Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Mr C M Bach 22/06/2017 Mr C V A Bailey 22/06/2017 Mr P S Prockter 22/06/2017 06 September 2024 no description of principal activity 10831258 2023-09-30 10831258 bus:Director1 2023-09-30 10831258 bus:Director2 2023-09-30 10831258 bus:Director3 2023-09-30 10831258 2022-09-30 10831258 core:CurrentFinancialInstruments 2023-09-30 10831258 core:CurrentFinancialInstruments 2022-09-30 10831258 core:Non-currentFinancialInstruments 2023-09-30 10831258 core:Non-currentFinancialInstruments 2022-09-30 10831258 core:ShareCapital 2023-09-30 10831258 core:ShareCapital 2022-09-30 10831258 core:RetainedEarningsAccumulatedLosses 2023-09-30 10831258 core:RetainedEarningsAccumulatedLosses 2022-09-30 10831258 2022-10-01 2023-09-30 10831258 bus:FilletedAccounts 2022-10-01 2023-09-30 10831258 bus:SmallEntities 2022-10-01 2023-09-30 10831258 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 10831258 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 10831258 bus:Director1 2022-10-01 2023-09-30 10831258 bus:Director2 2022-10-01 2023-09-30 10831258 bus:Director3 2022-10-01 2023-09-30 10831258 2021-10-01 2022-09-30 10831258 core:Non-currentFinancialInstruments 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: 10831258 (England and Wales)

TANTALUS HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

TANTALUS HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

TANTALUS HOMES LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2023
TANTALUS HOMES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2023
DIRECTORS Mr C M Bach
Mr C V A Bailey
Mr P S Prockter
REGISTERED OFFICE 25 Onslow Square Unit 4
London
SW7 3NJ
United Kingdom
COMPANY NUMBER 10831258 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
TANTALUS HOMES LIMITED

BALANCE SHEET

As at 30 September 2023
TANTALUS HOMES LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Current assets
Stocks 1,522,271 1,498,322
Debtors 3 39,214 21,397
Cash at bank and in hand 3,472 14,880
1,564,957 1,534,599
Creditors: amounts falling due within one year 4 ( 15,232) ( 19,652)
Net current assets 1,549,725 1,514,947
Total assets less current liabilities 1,549,725 1,514,947
Creditors: amounts falling due after more than one year 5 ( 2,127,011) ( 2,083,011)
Net liabilities ( 577,286) ( 568,064)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 577,386 ) ( 568,164 )
Total shareholder's deficit ( 577,286) ( 568,064)

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tantalus Homes Limited (registered number: 10831258) were approved and authorised for issue by the Board of Directors on 06 September 2024. They were signed on its behalf by:

Mr C V A Bailey
Director
TANTALUS HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
TANTALUS HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tantalus Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 25 Onslow Square Unit 4, London, SW7 3NJ, United Kingdom.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company, with their support, has adequate resources to continue in operational existence for the foreseeable future. Thus the company continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts receivable for rent received and services net of VAT, and sale of property, net of VAT.

Revenue from the sale of properties is recognised when the significant risks and rewards of ownership of thegoods have passed to the buyer (usually on completion of sale), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from services represents amounts receivable for rent net of VAT.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Debtors

2023 2022
£ £
Other debtors 39,214 21,397

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 13,432 17,852
Other creditors 1,800 1,800
15,232 19,652

5. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 2,127,011 2,083,011

There are no amounts included above in respect of which any security has been given by the small entity.

6. Related party transactions

At the balance sheet date, the company owed £2,127,011 (2022:£2,083,011) to the directors of the company.