Tackle Guru Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 06774588 (England and Wales)
Tackle Guru Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Tackle Guru Limited
Balance Sheet
As at 31 December 2023
31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
5,039,456
Cash at bank and in hand
1,609
7,226
1,609
5,046,682
Creditors: amounts falling due within one year
4
(1,409)
(5,046,482)
Net current assets
200
200
Capital and reserves
Called up share capital
5
200
200
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 year 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 financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
D Clarke
Director
Company Registration No. 06774588
Tackle Guru Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information
Tackle Guru Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for thetrue foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for the supply of specialist fishing tackle and equipment, net of VAT and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.
1.5
Financial instruments
The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.6
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 profit and loss account 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.
Tackle Guru Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
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.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.8
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2022: 3).
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
5,039,456
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
37,479
Other creditors
1,409
5,009,003
1,409
5,046,482
5
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
200 ordinary shares of £1 each
200
200
Tackle Guru Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
6
Financial commitments, guarantees and contingent liabilities
There is a cross guarantee, in favour of the bank, between Korda Developments Limited, Tackle Guru Limited, Gigantica Carp Limited, Embryo Angling Habitats Limited and Carpfest Limited. The facility in use at the year end was £nil (2022: £nil).
7
Related party transactions
The company has taken the exemption available in section 33 of FRS 102 from disclosing transactions with wholly-owned group companies.
8
Parent company
Tackle Guru Limited became a wholly owned subsidiary of Korda Developments Limited on 30 December 2022 and the results of Tackle Guru Limited are included in the consolidated financial statements of Korda Developments Limited which are available from Orbital House, 20 Eastern Road, Romford, United Kingdom, RM1 3PJ.