REGISTERED NUMBER: |
Tuber Group Limited |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
REGISTERED NUMBER: |
Tuber Group Limited |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
Tuber Group Limited (Registered number: 13201384) |
Contents of the Financial Statements |
for the year ended 31st March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Tuber Group Limited |
Company Information |
for the year ended 31st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Tuber Group Limited (Registered number: 13201384) |
Balance Sheet |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Tuber Group Limited (Registered number: 13201384) |
Notes to the Financial Statements |
for the year ended 31st March 2024 |
1. | STATUTORY INFORMATION |
Tuber Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Tuber Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Investments in subsidiaries are initially recognised at cost. |
The directors assess the valuation of the investments at the year end and values are impaired when they are not considered realisable. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Going concern |
The company's only sources of income are dividends from subsidiary companies. |
As a result of its subsidiary company MyFresh Prepared Produce Limited going into administration on 15 May 2023, the company is insolvent at 31st March 2024. |
In order to continue as a going concern, the company is dependent on the support of external creditors. The directors are not aware that this support will be withdrawn and are working with creditors as evidenced by note 8 to these accounts. On that basis, the directors consider that the remaining investments in subsidiary companies have value and no impairment is necessary. |
Tuber Group Limited (Registered number: 13201384) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other creditors | - | 1,466,388 |
8. | POST BALANCE SHEET EVENTS |
On 19 July 2024 the company came to an agreement with its principle creditor which has resulted in the write down of the £1,086,388 debt outstanding at the year end to £600,000. Of the remaining balance £54,000 is due within one year. The debt waiver will be reflected in the accounts to 31 March 2025 and improve the net liabilities by £486,388. |