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Registration number: 06879768

Tallulah and Hope Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Tallulah and Hope Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Tallulah and Hope Limited

Company Information

Directors

L Ispani

Z Holborough

Registered office

The Coach House
Kenython Lane
St Just
Penzance
TR19 7PT

 

Tallulah and Hope Limited

(Registration number: 06879768)
Balance Sheet as at 31 March 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

6,336

7,102

Current assets

 

Stocks

5

48,150

62,480

Debtors

6

25,754

7,767

Cash at bank and in hand

 

15,168

30,312

 

89,072

100,559

Creditors: Amounts falling due within one year

7

(335,544)

(259,128)

Net current liabilities

 

(246,472)

(158,569)

Net liabilities

 

(240,136)

(151,467)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(240,236)

(151,567)

Shareholders' deficit

 

(240,136)

(151,467)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 September 2024 and signed on its behalf by:
 

.........................................
L Ispani
Director

 

Tallulah and Hope Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Coach House
Kenython Lane
St Just
Penzance
TR19 7PT

These financial statements were authorised for issue by the Board on 4 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements are prepared in accordance with the historical cost convention and on a going concern basis on the grounds that continued financial support will be made available by the director.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
ind it is probable that future economic benefits will flow to the entity.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Tallulah and Hope Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 1).

 

Tallulah and Hope Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

22,047

22,047

Additions

1,346

1,346

At 31 March 2024

23,393

23,393

Depreciation

At 1 April 2023

14,945

14,945

Charge for the year

2,112

2,112

At 31 March 2024

17,057

17,057

Carrying amount

At 31 March 2024

6,336

6,336

At 31 March 2023

7,102

7,102

5

Stocks

2024
£

(As restated)

2023
£

Finished goods and goods for resale

48,150

62,480

6

Debtors

Current

2024
£

2023
£

Trade debtors

14,497

6,389

Prepayments

877

878

Other debtors

10,380

500

 

25,754

7,767

 

Tallulah and Hope Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

18,514

12,735

Trade creditors

 

17,984

22,176

Taxation and social security

 

33,690

14,697

Accruals and deferred income

 

700

700

Other creditors

 

264,656

208,820

 

335,544

259,128

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

18,514

12,735