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Registration number: 09086256

Tegiwa Holdings Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Tegiwa Holdings Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Tegiwa Holdings Ltd

Company Information

Directors

Mr Luke Sedzikowski

Mr John Gardiner

Registered office

Tegiwa House
Sutherland Road
Longton
Stoke-On-Trent
Staffordshire
ST3 1HZ

 

Tegiwa Holdings Ltd

(Registration number: 09086256)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

838,743

750,000

Investments

5

100

100

 

838,843

750,100

Current assets

 

Debtors

6

521,057

1,019,999

Cash at bank and in hand

 

1,140,769

370,998

 

1,661,826

1,390,997

Creditors: Amounts falling due within one year

(2,495)

(42)

Net current assets

 

1,659,331

1,390,955

Total assets less current liabilities

 

2,498,174

2,141,055

Provisions for liabilities

(68,180)

(68,180)

Accruals and deferred income

 

(1,200)

(1,440)

Net assets

 

2,428,794

2,071,435

Capital and reserves

 

Called up share capital

7

200

200

Revaluation reserve

358,844

358,844

Retained earnings

2,069,750

1,712,391

Shareholders' funds

 

2,428,794

2,071,435

For the financial year ending 30 April 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Tegiwa Holdings Ltd

(Registration number: 09086256)
Abridged Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

.........................................
Mr Luke Sedzikowski
Director

.........................................
Mr John Gardiner
Director

 
     
 

Tegiwa Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Tegiwa House
Sutherland Road
Longton
Stoke-On-Trent
Staffordshire
ST3 1HZ

These financial statements were authorised for issue by the Board on 10 September 2024.

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 abridged 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 abridged 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Tegiwa Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

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.

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

Investment properties

Measured at fair value at the reporting end date

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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 publicly 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.

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.

 

Tegiwa Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Tegiwa Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 May 2023

750,000

750,000

Additions

125,892

125,892

At 30 April 2024

875,892

875,892

Depreciation

Impairment

37,149

37,149

At 30 April 2024

37,149

37,149

Carrying amount

At 30 April 2024

838,743

838,743

At 30 April 2023

750,000

750,000

Included within the net book value of land and buildings above is £838,743 (2023 - £750,000) in respect of freehold land and buildings.
 

 

Tegiwa Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

5

Investments

Total
£

Cost or valuation

At 1 May 2023

100

Provision

Carrying amount

At 30 April 2024

100

At 30 April 2023

100

2024
£

2023
£

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary of £1 each

180

180

180

180

B Ordinary of £1 each

20

20

20

20

 

200

200

200

200

8

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £1,533.00 (2023 - £1,311.00) per each A Ordinary

 

276,000

 

236,000

Interim dividend of £3,700.00 per each B Ordinary

 

74,000

 

74,000

   

350,000

 

310,000

 

Tegiwa Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

9

Related party transactions

Key management personnel

Mr Luke Sedzikowski
Mr John Gardnier

Summary of transactions with key management

Directors Loan Account

As at 30th April 2024, the company owed Mr L Sedzikowski £21 (2023:£21) in the form of a directors loan. This loan is interest free and repayable upon demand.

As at 30th April 2024, the company owed Mr J Gardiner £21 (2023:£21) in the form of a directors loan. This loan is interest free and repayable upon demand.

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Contributions paid to money purchase schemes

6,000

56,000

Summary of transactions with subsidiaries

Tegiwa Imports Ltd

Intercompany Loan

During the year the company received dividends amounting to £NIL (2023: £600,000) from Tegiwa Imports Ltd.

As at 30th April 2024, Tegiwa Holdings Ltd was owed the amount of £609,800 (2023: £620,000). The balance is included within debtors in the accounts.

 

10

Parent and ultimate parent undertaking

The ultimate controlling party is Mr L Sedzikowski & Mr J Gardiner.