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Registration number: 10386542

Tatooine Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Tatooine Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Tatooine Investments Limited

Company Information

Directors

Samantha Paymans

Wilhelmus Paymans

Registered office

9 Hare & Billet Road
Blackheath
SE3 0RB

Accountants

Field Sullivan Limited
9 Hare & Billet Road
Blackheath
SE3 0RB

 

Tatooine Investments Limited

(Registration number: 10386542)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

360,000

360,000

Current assets

 

Debtors

5

124

114

Cash at bank and in hand

 

5,692

3,099

 

5,816

3,213

Creditors: Amounts falling due within one year

6

(115,234)

(114,804)

Net current liabilities

 

(109,418)

(111,591)

Total assets less current liabilities

 

250,582

248,409

Creditors: Amounts falling due after more than one year

6

(262,049)

(262,049)

Net liabilities

 

(11,467)

(13,640)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(11,567)

(13,740)

Shareholders' deficit

 

(11,467)

(13,640)

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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Tatooine Investments Limited

(Registration number: 10386542)
Balance Sheet as at 30 September 2023

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

.........................................
Wilhelmus Paymans
Director

 

Tatooine Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

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

The address of its registered office is:
9 Hare & Billet Road
Blackheath
SE3 0RB

These financial statements were authorised for issue by the Board on 9 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 have been prepared on a going concern basis, which assumes that the company will be able to meet its debts as they fall due. However, at the year end the company has net liabilities of £11,467 (2022: £13,640). The director believes it is appropriate to prepare the financial statements on a going concern basis, as he is the company's main creditor £114,262 (2022: £113,874), as well as guaranteeing the company's bank facility, and has agreed to continue to support the company for the forseeable future.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

 

Tatooine Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and when the service is delivered, if the service straddles more than one accounting period, income is recognised on a pro rata basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Tatooine Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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 (2022 - 2).

4

Investment properties

2023
£

At 1 October

360,000

At 30 September

360,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

Prepayments

124

114

 

124

114

 

Tatooine Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts due to related parties

9

114,262

113,874

Accruals

 

972

930

 

115,234

114,804

Due after one year

 

Loans and borrowings

8

262,049

262,049

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares A of £1 each

50

50

50

50

Ordinary shares B of £1 each

50

50

50

50

100

100

100

100

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

262,049

262,049

 

Tatooine Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

9

Related party transactions

Summary of transactions with other related parties

Wilhelmus and Samantha Paymans
(Directors)


 During the year the directors paid £388 (2022: £612) of expenses on the company's behalf. At the balance sheet date the amount owed to directors was £114,262 (2022: £113,874).