Tart Ltd 10034016 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of real estate management. Digita Accounts Production Advanced 6.30.9574.0 true true 10034016 2023-04-01 2024-03-31 10034016 2024-03-31 10034016 core:RetainedEarningsAccumulatedLosses 2024-03-31 10034016 core:ShareCapital 2024-03-31 10034016 core:CurrentFinancialInstruments 2024-03-31 10034016 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10034016 core:Non-currentFinancialInstruments 2024-03-31 10034016 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10034016 core:FurnitureFittings 2024-03-31 10034016 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 10034016 bus:SmallEntities 2023-04-01 2024-03-31 10034016 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10034016 bus:FilletedAccounts 2023-04-01 2024-03-31 10034016 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10034016 bus:RegisteredOffice 2023-04-01 2024-03-31 10034016 bus:Director1 2023-04-01 2024-03-31 10034016 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10034016 core:FurnitureFittings 2023-04-01 2024-03-31 10034016 countries:EnglandWales 2023-04-01 2024-03-31 10034016 2023-03-31 10034016 core:FurnitureFittings 2023-03-31 10034016 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 10034016 2022-04-01 2023-03-31 10034016 2023-03-31 10034016 core:RetainedEarningsAccumulatedLosses 2023-03-31 10034016 core:ShareCapital 2023-03-31 10034016 core:CurrentFinancialInstruments 2023-03-31 10034016 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10034016 core:Non-currentFinancialInstruments 2023-03-31 10034016 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10034016 core:FurnitureFittings 2023-03-31 10034016 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 10034016

Tart Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Tart Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Tart Ltd

Company Information

Director

Mr AJ Westwood

Registered office

Fox Cottage
Whitebeams
Pett Bottom
Canterbury
CT4 6EH

 

Tart Ltd

(Registration number: 10034016)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

287,363

287,363

Current assets

 

Debtors

5

1,500

1,500

Cash at bank and in hand

 

1,784

730

 

3,284

2,230

Creditors: Amounts falling due within one year

6

(104,414)

(90,268)

Net current liabilities

 

(101,130)

(88,038)

Total assets less current liabilities

 

186,233

199,325

Creditors: Amounts falling due after more than one year

6

(181,868)

(195,036)

Net assets

 

4,365

4,289

Capital and reserves

 

Called up share capital

1

1

Retained earnings

4,364

4,288

Shareholders' funds

 

4,365

4,289

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 September 2024
 

.........................................
Mr AJ Westwood
Director

   
     
 

Tart 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:
Fox Cottage
Whitebeams
Pett Bottom
Canterbury
CT4 6EH
England

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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Tart Ltd

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

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance

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.

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.

 

Tart Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

287,363

7,160

294,523

At 31 March 2024

287,363

7,160

294,523

Depreciation

At 1 April 2023

-

7,160

7,160

At 31 March 2024

-

7,160

7,160

Carrying amount

At 31 March 2024

287,363

-

287,363

At 31 March 2023

287,363

-

287,363

Included within the net book value of land and buildings above is £287,363 (2023 - £287,363) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

1,500

1,500

 

1,500

1,500

 

Tart Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

37,618

37,618

Amounts owed to related parties

66,797

52,650

Other creditors

 

(1)

-

 

104,414

90,268

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

181,868

195,036

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

150,468

163,636

Redeemable preference shares

31,400

31,400

181,868

195,036

Current loans and borrowings

2024
£

2023
£

Directors current account

37,618

37,618