Tamahine Investments Ltd 01053018 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of a general trading company. The company holds its funds in listed investments which are readily saleable. Digita Accounts Production Advanced 6.30.9574.0 true 01053018 2023-04-01 2024-03-31 01053018 2024-03-31 01053018 core:RetainedEarningsAccumulatedLosses 2024-03-31 01053018 core:ShareCapital 2024-03-31 01053018 core:CurrentFinancialInstruments 2024-03-31 01053018 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01053018 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 01053018 core:OtherResidualIntangibleAssets 2024-03-31 01053018 bus:SmallEntities 2023-04-01 2024-03-31 01053018 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01053018 bus:FullAccounts 2023-04-01 2024-03-31 01053018 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01053018 bus:RegisteredOffice 2023-04-01 2024-03-31 01053018 bus:Director1 2023-04-01 2024-03-31 01053018 bus:Director2 2023-04-01 2024-03-31 01053018 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01053018 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 01053018 countries:EnglandWales 2023-04-01 2024-03-31 01053018 2023-03-31 01053018 core:OtherResidualIntangibleAssets 2023-03-31 01053018 2022-04-01 2023-03-31 01053018 2023-03-31 01053018 core:RetainedEarningsAccumulatedLosses 2023-03-31 01053018 core:ShareCapital 2023-03-31 01053018 core:CurrentFinancialInstruments 2023-03-31 01053018 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01053018 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 01053018 core:OtherResidualIntangibleAssets 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 01053018


Tamahine Investments Ltd

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Tamahine Investments Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Tamahine Investments Ltd

Company Information

Directors

Mr M J C Bamford

Mr S E R Ovens

Registered office

3 Deanery Street
London
W1K 1AX

Accountants

Howsons
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Tamahine Investments Ltd

(Registration number: 01053018)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

844,389

912,361

Debtors

6

100

100

Other financial assets

7

8,182,066

7,137,730

Cash at bank and in hand

 

144,803

80,779

 

9,171,358

8,130,970

Creditors: Amounts falling due within one year

8

(483,795)

(481,069)

Total assets less current liabilities

 

8,687,563

7,649,901

Creditors: Amounts falling due after more than one year

8

(19,629,939)

(19,629,939)

Net liabilities

 

(10,942,376)

(11,980,038)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(10,942,476)

(11,980,138)

Shareholders' deficit

 

(10,942,376)

(11,980,038)

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 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

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.

Approved and authorised by the Board on 15 July 2024 and signed on its behalf by:
 

.........................................
Mr M J C Bamford
Director

 

Tamahine Investments Ltd

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:
3 Deanery Street
London
W1K 1AX

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

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 specific criteria have been met for each of the company's activities.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Salvage rights

5% straight line

 

Tamahine Investments Ltd

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publically traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, 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 receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (excluding directors) during the year, was 0 (2023 - 0).

 

Tamahine Investments Ltd

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

4

Intangible assets

Salvage rights
£

Total
£

Cost or valuation

At 1 April 2023

9,500

9,500

At 31 March 2024

9,500

9,500

Amortisation

At 1 April 2023

9,500

9,500

At 31 March 2024

9,500

9,500

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

-

-

5

Stocks

2024
£

2023
£

Inventories

844,389

912,361

6

Debtors

2024
£

2023
£

Other debtors

100

100

 

Tamahine Investments Ltd

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

7

Current asset investments

2024
£

2023
£

Other investments

8,182,066

7,137,730

Listed investments

In accordance with the company's accounting policy, current asset investments are stated at fair value. The cost of these investments was £12,308,553 (31 March 2023 - £12,308,553) and the fair value of the investments at 31 March 2024 was £8,182,066 (31 March 2023 - £7,137,730). Revaluation gains of £1,044,336 (2023 - £268,768) have been taken to the profit and loss account for the year.

8

Creditors

Creditors: Amounts falling due within one year

2024
£

2023
£

Amounts owed to group undertakings and undertakings in which the company has a participating interest

469,995

469,995

Taxation and social security

9,552

7,216

Other creditors

4,248

3,858

483,795

481,069

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Directors loan account

19,629,939

19,629,939

No interest is charged on the directors loan account.

9

Going Concern

The accounts have been prepared on a going concern basis. The director intends to support the company for the foreseeable future.