Company registration number 14785580 (England and Wales)
The Tap on the Tutt Ltd
UNAUDITED FINANCIAL STATEMENTS
for the period ended 30 April 2024
PAGES FOR FILING WITH REGISTRAR
The Tap on the Tutt Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
The Tap on the Tutt Ltd
Statement Of Financial Position
as at 30 April 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
14,753
Current assets
Stocks
8,222
Debtors
2,881
Cash at bank and in hand
18,295
29,398
Creditors: amounts falling due within one year
(40,830)
Net current liabilities
(11,432)
Total assets less current liabilities
3,321
Provisions for liabilities
(805)
Net assets
2,516
Capital and reserves
Called up share capital
100
Profit and loss reserves
2,416
Total equity
2,516
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial period ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Tap on the Tutt Ltd
Statement Of Financial Position (continued)
as at 30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 August 2024 and are signed on its behalf by:
S Winder
Director
Company registration number 14785580 (England and Wales)
The Tap on the Tutt Ltd
Notes to the financial statements
for the period ended 30 April 2024
- 3 -
1
Accounting policies
Accounting convention
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.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised on a cash basis.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 Tap on the Tutt Ltd
Notes to the financial statements (continued)
for the period ended 30 April 2024
1
Accounting policies
(continued)
- 4 -
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
8
3
Tangible fixed assets
Total
£
Cost
At 6 April 2023
Additions
15,386
At 30 April 2024
15,386
Depreciation and impairment
At 6 April 2023
Depreciation charged in the period
633
At 30 April 2024
633
Carrying amount
At 30 April 2024
14,753
4
Company information
The Tap on the Tutt Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Orchard Cottage, Skelton Road, Langthorpe, Boroughbridge, North Yorkshire, YO51 9BZ.