2023 626 2,594 3,220
As at 1 September 2022 939 2,841 3,780
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,449 239
Prepayments and accrued income 139 2,701
Auction funds receivable 1,944 1,243
...CONTINUED
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Other loans receivable 4,000 -
VAT - 914
Amounts owed by associates 11,000 30,000
18,532 35,097
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 20,917 2,061
Bank loans and overdrafts 7,500 7,500
Corporation tax 1,042 -
Other taxes and social security - 121
VAT 4,383 -
Credit card 5,461 632
Accruals and deferred income 913 853
Amounts owed to associates 6,000 5,000
46,216 16,167
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 13,125 20,625
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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