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REGISTERED NUMBER: 14282841 (England and Wales)















Report of the Directors and

Unaudited Consolidated Financial Statements

for the Period 8 August 2022 to 31 October 2023

for

Tate Group Ltd

Tate Group Ltd (Registered number: 14282841)






Contents of the Consolidated Financial Statements
for the Period 8 August 2022 to 31 October 2023




Page

Company Information 1

Report of the Directors 2

Report of the Accountants 3

Consolidated Income Statement 4

Consolidated Balance Sheet 5

Company Balance Sheet 7

Notes to the Consolidated Financial Statements 9


Tate Group Ltd

Company Information
for the Period 8 August 2022 to 31 October 2023







DIRECTORS: S Tate
Mrs C Tate





REGISTERED OFFICE: Osborne House
20 Victoria Avenue
Harrogate
HG1 5QY





REGISTERED NUMBER: 14282841 (England and Wales)





ACCOUNTANTS: Stringer Mallard Business Services Ltd
12a Montpellier Parade
Harrogate
North Yorkshire
HG1 2TJ

Tate Group Ltd (Registered number: 14282841)

Report of the Directors
for the Period 8 August 2022 to 31 October 2023

The directors present their report with the financial statements of the company and the group for the period 8 August 2022 to 31 October 2023.

INCORPORATION
The group was incorporated on 8 August 2022 .

DIRECTORS
The directors who have held office during the period from 8 August 2022 to the date of this report are as follows:

S Tate - appointed 8 August 2022
Mrs C Tate - appointed 8 August 2022

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S Tate - Director


30 September 2024

Tate Group Ltd

Report of the Accountants to the Directors of
Tate Group Ltd


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 31 October 2023 set out on page four and you consider that the company and the group are exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Stringer Mallard Business Services Ltd
12a Montpellier Parade
Harrogate
North Yorkshire
HG1 2TJ


30 September 2024

Tate Group Ltd (Registered number: 14282841)

Consolidated Income Statement
for the Period 8 August 2022 to 31 October 2023

Notes £   

TURNOVER 2,118,849

Cost of sales 1,168,291
GROSS PROFIT 950,558

Administrative expenses 756,260
OPERATING PROFIT 4 194,298

Interest receivable and similar income 623
194,921
Gain/loss on revaluation of investments 1,061,873
1,256,794

Interest payable and similar expenses 8,998
PROFIT BEFORE TAXATION 1,247,796

Tax on profit (39,638 )
PROFIT FOR THE FINANCIAL PERIOD 1,287,434

Profit attributable to:
Owners of the parent 1,294,311
Non-controlling interests (6,877 )
1,287,434

Tate Group Ltd (Registered number: 14282841)

Consolidated Balance Sheet
31 October 2023

Notes £    £   
FIXED ASSETS
Intangible assets 6 -
Tangible assets 7 25,939
Investments 8 4,000,252
4,026,191

CURRENT ASSETS
Stocks 4,694,982
Debtors 9 772,333
Cash at bank 512,465
5,979,780
CREDITORS
Amounts falling due within one year 10 2,717,841
NET CURRENT ASSETS 3,261,939
TOTAL ASSETS LESS CURRENT LIABILITIES 7,288,130

CREDITORS
Amounts falling due after more than one
year

11

2,128,602
NET ASSETS 5,159,528

CAPITAL AND RESERVES
Called up share capital 100
Revaluation reserve 12 3,999,902
Retained earnings 1,148,874
5,148,876

NON-CONTROLLING INTERESTS 10,652
TOTAL EQUITY 5,159,528

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2023.

The members have not required the company and the group to obtain an audit of its financial statements for the period ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

Tate Group Ltd (Registered number: 14282841)

Consolidated Balance Sheet - continued
31 October 2023


The financial statements have been prepared 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 30 September 2024 and were signed on its behalf by:





S Tate - Director


Tate Group Ltd (Registered number: 14282841)

Company Balance Sheet
31 October 2023

Notes £    £   
FIXED ASSETS
Intangible assets 6 -
Tangible assets 7 -
Investments 8 4,000,200
4,000,200

CURRENT ASSETS
Debtors 9 2,258,602

CREDITORS
Amounts falling due within one year 10 898
NET CURRENT ASSETS 2,257,704
TOTAL ASSETS LESS CURRENT LIABILITIES 6,257,904

CREDITORS
Amounts falling due after more than one
year

11

2,128,602
NET ASSETS 4,129,302

CAPITAL AND RESERVES
Called up share capital 100
Revaluation reserve 12 3,999,902
Retained earnings 129,300
4,129,302

Company's profit for the financial year 129,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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.

Tate Group Ltd (Registered number: 14282841)

Company Balance Sheet - continued
31 October 2023


The financial statements have been prepared 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 29 August 2024 and were signed on its behalf by:





S Tate - Director


Tate Group Ltd (Registered number: 14282841)

Notes to the Consolidated Financial Statements
for the Period 8 August 2022 to 31 October 2023

1. STATUTORY INFORMATION

Tate Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 balance sheet date.


Tate Group Ltd (Registered number: 14282841)

Notes to the Consolidated Financial Statements - continued
for the Period 8 August 2022 to 31 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

The average number of employees by undertakings that were proportionately consolidated during the period was 9 .

4. OPERATING PROFIT

The operating profit is stated after charging:

£   
Depreciation - owned assets 8,733

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Tate Group Ltd (Registered number: 14282841)

Notes to the Consolidated Financial Statements - continued
for the Period 8 August 2022 to 31 October 2023

6. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 8 August 2022
and 31 October 2023 1,000,000
AMORTISATION
At 8 August 2022
and 31 October 2023 1,000,000
NET BOOK VALUE
At 31 October 2023 -
At 7 August 2022 -

7. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£   
COST
At 8 August 2022 94,520
Additions 13,163
At 31 October 2023 107,683
DEPRECIATION
At 8 August 2022 73,011
Charge for period 8,733
At 31 October 2023 81,744
NET BOOK VALUE
At 31 October 2023 25,939
At 7 August 2022 21,509

Tate Group Ltd (Registered number: 14282841)

Notes to the Consolidated Financial Statements - continued
for the Period 8 August 2022 to 31 October 2023

8. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST OR VALUATION
At 8 August 2022 52
Additions 298
Revaluations 3,999,902
At 31 October 2023 4,000,252
NET BOOK VALUE
At 31 October 2023 4,000,252
At 7 August 2022 52

Cost or valuation at 31 October 2023 is represented by:

Shares in
group
undertakings
£   
Valuation in 2023 3,999,902
Cost 350
4,000,252
Company
Shares in
group
undertakings
£   
COST OR VALUATION
Additions 298
Revaluations 3,999,902
At 31 October 2023 4,000,200
NET BOOK VALUE
At 31 October 2023 4,000,200

Tate Group Ltd (Registered number: 14282841)

Notes to the Consolidated Financial Statements - continued
for the Period 8 August 2022 to 31 October 2023

8. FIXED ASSET INVESTMENTS - continued

Company

Cost or valuation at 31 October 2023 is represented by:

Shares in
group
undertakings
£   
Valuation in 2023 3,999,902
Cost 298
4,000,200


9. DEBTORS


Group Company
£    £   
Amounts falling due within one year:
Trade debtors 454,724 -
Amounts owed by group undertakings - 3,000
Other debtors 317,609 9,438
772,333 12,438

Amounts falling due after more than one year:
Amounts owed by group undertakings - 2,246,164

Aggregate amounts 772,333 2,258,602

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£    £   
Bank loans and overdrafts 2,174,181 -
Trade creditors 212,649 -
Taxation and social security 164,168 -
Other creditors 166,843 898
2,717,841 898

Tate Group Ltd (Registered number: 14282841)

Notes to the Consolidated Financial Statements - continued
for the Period 8 August 2022 to 31 October 2023

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR


Group Company
£    £   
Other creditors 2,128,602 2,128,602

12. RESERVES

Group
Revaluation
reserve
£   
Share revaluation 3,999,902

At 31 October 2023 3,999,902

Company
Revaluation
reserve
£   
Share revaluation 3,999,902

At 31 October 2023 3,999,902


13. RELATED PARTY DISCLOSURES

Harmil LLP
An LLP of which Shawbeck Holding Ltd, Mr S & Mrs L Tate are members.

During the period Harmil LLP invoiced Tate Consulting (UK) Ltd £221,666.67 (2022 £170,000). At 31 October 2023, Harmil LLP were owed £686.56 (2022 £94).

A loan of £10,000 was received during the year from Harmil LLP to Tate Estates (Lambert House) Ltd.

During the year Tate Estates Ltd was issued a credit note in respect of overcharged management fees by Harmil LLP of £40,000 (2022 charged £168,020)

14. ULTIMATE CONTROLLING PARTY

The group is under the control of S Tate and C L Tate.