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REGISTERED NUMBER: 07678947 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

TAMARA LOUNGE LIMITED

TAMARA LOUNGE LIMITED (REGISTERED NUMBER: 07678947)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


TAMARA LOUNGE LIMITED (REGISTERED NUMBER: 07678947)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 648,661 689,014

CURRENT ASSETS
Stocks 70,655 69,758
Debtors 5 685,406 750,690
Cash at bank and in hand 11,128 18,901
767,189 839,349
CREDITORS
Amounts falling due within one year 6 749,452 712,788
NET CURRENT ASSETS 17,737 126,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

666,398

815,575

CREDITORS
Amounts falling due after more than one
year

7

(98,220

)

(193,730

)

PROVISIONS FOR LIABILITIES 8 (66,962 ) (58,856 )
NET ASSETS 501,216 562,989

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 500,216 561,989
501,216 562,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2024 and were signed on its behalf by:



Mr N Chande - Director


TAMARA LOUNGE LIMITED (REGISTERED NUMBER: 07678947)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Tamara Lounge Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07678947

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is 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 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 period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.
The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Leasehold improvements - Over the lease period
Fixtures and fittings - 20% reducing balance
Motor Vehicles - 25% reducing balance

The company has adopted the policy to not depreciate in the year of acquisition but to provide full depreciation in
the year of disposal.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.


TAMARA LOUNGE LIMITED (REGISTERED NUMBER: 07678947)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Change in comparatives
The accounts have been prepared for a period of 12 months whereas the comparatives are for a period of 18 months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2022 - 45 ) .

TAMARA LOUNGE LIMITED (REGISTERED NUMBER: 07678947)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022 457,705 32,581 1,151,628 12,995 1,654,909
Additions 35,000 - 14,844 - 49,844
Disposals - - - (12,995 ) (12,995 )
At 30 September 2023 492,705 32,581 1,166,472 - 1,691,758
DEPRECIATION
At 1 October 2022 89,006 32,581 835,373 8,935 965,895
Charge for year 22,886 - 63,251 1,015 87,152
Eliminated on disposal - - - (9,950 ) (9,950 )
At 30 September 2023 111,892 32,581 898,624 - 1,043,097
NET BOOK VALUE
At 30 September 2023 380,813 - 267,848 - 648,661
At 30 September 2022 368,699 - 316,255 4,060 689,014

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 621,174 737,269
Other debtors 64,232 13,421
685,406 750,690

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 24,150 54,622
Trade creditors 392,497 183,376
Amounts owed to group undertakings - 43,356
Taxation and social security 294,054 346,479
Other creditors 38,751 84,955
749,452 712,788

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,333 65,814
Other creditors 79,887 127,916
98,220 193,730

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances - 35,876
Deferred tax 66,962 22,980
66,962 58,856

TAMARA LOUNGE LIMITED (REGISTERED NUMBER: 07678947)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2022 58,856
Provided during year 8,106
Balance at 30 September 2023 66,962

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors less than one year is an amount of £1,084 (2022: £1,084) due from a connected company with common control. The amount remains interest-free and recoverable on demand.