36
false
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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
684,597
684,597
684,597
88,440
44,959
133,399
8,570
22,841
31,411
101,988
3,353,590
3,353,590
3,353,590
xbrli:pure
xbrli:shares
iso4217:GBP
08455919
2023-01-01
2023-12-31
08455919
2023-12-31
08455919
2022-12-31
08455919
2021-11-15
2022-12-31
08455919
2022-12-31
08455919
2021-11-14
08455919
bus:Director5
2023-01-01
2023-12-31
08455919
core:WithinOneYear
2023-12-31
08455919
core:WithinOneYear
2022-12-31
08455919
core:AfterOneYear
2022-12-31
08455919
core:ShareCapital
2023-12-31
08455919
core:ShareCapital
2022-12-31
08455919
core:RetainedEarningsAccumulatedLosses
2023-12-31
08455919
core:RetainedEarningsAccumulatedLosses
2022-12-31
08455919
core:NetGoodwill
2023-12-31
08455919
core:NetGoodwill
2022-12-31
08455919
core:CostValuation
core:Non-currentFinancialInstruments
2023-12-31
08455919
core:Non-currentFinancialInstruments
2023-12-31
08455919
core:Non-currentFinancialInstruments
2022-12-31
08455919
bus:SmallEntities
2023-01-01
2023-12-31
08455919
bus:AuditExemptWithAccountantsReport
2023-01-01
2023-12-31
08455919
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
08455919
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
08455919
bus:FullAccounts
2023-01-01
2023-12-31
08455919
core:FurnitureFittingsToolsEquipment
2023-01-01
2023-12-31
08455919
core:FurnitureFittingsToolsEquipment
2022-12-31
08455919
core:FurnitureFittingsToolsEquipment
2023-12-31
COMPANY REGISTRATION NUMBER:
08455919
Tapestry (Partners) Limited |
|
Filleted Unaudited Financial Statements |
|
Tapestry (Partners) Limited |
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Intangible assets |
5 |
|
684,597 |
684,597 |
Tangible assets |
6 |
|
101,988 |
88,440 |
Investments |
7 |
|
3,353,590 |
2,064,964 |
|
|
------------ |
------------ |
|
|
4,140,175 |
2,838,001 |
|
|
|
|
|
Current assets
Debtors |
8 |
1,773,925 |
|
2,308,346 |
Cash at bank and in hand |
186,992 |
|
797,969 |
|
------------ |
|
------------ |
|
1,960,917 |
|
3,106,315 |
|
|
|
|
|
Creditors: amounts falling due within one year |
9 |
1,856,309 |
|
2,302,934 |
|
------------ |
|
------------ |
Net current assets |
|
104,608 |
803,381 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
4,244,783 |
3,641,382 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
10 |
|
– |
684,580 |
|
|
------------ |
------------ |
Net assets |
|
4,244,783 |
2,956,802 |
|
|
------------ |
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1,000 |
1,033 |
Profit and loss account |
|
4,243,783 |
2,955,769 |
|
|
------------ |
------------ |
Shareholders funds |
|
4,244,783 |
2,956,802 |
|
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Tapestry (Partners) Limited |
|
Statement of Financial Position (continued) |
|
31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
18 September 2024
, and are signed on behalf of the board by:
Company registration number:
08455919
Tapestry (Partners) Limited |
|
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1-2 St John's Path, London, EC1M 4DD.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% reducing balance |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
36
(2022:
26
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
684,597 |
|
--------- |
Amortisation |
|
At 1 January 2023 and 31 December 2023 |
– |
|
--------- |
Carrying amount |
|
At 31 December 2023 |
684,597 |
|
--------- |
At 31 December 2022 |
684,597 |
|
--------- |
|
|
6.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 January 2023 |
88,440 |
88,440 |
Additions |
44,959 |
44,959 |
|
--------- |
--------- |
At 31 December 2023 |
133,399 |
133,399 |
|
--------- |
--------- |
Depreciation |
|
|
At 1 January 2023 |
8,570 |
8,570 |
Charge for the year |
22,841 |
22,841 |
|
--------- |
--------- |
At 31 December 2023 |
31,411 |
31,411 |
|
--------- |
--------- |
Carrying amount |
|
|
At 31 December 2023 |
101,988 |
101,988 |
|
--------- |
--------- |
At 31 December 2022 |
79,870 |
79,870
|
|
--------- |
--------- |
|
|
|
7.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
3,353,590 |
|
------------ |
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
|
------------ |
|
|
Carrying amount |
|
At 31 December 2023 |
3,353,590 |
|
------------ |
At 31 December 2022 |
3,353,590 |
|
------------ |
|
|
8.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
1,834,111 |
2,208,167 |
Other debtors |
(
60,186) |
100,179 |
|
------------ |
------------ |
|
1,773,925 |
2,308,346 |
|
------------ |
------------ |
|
|
|
9.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
658,150 |
655,897 |
Social security and other taxes |
– |
14,722 |
Other creditors |
1,198,159 |
1,632,315 |
|
------------ |
------------ |
|
1,856,309 |
2,302,934 |
|
------------ |
------------ |
|
|
|
10.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Other creditors |
– |
684,580 |
|
---- |
--------- |
|
|
|
11.
Related party transactions
The company was under the control of its shareholders throughout the current period.